XRP Rallies Ahead of Fed Meeting, CLARITY Act Looms Large

The Federal Reserve's two-day meeting on July 28 and 29 drew attention from crypto traders, causing altcoins to rally ahead of the announcement. The XRP token, tied to Ripple's cross-border payments network, moved higher along with the wider market.

Two developments in the XRP Ledger world contributed to the price increase: Flare Network launched Smart Accounts v1.3, allowing holders to access DeFi vaults with a single signature; and US spot XRP ETFs experienced a $592,470 inflow on July 27, breaking a three-day flat streak.

The global crypto market cap reached $2.09 trillion, up 0.66% in a day. XRP's price rose to $1.08, a 2.65% increase in 24 hours. Analysts note that the Fed decision and the CLARITY Act carry more weight for XRP's medium-term price path than these single-day developments.