XRP Rebounds 7% After Senate Fails to Pass CLARITY Act, Sets Sights on $2
XRP has rebounded from its recent lows after the Senate failed to pass the CLARITY Act, which aimed to establish a federal framework for digital assets. The token's price surged over 7% in 24 hours to reach $1.39, with trading volume remaining near its 30-day average.
The sell-off that followed the act's failure and the Federal Reserve's rate hike was short-lived, as XRP has since recovered. Whale deposits to Binance reached six-month highs, while futures open interest climbed back above levels seen before the failed vote, indicating renewed large-scale participation in the market.
Some analysts point to a potential inverse head-and-shoulders pattern forming on the daily chart, with a neckline around $1.55 that could open a path toward $2 if confirmed.