$XRP Shorts Face $9.46 Million Decision on CLARITY Act Vote

The U.S. Senate is set to vote on the CLARITY Act tomorrow, which could significantly impact the crypto market and XRP in particular.

According to CoinGlass data, $XRP shorts are facing a potential forced liquidation of $9.46 million if the price reaches $1.4644, which is just 5.08% above its current trading range of $1.3936, $1.4001.

The market trigger is close to being reached, and Binance has become the epicenter of the confrontation with a doubling of futures trading volume over the past 24 hours and open interest reaching $425.98 million.

The outcome of the vote will serve as a binary trigger for XRP, with success potentially leading to a short squeeze above $1.4644 and a technical target of $1.60 fueled by liquidated bearish positions.