XRP Stalls as Regulatory Cloud Remains Looming

XRP is showing signs of resistance after rebounding from its recent low. The token has been impacted by regulatory developments, particularly the U.S. Senate's failure to advance the CLARITY Act, which could have provided more clarity for digital assets.

The recent Break of Structure (BoS) on the 4-hour chart suggests that XRP may still be in a downtrend. The token fell below its swing low at $1.3325 and closed at $1.2951, taking it below the broken support and lower volatility band.

A recovery toward the $1.3325-$1.3585 area is possible, but a rejection from this range could lead to another decline toward $1.2450, followed by the psychological $1.20 level and potentially $1.10 if selling pressure increases.