XRP Surges 3.5% as Technical Breakout Meets Regulatory Hopes

XRP's price surged by 3.5% over the last 15 hours, driven primarily by a technical breakout and anticipation of the CLARITY Act vote.

The coin had been trading within a well-defined range between $1.31 and $1.36 in a descending triangle on the 1-hour chart, with local resistance at $1.38 and psychological resistance at $1.40.

A technical breakout attempt was attempted as XRP reclaimed the $1.38 level, with multiple analysts noting that this could open a path toward $1.60 as part of an 'XRP to $2' scenario.

The CLARITY Act vote is also contributing to the price increase, with traders positioning for a possible positive surprise on the cloture vote and option and perp flows skewing slightly bullish as volatility is repriced into the event.