XRP Surges on CLARITY Act Optimism, Then Fades on Profit-Taking

XRP's price surged by 3.81% over the last ~32 hours due to regulatory news from the US and market sentiment.

The move was driven by optimism surrounding the CLARITY Act, which is a major catalyst for XRP's narrative of achieving regulatory clarity in the US.

XRP rallied about 3.5% intraday to around $1.1511 after Treasury Secretary Scott Bessent described the act as being at the '1-yard line' in the Senate with enough Republican and some Democratic support to potentially advance before the August recess.

The rally was also fueled by short liquidations, with around $2.93 million triggered according to a market report.