XRP's Political Tightrope: Will Institutional Support Finally Break the Token Out of its Technical Rut?
The fate of XRP hangs in the balance as it faces two critical deadlines. In Washington, the CLARITY Act, which would classify XRP as a digital commodity under U.S. law, must secure 60 Senate votes by July 29 to reach the floor before the August break. With nine votes still needed, supporters are scrambling to build momentum.
Republican support appears solid, but Democratic backing is fraying. Senator Elizabeth Warren has declared the legislation 'dead on arrival,' while two Democratic committee members who previously endorsed the draft have grown hesitant. Banking lobbyists are pushing back hard over stablecoin provisions they fear could trigger deposit outflows.
Ripple is building an institutional ecosystem around its stablecoin RLUSD, which gives institutions a single console to mint, redeem, and manage the token. The target audience is clear: companies needing stable digital dollars for payments, treasury management, and trade finance. However, analysts caution that this expansion primarily benefits RLUSD itself rather than the XRP token.
Despite the price stagnation, large investors are quietly building positions in XRP. The number of wallets holding at least 10,000 XRP has hit a new all-time high of roughly 332,230. Whales have accumulated approximately $678 million worth of XRP in recent weeks, even as smaller holders trimmed their positions.
The fundamental tension is plain: Ripple's success is increasingly independent of XRP's price. The community remains optimistic despite the proximity to critical support, and asset managers continue to quietly build ETF positions. But whether the CLARITY Act's fate will finally break XRP out of its technical rut is a question that may find an answer in the coming trading days.