Gareth Soloway, a well-known technical analyst, predicted that XRP could see a price rally of between 50% and 100% before October, provided regulators deliver clearer rules for the cryptocurrency sector later this year. He shared his outlook during an appearance on The Paul Barron Show, emphasizing that regulatory clarity is the critical catalyst for any major upward move in XRP.
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AAPLKey technical patterns and support levels
Soloway highlighted XRP’s recent volatility, noting the token briefly fell below $1, which set off stop-loss sales among retail investors and led to a surge in liquidations. However, he observed that the price quickly rebounded above $1, creating what he described as a possible bottoming tail—a pattern often interpreted as a sign of market support.
He identified support around $0.96 and $0.97, referencing the significant buying activity seen when XRP hit those levels. Soloway also pointed to a wedge pattern that has already broken to the upside, adding that such formations do not always result in immediate price gains, but XRP’s stability since the breakout suggests growing strength.
Soloway explained that although a breakout above a wedge pattern does not guarantee an instant rally, the fact that XRP did not experience further declines indicates what he called “green shoots”—early signals of potential recovery.
According to Soloway, these factors combine to paint a bullish technical picture for XRP at its current prices.
Regulatory developments and the Clarity Act
Soloway’s optimistic forecast depends heavily on the possible passage of the Clarity Act in September. The Clarity Act, a proposed U.S. legislative bill, seeks to provide clear guidelines for digital assets and their classification, potentially removing longstanding regulatory uncertainties for projects like XRP and its issuer, Ripple.
If the bill comes into law, Soloway expects XRP to benefit directly, estimating an upside of 50% to 100%. Host Paul Barron commented that his research team views the bill as having a genuine chance of passing, although he remains personally cautious about its prospects.
Brad Garlinghouse, CEO of Ripple, has reportedly maintained a low public profile regarding the legislative process—an unusual approach for the company, which has frequently responded vocally to regulatory changes in the past.
Mini dictionary: Clarity Act, a proposed United States legislative bill, aims to clearly define and regulate digital assets by establishing better guidelines for their classification and compliance, directly affecting projects like Ripple and XRP.
Community reactions and skepticism
The prediction sparked debate among cryptocurrency enthusiasts online. One user argued that a large-scale XRP rally depends heavily on the Clarity Act becoming law; absent regulatory change, they suggested XRP could revisit lower levels around $0.80.
Others doubted XRP’s prospects altogether. A commenter contended that the token has already fulfilled its role in supporting Ripple’s expansion and transaction history, and continues to generate value for Ripple and its stakeholders even at more modest price points.
A section of the community noted that without significant regulatory action, XRP may struggle to move significantly beyond its current price band and could instead see renewed declines.
Markets watch for legislative outcomes
The outlook for XRP is now seen as closely linked to U.S. legislative decisions rather than solely chart trends. Soloway’s technical analysis offers reasons for short-term optimism, but his upper price targets depend on policymakers delivering long-awaited regulatory certainty.
