The price of XRP is under renewed selling pressure after the CLARITY Act failed to advance in the US Senate, compounding broader weakness across the cryptocurrency market. This setback has intensified scrutiny of key technical levels, with traders watching for signals of stabilization or further downside.
CLARITY Act stalls in Senate
On September 15, the US Senate rejected a procedural vote for the CLARITY Act with a result of 49-50, falling short of the 60 votes required to move the legislation forward. The CLARITY Act, intended to establish a regulatory framework for digital assets in the United States, remains stuck without congressional progress. Regulatory uncertainty continues as existing authorities develop separate cryptocurrency rules.
The legislative setback came amid ongoing price weakness for several digital assets. XRP, in particular, reacted negatively to the news, declining toward the $1.30 region as market sentiment turned cautious. The drop in price followed a period of sideways trading from late August to early September, where XRP ranged between $1.32 and $1.50.
XRP faced renewed selling and slipped below $1.30 after the US Senate blocked the CLARITY Act, heightening market uncertainties and pushing traders to reassess support and resistance levels.
Analysts noted that repeated failures by bulls to break above resistance levels around $1.50 on September 3 and September 14 contributed to vulnerability on the downside, with the prevailing market mood having turned bearish.
Technical and derivatives market outlook
Celal Kucuker, a widely followed market analyst, described the recent price drop as a healthy correction rather than a major structural breakdown for XRP. He sees the $1.50 region—home to the 50-week and 100-week moving averages—as a potential area for recovery if broader market conditions stabilize in the coming week.
His longer-term outlook for XRP, Bitcoin, and Ethereum remains constructive, suggesting that new highs could be reached between December and February. However, he acknowledges this projection as his personal market view.
TradingView data shows that XRP’s technical structure weakened further when the coin fell below key exponential moving averages in the $1.32 to $1.37 zone. Pressure from sellers drove the price as low as $1.27, while the lower Bollinger Band stretched toward $1.25. Currently, $1.25 is serving as support, with resistance seen between $1.32 and $1.37 for any potential rebound.
| Level | Price (USD) | Role |
|---|---|---|
| Bollinger Band (Lower) | $1.25 | Support |
| Exponential Moving Average (EMA) | $1.32-$1.37 | Resistance |
| Weekly Moving Averages | $1.50 | Potential recovery target |
In the derivatives market, CoinGlass data shows that XRP trading volume soared by 26.54% to $7.46 billion, while open interest dropped 10.16% to $2.85 billion. This divergence indicates more intensive trading alongside a reduction in the overall value of open derivatives contracts, suggesting a period of repositioning and unwinding of leveraged positions as the market trends lower.
Whale activity and XRP Ledger developments
Santiment Intelligence highlighted increased activity by large XRP holders, noting that 85 wallets holding at least one million XRP had been identified prior to a previous breakout of 67% between August 17 and August 21. However, this does not guarantee a similar outcome, and the significance of such whale activity remains open to interpretation.
Meanwhile, ongoing development within the XRP Ledger continues to attract attention. Ripple, a San Francisco-based enterprise blockchain company, has backed an institutional credit fund involving RLUSD, Clearpool, and Cicada Partners, aimed at providing working capital to fintech and payment firms. RLUSD is now listed on the XRP Ledger mainnet, offering new financing possibilities for ecosystem participants.
XRP holders are focused on whether the asset can stabilize above support, or if further corrections are ahead amid persistent regulatory uncertainty and changing trader sentiment.
Mini dictionary: RLUSD, issued by Ripple, is a stablecoin launched to support credit and liquidity on the XRP Ledger mainnet, facilitating institutional and fintech financing activities within the XRP ecosystem.
