XRP Surges 7% After CLARITY Act Setback, Maintains Momentum

XRP overcame regulatory setbacks this week, rising more than 7% within 24 hours to trade around $1.39 after briefly dropping to $1.27.

The rebound followed the Senate's failure to pass the CLARITY Act on September 15 by a narrow 50-49 vote, falling short of the required 60 votes for advancement, and the Federal Reserve's decision to raise interest rates by 25 basis points to a range of 3.75%-4.00%.

XRP initially fell over 8% to $1.27-$1.28 following the legislative setback before recovering. The Fed rate hike added pressure on risk assets, but selling subsided quickly as XRP rebounded to $1.39 with a 7.23% gain in 24 hours and trading volume around $3.9 billion, near the 30-day average.

CryptoQuant data shows whale deposits on Binance reached a six-month high, while futures open interest has recovered to pre-vote levels, suggesting renewed large-scale participation. Bitcoin rose 5.49% to $87,520, Ethereum gained 5.53% to $2,595, and Solana surged 10.75% to $112.34 as the total altcoin market cap hit an eight-month high of $222 billion.

Analysts note a potential inverse head-and-shoulders pattern on daily charts with a neckline at $1.55, which could lead to a $2 target if confirmed. The RSI remains neutral at 54, indicating no overbought conditions and room for further upside. XRP is still down 62% from its all-time high and has been consolidating in a broad base for months.