XRP and ETH Price Prediction As White House Threatens to Pull Back Clarity Act Bill

Coingapestaff
Updated
Coingapestaff

Coingapestaff

Journalist
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Read full bio
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
XRP and ETH Price Prediction As White House Threatens to Pull Back Clarity Act Bill

Highlights

  • XRP price and Ethereum maintain momentum despite regulatory uncertainty rising.
  • Uncertainty in crypto legislation arises due to the White House-Clarity Act tensions.
  • Increases in the inflows of Spot XRP ETF indicate growing trust by institutional investors.

XRP and Ethereum prices have shown strong resilience as the crypto market gains momentum. Despite a 1% dip in total market capitalization, which now stands at $3.13 trillion, both digital assets continue to perform well. Bitcoin, however, has faced a slight decline, now trading below $95,000.

This market recovery comes amid growing concerns about the White House’s potential decision to withdraw the controversial Clarity Act bill. The bill has sparked debate, and its possible retraction has left the crypto space uncertain about future regulatory developments.

White House Threatens to Withdraw Crypto Bill Support as Coinbase Pulls Backing

The White House has threatened to withdraw its sponsorship of the CLARITY Act, which is a major bill to regulate the crypto markets. 

This is against the background of tension with key players in the industry, particularly Coinbase. The crypto exchange has actually pulled out its political backing, claiming that it does not agree with the way the bill is being formulated.

This sudden action has damaged the relationship between the crypto industry and the government. Journalist Eleanor Terrett reported that the withdrawal of the support of Coinbase may put the bill at a standstill.

This dispute as it continues to happen, leaves it ambiguous about the future crypto policies. The investors are keenly following the events and are gambling on the reaction of assets such as XRP and ETH to the growing confrontation between the regulators and the sector.

Ethereum Price Holds Near $3,300 as Market Eyes Breakout Above $3,400

Ethereum price hovered near the $3,300 level on Saturday, slightly below the weekly high of $3,370. 

The Ethereum has recorded approximately 7% growth over the last week, with a very positive momentum, even though the rest of the crypto market is performing slowly.

This has been the price action following the successful rollout of the Fusaka network upgrade that has served to sustain network strength. 

Nevertheless, ETH has been predominantly in consolidation in the previous sessions. A good close at the end of the day over $3,400, can lead to a rally to the range of $3,800-$4,000. 

On the negative side, Ethereum will hit the support zone of $3,000 once more before trying to recover, in case it goes lower than $3,200.

XRP Price Maintains Uptrend as Spot ETFs Record $1.11M Inflow

XRP price is trading near $2.07, showing steady momentum as it maintains a short-term uptrend. This trend has capped the recovery on the downside in the last week.

The token is clinging just above the very important support of $2.07 that is crucial in maintaining confidence in the market.

The XRP has gained a rather small 1% in the last 24 hours. January 16, also marked net inflows in spot XRP ETFs of 1.11 million, indicating the increasing investor interest. In case of increased bullish action, it is possible that the XRP will go up to the $3 mark shortly.

Nevertheless, in case bears reclaim their authority, it could drag the token to approximately $2, and thus the support level of $2.04 will be more relevant.

To sum up, XRP and Ethereum are very resilient despite the regulatory tensions. Inflows into ETFs and network improvements are indications of increased investor confidence. 

The breakout is still possible when the bullish trends prevail; however, the important support levels should be observed to prevent short-term bearish reversals.

 

Advertisement

Frequently Asked Questions (FAQs)

1. Why are XRP and Ethereum prices gaining momentum?

The overall crypto market is recovering, supported by ETF inflows, network upgrades, and investor confidence despite regulatory uncertainty.

2. What is the Clarity Act, and why is it important?

The Clarity Act is a proposed U.S. regulation bill aiming to provide clearer rules for cryptocurrencies. Its outcome could shape future crypto legislation.
coingape google news

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

XRP

XRP

$1.42722792 3.67% (24h)

24 Hours volume

$2.71B

Market Cap

$86.94B

Max Supply

100B

Buy $XRP with MEXC
About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.