XRP Price as Congress Schedules CLARITY Act Hearing on July 17

Ripple (XRP) price is up slightly by 0.02% today, July 11, to trade at $1.10 at the time of writing. The slight gain comes as trading volumes cool into the weekend, with CoinMarketCap showing that XRP’s volume are down by 25% to $762 million.

Traders are now bracing for volatility in the coming week with the CLARITY Act coming back in focus as the US Congress resumes sessions on July 13 after the July 4 recess.

Congress Schedules CLARITY Act Hearing

Data from the US Congress website shows that the House Financial Services Committee will have a field hearing in New York regarding the CLARITY Act on July 17.

This hearing was even confirmed by Congressman French Hill during an interview with FOX, where he said that lawmakers want to ensure that CLARITY can be merged with old legislation.

“We’ve got to get this market framework in place to be combined with the GENIUS Act”,” Hill said.

The Congressman’s remarks come after a CoinGape report revealed that the final draft for the CLARITY Act could drop between July 13 and July 17 and potentially move the XRP price.

Pro-crypto senators like Cynthia Lummis say that this final draft will be the last chance that the CLARITY Act has to pass before the mid-term elections happen in November.

The resumption of the US Senate from the July 4 holiday recess has also caused a slight increase in the odds of the CLARITY Act being approved from 40% on July 8 to 44% today, July 11.

XRP Price Eyes Wedge Breakout as Bearish Momentum Fades

The price of XRP trades within a falling wedge pattern. This pattern has a depth of 22%, and it usually appears when the trend is about to change from a bearish one to a bullish one.

The RSI reading of 47 also suggests that bears might be losing their grip. This RSO has moved from 32 on June 30 to 47 on July 11, suggesting that buyers are slowly replacing sellers.

This RSI needs to make a higher high above 50 to confirm that the momentum has changed to bullish.

XRP value faces resistance at $1.16. Moving above this obstacle could pave the way for a 22% gain to $1.42.

But if XRP fails to close above $1.16, bears might force it back into consolidation within the falling wedge pattern, and the price could drop to the support of $1.03.

XRP Ledger Activity Hits Rare Lows

SWIFT recently partnered with several banks affiliated with Ripple, but that did not increase network activity like is usually the case.

Instead, data from Santiment shows that the level of activity on the XRP Ledger is at the second-lowest level in 2026.

XRP Ledger saw only 25,350 active wallets on July 11 and 2,130 new wallets.

The number of new wallets on XRP Ledger is at the lowest point since November 2024, with Santiment saying that buyers are hesitating until there is a real catalyst that can push the price up.