XRP Price Forecast as Whales Scoop 600M Coins on CLARITY Act Optimism

Ripple (XRP) price is in focus after shark and whale wallets purchased 600 million tokens in five weeks. The purchase comes amid optimism that the US Senate might vote to pass the CLARITY Act before the August recess.

XRP price is down by 1.73% today, July 23, to trade at $1.13 at the time of writing, with $980 million in trading volumes per CoinMarketCap data.

XRP Whales Scoop $625M Coins as CLARITY Act Debate Heats Up

Santiment notes that the traders who hold between 100,000 and 100 million XRP coins have increased their holdings by 2.8% in the five weeks leading to July 22.

This means that they have purchased 600 million coins that are worth around $678M at the current price of XRP of $1.13.

The purchases come as Ripple CEO Brad Garlinghouse urges Congress to pass the CLARITY Act bill before it goes on recess in August.

Senate Republicans released an updated version of the CLARITY Act text on July 22 that contained an ethics provision that barred the President from issuing digital assets.

But the ethics provision did not sway Democrats because the odds of CLARITY Act passing have dropped to 39% as the senators argue that the state Attorneys general should be the ones to enforce the ethics provision.

This recent opposition towards CLARITY Act has reduced demand for XRP ETFs because data from SoSOValue shows that they had zero flows on July 22.

XRP Price Nears Breakout as Bull Flag Emerges

XRP has created a bull flag pattern on its four-hour chart that usually suggests that gains could continue.

This bull flag has a height of 7.25%. This suggests that XRP could gain by 7.25% and reach $1.24 if it closes above the resistance of $1.16.

The RSI reading of 55 suggests that the momentum is bullish, and this could push the price to $1.24 like the bull flag suggests.

XRP also remains above the 50-day EMA of $1.11 and the 200-day EMA of 1.12, and this shows that both the short-term and the long-term momentum is bullish.

But the bullish outlook seen in the bull flag might fail if the price of XRP moves below the 50-day EMA support of $1.11. Such a move could bring sellers back, and XRP could drop to the July 20 low of $1.08.

Futures Data Shows Weakening Speculative Demand

Data from Coinglass shows that XRP’s open interest has dropped by 1.17% to $2.50 billion. This OI has dropped from $2.96 billion seen on June 1, suggesting that traders have been closing their futures positions on XRP.

The drop in OI comes after many long liquidations due to a drop in XRP price because of a bearish sentiment in the crypto market.

BlackRock CEO Larry Fink notes that the liquidations flushed out excess leverage from the crypto market and he is now “very bullish” that prices will recover.

XRP derivatives volumes have also dropped from $15 billion in February 2026 to $1.91 billion at the time of writing per Coinglass data.