Expert Flashes 2 Bullish Signals For XRP As CLARITY Act Eyes July 20 Target

Kritika Mehta
Updated
Kritika Mehta

Kritika Mehta

News Writer & Journalist
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
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XRP Price Prediction as CLARITY Act Nears President’s Desk

Ripple’s XRP may be preparing for a bounce with a strong crypto analyst signaling two signs of a bullish shift. This optimism comes as lawmakers in Washington push to get the CLARITY Act off the ground before Congress heads into its August recess.

XRP Chart Shows Bullish Signs

Crypto analyst Ali Martinez shared a post on X that suggests that XRP’s daily chart is showing “two bullish signals” that could signal that the rally is coming to an end. The first signal, according to Martinez, is the Tom DeMark Sequential indicator. It has “printed a buy signal via a ‘9’ candlestick.” The pattern “historically anticipates a one-to-four daily candlestick relief rebound,” he added.

The XRP price action of the past three trading sessions has also formed a “Morning Star Doji” candlestick pattern. For context, it is a pattern widely recognized by technical traders as a reversal chart pattern that can appear closer to the bottom of the market, Martinez said.

The confirmation would rely on the participation of buyers, he wrote. The analyst added, “If buying volume accelerates here, $XRP could rise toward $1.30.”

The Crypto Market Structure Bill Now Faces July 20 Deadline

The positive technical analysis for XRP comes as the digital asset sector remains hinged on the updates around CLARITY Act. There are ongoing negotiations even as Congress adjourns Washington for the July 4 recess, said journalist Eleanor Terrett. She added there is “a renewed sense of urgency among Senate Republicans to get this bill across the finish line.”

However, “there is quite a lot left to do” on the CLARITY Act, Terrett emphasized. She noted that unresolved provisions include ethics and differences between the drafts from the Senate Banking and Agriculture Committees. In addition, sticking points include state preemption rules, language on conflicts of interest in the exchanges and others.

She also noted that “key Democratic votes are expected to hinge on whether the bill includes an ethics framework that they view as strong enough to address President Trump’s crypto businesses.” Hence, the odds for the crypto bill passing has dropped to 50%, per Galaxy Digital.

The challenge of Senate floor vote scheduling still exists for the CLARITY Act. Senate Majority Leader John Thune has acknowledged “time is running out to solve some of these outstanding issues.” Also, the annual defense authorization bill is expected to take priority upon the return of lawmakers July 13, Terrett said.

Assuming there is enough progress in the negotiations during the congressional recess and any other legislative priorities that could delay consideration don’t come into play. That’s the earliest realistic time to get a vote on the CLARITY Act underway, Terrett said, “the week of July 20th onwards.”

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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.
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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.

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About Author
About Author
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.