Summary
- XRP declined by 2.05% over the past 24 hours, trading at $1.02, making it the only major cryptocurrency in the red among the top 10.
- The Senate adjourned without addressing the Clarity Act, postponing the vote on the market-structure legislation until at least September.
- XRP is currently positioned within a confirmed death cross, yet traders in prediction markets remain hopeful for its future.
The Senate has left Washington without voting on the Clarity Act, which has postponed the market-structure legislation until at least September. While most major cryptocurrencies remained stable or gained, XRP was the exception, experiencing a 2.05% drop.
In a week marked by a 3% decline, XRP stands out as the weakest among major cryptocurrencies. Bitcoin remained steady amid its own challenges, while Dogecoin rose by 1.38%, securing its position as the top performer in the top 10 assets by market capitalization.
This delay is significant for XRP, as its anticipated rally in 2025-2026 heavily relies on a definitive classification of the cryptocurrency by U.S. regulators. The Clarity Act aims to categorize cryptocurrencies as either securities or commodities, with drafts indicating that XRP, Solana, and Dogecoin would be classified as non-securities.
This classification would place these cryptocurrencies under the regulation of the CFTC, which is generally seen as a more favorable option compared to the historically stricter SEC.
For Ripple, whose co-founder was instrumental in creating XRP, this issue has been central to years of litigation regarding whether XRP qualifies as an unregistered security. Although Ripple has settled a $50 million penalty with the SEC, a formal law would provide clarity that a settlement cannot.
A law would resolve the regulatory uncertainty for all exchanges, custodians, and regulators simultaneously. In its absence, XRP remains in a state of legal ambiguity, which is reflected in its current trading patterns.
XRP Price Analysis
XRP is currently valued at $1.028, giving it a market capitalization of about $64 billion, and it has seen a slight decline of 0.71% today, having struggled to maintain its position above the $1.00 psychological threshold. This marks one of the lowest points on the daily chart since early 2024, only above last month's low of $0.9153.
XRP price data. Image: TradingviewThe price trend shows a consistent downward movement. XRP has been in a pronounced bearish trend since reaching $3 in 2025. The 50-day Exponential Moving Average (EMA) has crossed below the 200-day EMA, forming a death cross, indicating that the current price is below both averages, leaving no support beneath it.
The Relative Strength Index (RSI) currently stands at 35.9, which indicates bearish momentum, suggesting there could be further declines before potential buyers enter the market.
Additionally, the Average Directional Index (ADX) is at 11.9, indicating a lack of strong directional movement, as readings below 20 suggest choppy market conditions. The Squeeze Momentum indicator, however, indicates that volatility is increasing rather than stabilizing.
The absence of compression implies that there is no imminent significant price movement, resulting in slow trading conditions.
A bullish scenario could develop if XRP closes above $1.10, which is the lower Fibonacci retracement zone and the first significant resistance level. Progress on the Clarity Act, though not expected until September at the earliest, could also spark renewed interest among traders.
Conversely, if XRP falls below $1.00, it may pave the way for a decline to $0.9153, which is the lowest point recorded since 2024. A close at this level would reinforce the current downtrend and negate any recovery since 2024. Given the prevailing bearish trend, this scenario appears quite likely.
On Myriad, a prediction market platform from Decrypt’s parent company Dastan, traders are currently optimistic about XRP's short-term prospects. They are estimating a 77% chance that XRP will remain above $1.00, at least through the weekend.
Currently, the $1.00 mark is critical; if XRP stays above this level, it is considered undervalued and oversold; if it falls below, the chart indicates further declines are likely.