XRP News: Ripple CEO Brad Garlinghouse Reveals 1000% XRP Commitment

Over the last couple of weeks, buzz has been growing about the CLARITY Act, a proposed new framework for US crypto regulation. The bill’s first markup is scheduled for tomorrow morning.

But what is the significance of this new crypto bill, and which industry players support it?

New Act Brings CLARITY To Crypto Regulation

Since the GENIUS Act cleared a key cloture vote, US crypto policy has been an especially important topic. In late May, GOP Congressman French Hill proposed the Digital Asset Market Clarity (CLARITY) Act, a new framework for Web3 regulation.

The bill’s first markup will happen tomorrow morning at 10 AM EST.

The proposed act assigns the CFTC as the primary regulator for digital commodities (on‑chain tokens), including exchanges, brokers, and spot markets. It preserves the SEC’s authority over investment contract assets—securities under the Securities Act.

Overall, it creates precise definitions and compliance pathways to reduce inconsistent enforcement.

In addition to consumer protection measures, it attempts to provide thorough rules for defining tokens as securities or commodities, a thorny issue for regulators.

Without getting into excessive detail, the bill aims to remove ambiguity from several such situations.

Although it was proposed by a Republican, the CLARITY Act has strong bipartisan support, reflecting the desire to create a solid framework for crypto regulation.

However, the initial language focused specifically on assets, their classification, and firms that custody them. The proposed bill also exempts “DeFi activities” (like developers, transaction relayers) from conventional registration.

It also explicitly protects peer-to-peer transactions and individual self-custody of assets.

New and Upcoming Amendments

To correct some of the oversight, The Blockchain Regulatory Certainty Act (BRCA) was recently introduced as an amendment to the bill. Presently, the crypto industry’s political lobbying groups are attempting to help it along.

In addition to an initial show of support, eight leading trade associations have made further statements earlier today:

Specifically, this amendment would ensure that the CLARITY Act doesn’t apply heavy-handed regulations where it isn’t appropriate.

However, some regulators may also disagree with this overall ethos. After all, what are laws like this for? Former CFTC Chair Tim Massad, who recently warned of crypto corruption, also testified about some potential pitfalls in the CLARITY Act:

“The CLARITY Act seems to start with the technology and ask, what do we need to do to make it easier for people to invest in this technology? But the strength of our securities and derivatives laws lies in the fact that we have traditionally focused on regulatory goals, and provided…the flexibility to achieve those goals,” Massad claimed.

Similar criticisms have been leveled at a wide range of recent crypto regulations, and the CLARITY Act will likely face more of the same.

It’s not yet clear how much this will impact the final bill, but the GENIUS Act underwent substantial amendments from its first version. Between tomorrow’s markup and the voting process, this bill could change dramatically in the next few weeks.

The post What is the CLARITY Act and Why Does it Matter? appeared first on BeInCrypto.

Despite recent volatility, prominent analysts argue XRP’s technical setup is not bearish yet. They highlight specific price levels crucial for confirming the trend.

A technical evaluation of XRP’s recent 5-day chart adds context to these analyst views.

Analysts Remain Cautiously Optimistic About XRP Price

XRP prices dipped nearly 7% over the past week amid heightened geopolitical tensions, notably driven by US airstrikes on Iranian facilities. The altcoin fell from roughly $2.20 to a low near $1.90 before stabilizing around $2.06.

Veteran trader Peter Brandt highlighted a potential Head-and-Shoulders (H&S) pattern on XRP’s chart. This is traditionally a bearish indicator that signals a reversal from bullish to bearish if key support levels break. 

However, Brandt emphasizes caution against premature bearish conclusions. He explicitly notes the importance of XRP maintaining support above $1.80.

A decisive weekly close below that critical level would be needed to confirm a bearish scenario.

Meanwhile, analyst EGRAG CRYPTO provided a detailed bullish perspective using multiple technical indicators.

The Gaussian Channel is a volatility indicator used to identify trend strength and potential reversals. Closing within this channel boundary, around $1.75 currently, could signal weakening momentum and possible downward pressure. 

EGRAG emphasizes the importance of XRP staying above this boundary to maintain bullish strength.

Additionally, the 21-week EMA acts as a critical moving average that traders use to identify macro trends. 

A close above the EMA level of $2.33 would signify strong bullish momentum. 

Moreover, breaking above the resistance at $2.65 would confirm a robust long-term bullish trend.

EGRAG also applies Elliott Wave analysis, a technical approach that identifies repeating patterns (waves) in market prices to forecast potential targets. 

Using Elliott Wave ratios, the analyst projects XRP could reach between $9 and $10 if the altcoin successfully completes its anticipated fifth wave, provided current support levels hold firm.

Short-Term Technical Analysis Supports Caution

XRP faced significant selling pressure as prices declined sharply towards $1.90, confirmed by the Accumulation/Distribution (A/D) line dropping notably. 

The A/D line measures cumulative buying and selling pressure, and its decline indicates higher trading volume on price decreases, reflecting strong seller activity.

As XRP price reached support near $1.90, the A/D line stabilized and began a modest climb during the rebound, indicating renewed buyer activity. 

Nevertheless, the accumulation during this rebound has not yet fully neutralized the earlier distribution, suggesting caution remains warranted.

Meanwhile, the Chaikin Money Flow (CMF), an indicator showing the strength of money flowing into or out of an asset, turned negative during the sell-off, confirming strong outflows. 

Although CMF improved somewhat during XRP’s rebound, it remained weak and did not enter positive territory, signaling that buyers remain tentative.

Consolidation and Critical Levels to Watch for XRP

These technical indicators suggest XRP is currently in cautious consolidation. While support near $1.90 proved strong, the limited improvement in CMF indicates ongoing market uncertainty.

Overall, this analysis aligns with analyst views that key support around $1.75 to $1.80 remains intact. Only a decisive weekly close below these supports would validate a bearish outlook.

Traders should closely monitor XRP’s interaction with critical support and resistance levels. 

Specifically, a confirmed breakout above $2.33 and then $2.65 would signal bullish continuation, while a decisive breach of $1.75-$1.80 support would indicate increased bearish risk.

The post Why Analysts Claim XRP Price Pattern Is Not Bearish appeared first on BeInCrypto.