It is clear why XRP is on the rise. Today, September 15, the price of XRP jumped by more than 5% after it was announced that the U.S. Senate is holding a procedural voting on the CLARITY Bill. XRP then climbed back to $1.4. XRP’s rally chances now heavily depend on the outcome of that vote. The XRP forecast is split into two distinct paths based on what happens. The bill’s progress could allow XRP to break the $1.7 resistance, but if it is rejected the price of XRP will fall back towards $1.3.
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XRP Price Prediction And Resistance Signal A Movement
XRP Rally Picks Up Steam Before Clarity Act Vote
Senate Republicans continue to push for the Senate vote, which needs 60 votes in order to proceed. However, they are still missing around six Democratic Senators. Elizabeth Warren, ranking Democrat in the Senate Banking Committee spoke against the bill Monday night, claiming that it would not prevent Trump from profiting off of crypto businesses. Senate Republicans described their latest version of the text in the following way.
Senate Republicans:
“the final, best, and last offer presented to Democrats.”
Bill would put most digital asset transactions decentralized under the jurisdiction of CFTC instead of SEC. And that’s important to XRP. A token which has spent many years fighting SEC suits over its security status.
Celal Kucuker’s XRP Rally Chance Relies on a repeat pattern
Kucuker’s chart shows two descending resistance lines, and both carry a 13.55° angle, one from before XRP’s late 2024 breakout and one from the current decline. He argues that XRP currently sits near its 50-day moving median, close to where the rally began, and he’s projecting a potential 600% move, that could push XRP beyond $9 if the same pattern is repeated.
Celal Kucuker said:
“Save this chart, print it out, and hang it on your wall.”
Where XRP resistance is now before any bigger move
Voting results tend to be very similar to the current technical situation. Even August’s rally couldn’t hold above $1.55 for very long. If CLARITY passes the 60-vote mark, the XRP zone of resistance could be broken and the way to the $1.7 high will open. In the event that it does not pass, profits could be taken and XRP may fall back towards $1.3, or where six-month average volume weighted price is currently located.
The chart and vote have created two distinct paths for XRP to move in a larger direction. Both feed into the same XRP forecast. Kucuker would have a better chance of predicting a rally in the short-term if XRP closes above $1.7. A no vote, however, would stall everything and pull XRP to its lower range. In either case, the next couple of hours will be crucial to XRP.
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Source: watcher.guru
