XRP Price Target $2+ as CLARITY Act Agreement Reaches in White House

XRP price moved higher as renewed progress on the CLARITY Act improved confidence across the cryptocurrency market. 

Bitcoin price gained 2% to $66,310, helping major digital assets extend their recovery during Tuesday’s session. The total crypto market value rose 1.25% to $2.25 trillion within the latest 24-hour period. 

The sentiment was reinforced when the White House was reported to have accepted an ethics package as attached to the legislation. 

The agreement eliminated a significant barrier to the expansion of United States crypto regulation. XRP price could target the $2 level if buying pressure continues.

White House Reaches Ethics Deal on CLARITY Act

The White House has reportedly reached an agreement on ethics provisions connected to the CLARITY Act.

Journalist Eleanor Terrett disclosed that officials exchanged new verbiage with top Republicans in the Senate. The progress could eliminate the significant barrier that slowed down the negotiation.

The updated package is undergoing review by lawmakers before the bill goes through the legislative process again. The revised text can be published any time in the future, but there is no publication date mentioned by officials.

The CLARITY Act seeks to establish clearer federal rules for digital assets. It continues to be a closely monitored development in the cryptocurrency sector.

XRP ETFs Attract $2.49 Million as Total Inflows Reach $1.49 Billion

XRP exchange-traded funds recorded $2.49 million in daily net inflows as of July 20, led entirely by Bitwise. The fund also had the biggest total assets of 320.82 million assets, the biggest amount of listed XRP products. 

XRP Price Target $2+ as CLARITY Act Agreement Reaches in White HouseXRP Price Target $2+ as CLARITY Act Agreement Reaches in White House
Source: Sosovalue data

The cumulative net inflows of all funds were at $1.49 billion. The combined net assets were 1.02 billion, which is 1.46% of the market capitalization of XRP. The total trading value amounted to 11.67 million and Canary, Franklin, 21Shares, and Grayscale had no new daily inflows. The daily price increases were also made in all the listed products.

XRP Price Prediction: Can Bulls Push XRP Toward $2?

As of the reporting, the XRP price surged to $1.16, extending gains inside a rising four-hour channel. Buyers forced the XRP past the $1.12 resistance, making the level an immediate support.

The most recent action puts the next significant upside target of $1.20. A long term breakout of above $1.20 might open the way to $1.25. And if bulls mount more pressure, the XRP price could surge to $1.80-$1.90 in the near term

Momentum indicators however indicate that the rally can be short-term cooled. The RSI stood at 78.46, which means that XRP was squarely in the overbought region. Meanwhile, the MACD line remains above its signal line, supporting continued bullish momentum.

XRP Price Target $2+ as CLARITY Act Agreement Reaches in White HouseXRP Price Target $2+ as CLARITY Act Agreement Reaches in White House
Source: XRP/USDT 4-hour chart: TradingView

The pullback might re-test $1.12 then buyers will make another move forward. Failure to hold that level may expose XRP price to $1.07 support. A close under $1.07 would negatively affect the structure of the bullishness and make the downward risks more risky.

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