XRP has dropped nearly 8% over the past week, sliding from about $1.47 to roughly $1.35 as the broader crypto market weakens. Traders are watching whether XRP holds its $1.34-$1.35 support zone ahead of next week's Senate vote on the Clarity Act, while new ETF filings add an institutional angle to the token's outlook.
The token has fallen from around $1.47 on September 3 to about $1.35, a decline that has tracked a broader pullback across crypto markets. It now needs to defend the $1.34-$1.35 zone, since a break below $1.30 could put $1.20 back in focus.
XRP tests key support levels
XRP has traded in a range since August 22, struggling to clear the $1.45-$1.52 resistance area while buyers keep defending support near $1.34. A move below that level could increase selling pressure and expose the token to $1.20, and a failure there could open the way toward $1.
On the upside, XRP needs to reclaim $1.40 and hold above it, and a move above $1.52 would signal the decline is losing momentum. Some analysts are also watching the $1.29 area, flagged as a key weekly support level. Technical signals remain mixed: XRP recently recorded a bullish two-week MACD cross, a pattern that has appeared near previous long-term lows, but the token still sits below key weekly moving averages.
Clarity Act vote looms over sentiment
The Senate's upcoming vote on the Clarity Act is another factor XRP investors are watching. Some senators have said they do not currently have enough votes to advance the bill, and that uncertainty has added pressure to the crypto market. A positive development could improve sentiment toward US-based digital assets, while a delay or failure to advance the bill could keep pressure on the market.
Institutional products keep building around XRP
XRP is also gaining exposure through institutional products. A filing reportedly showed about $11.39 million in XRP ETF shares used as repo collateral under JPMorgan Securities and Bank of America Securities. New Nasdaq Texas listing rules, meanwhile, let certain commodity-based crypto trusts allocate up to 15% of their assets to holdings outside standard eligibility requirements, which could make it easier to include XRP in diversified crypto funds. That change does not guarantee new XRP ETF launches, and its effect will depend on whether issuers launch products and how much capital flows in.
T. Rowe Price has also updated its crypto ETF filings, with XRP reportedly representing a 9.15% allocation in one product, higher than Solana's 8.73% in the same fund.
Source: Coinpedia Fintech News
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