XRP climbed toward $1.40 on Thursday as SEC Chair Paul Atkins said he expects the Senate to advance the CLARITY Act, adding a regulatory tailwind to a broader crypto rally. Separately, an SEC filing showed asset manager Kinetics disclosing fresh stakes in Ripple Labs' private shares.
XRP moved higher on Thursday as improving sentiment encouraged traders to target a breakout above $1.40, with the broader crypto market rising 1.67% in 24 hours to a $2.63 trillion market capitalization. SEC Chair Paul Atkins said he expects and hopes the Senate will advance the CLARITY Act.
Atkins Expects Senate to Advance CLARITY Act
A cloture vote is scheduled for September 15 and requires 60 senators to vote in favor of further debate, moving the crypto market structure bill closer to President Donald Trump's desk. Atkins called the legislation significant to American cryptocurrency policy in comments on Fox Business Wednesday, adding that clearer rules would encourage crypto companies to operate under U.S. law.
He also said the SEC is working on its own crypto proposal to supplement the legislation, with the agency's framework open for public comment. Atkins added that regulators could still act under existing securities laws if Congress fails to pass the bill, though he said legislation would offer a more sustainable basis for market regulation.
Kinetics Discloses Ripple Labs Stakes
Kinetics funds disclosed holdings of Ripple Labs Preferred A shares in SEC filings, with positions valued at $82,106 for 625 shares and $164,213 for 1,250 shares. The disclosures point to continued institutional interest in Ripple's private equity, adding to signs that Wall Street firms are quietly building exposure to the company ahead of broader regulatory clarity for the crypto sector.
XRP Eyes $1.50 After Bullish Crossover
XRP traded at $1.3817 after gaining 3% over four hours, regaining its position at $1.33 and heading toward resistance at $1.40. The Relative Strength Index climbed to 54, indicating improving momentum without overbought conditions. The MACD histogram turned positive at 0.0044 after the MACD line crossed the signal line. Both MACD lines remain below zero despite the bullish crossover, so XRP may need stronger demand to sustain the recovery.
A break past $1.40 would reveal the next target at $1.50, a level that has constrained XRP's price in the past. A move above $1.50 could extend gains toward $1.60, with the previous swing high of $1.68 as the extended bullish target.
On the downside, the first significant support sits at $1.33. A deeper pullback may challenge the consolidation floor around $1.30, and losing that level could shift focus to $1.20.
Sources: CoinGape, Coinpedia Fintech News (snippet-based)
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