XRP traded near $1.42 on Sunday, gaining 0.71% as cryptocurrency markets steadied after a volatile week. Bitcoin hovered around $79,973, while Ethereum was at $2,499 as markets awaited the Federal Open Market Committee meeting scheduled for September 15-16.
Senate Delays CLARITY Act Vote
The Senate postponed action on the CLARITY Act before recess after lawmakers failed to resolve several policy disagreements. The legislation would define regulatory roles for the Securities and Exchange Commission and Commodity Futures Trading Commission.
Senators returned September 14, leaving a narrow window before election campaigning limits available floor time. Any procedural cloture vote would require 60 senators, making bipartisan support essential for the bill to advance.
Points of contention include ethics restrictions, stablecoin rewards, decentralized finance protections, and the balance of authority between financial regulators. The postponement does not formally defeat the measure but reduces time for negotiations and potential House reconciliation.
XRP held above $1.40 despite the setback, suggesting buyers continued to defend the token's immediate support level.
XRP Spot ETF Activity and Technical Levels
XRP spot exchange-traded funds recorded no daily net inflows on September 4, though cumulative inflows totaled $1.68 billion. Total net assets reached $1.48 billion, representing 1.69% of XRP's overall market capitalization. Trading activity totaled $36.21 million as every listed fund closed lower, with Franklin's XRPZ declining 4.94% and Bitwise's XRP fund falling 4.86%. Bitwise dominated the market with net assets of $507.47 million and cumulative inflows of $599.31 million.
On the four-hour chart, XRP consolidated above the $1.40 support level, indicating active buying interest. The Relative Strength Index measured 54.92, showing balanced momentum with a slight bullish inclination. The MACD line fell slightly below its signal line, suggesting lower short-term momentum. A four-hour close above $1.50 would signal renewed demand and potentially lead to $1.60, while failure to hold $1.40 could result in increased selling pressure toward $1.30.
