XRP rebounded sharply this week, gaining more than 7% over 24 hours to trade near $1.39, reversing losses from a failed regulatory vote and monetary policy decision.
On September 15, the CLARITY Act fell short of passage in a 50-49 Senate cloture vote, missing the 60-vote threshold needed to advance the proposed federal framework for digital assets. XRP initially declined more than 8%, touching lows near $1.27 to $1.28.
Additional pressure came the following day when the Federal Reserve raised its benchmark interest rate by 25 basis points to a range of 3.75% to 4.00%, a move that typically affects risk assets broadly. However, the selloff proved temporary.
XRP has since recovered to $1.39, with trading volume holding near $3.9 billion, close to its 30-day average. Large whale deposits to Binance reached six-month highs, and futures open interest climbed back above levels seen before the failed vote, indicating renewed large-scale market participation.
The broader cryptocurrency market moved in similar fashion. Bitcoin gained 5.49% to trade near $80,752, Ethereum rose 5.53% to roughly $2,595, and Solana surged 10.75% to $112.34. The total altcoin market cap climbed to $222 billion, its highest level in eight months.
XRP's relative strength index sits near neutral territory at 54, leaving room for further upside without yet showing overbought conditions. The token remains 62% below its all-time high and continues trading within a broader consolidation range that has persisted for months.
Whether the recovery sustains will likely depend on XRP's ability to consistently close above $1.41 on strong volume, according to market observers.
