Senate cloture vote on crypto bill lifts XRP to three-week high
Regulation & Gov ·
XRP climbed from under $1.35 to $1.50 as traders positioned ahead of a Senate procedural vote on the CLARITY Act.
The token's move to a three-week peak came as the broader cryptocurrency market rallied on Monday, a rally some found notable given expectations for a Fed rate hike, according to CryptoPotato. XRP was rejected at the $1.50 level but held close to $1.40 heading into the Senate action.
The vote at the center of the move is a cloture motion, not a final passage vote, and requires 60 votes to advance the CLARITY Act to formal debate, meaning Republicans need Democratic or independent support while holding their own caucus together. Senate Republicans circulated a revised version of the bill over the weekend addressing disagreements on stablecoins, banking competition, and public officials' crypto holdings, but Senate Democrats countered with their own proposal late the night before the vote, even after Republicans had described their version as final, per CryptoPotato.
For XRP specifically, the legislation matters because it would create a lasting statutory split of oversight between the SEC and CFTC and set clearer rules for digital-asset intermediaries, building on the regulatory clarity the token already gained coming out of Ripple's dispute with the SEC.
Analysts cited in the same report are largely bullish on the setup. CasiTrades points to an upside target of $1.74-$1.78, with $2.00 possible if momentum holds, while EGRAG CRYPTO flags the $1.38-$1.40 zone, tied to the 100-day EMA, as the level that needs to hold to preserve the bullish structure; losing it, the analyst warns, could trigger a sharper decline. Other analysts, including Mikybull Crypto and Bird, also noted improving momentum in XRP heading into the vote, and a sustained break above $1.50 is seen as the next step toward $1.60 and then the $1.74-$1.78 range.
What remains unresolved is the outcome of the cloture vote itself and whether the competing Democratic proposal narrows or widens the gap needed for 60 votes, along with whether XRP can hold the $1.38-$1.40 support that analysts describe as pivotal to the broader bullish case.