XRP traders watch $1.42 resistance and Congress’s Clarity Act as analysts signal a major price move could arrive before any law passes.
XRP trades at $1.33 after a 1.69% drop in the past 24 hours, per CoinGecko. Trading volume hit $1.87 billion in that same window.
Two crypto analysts flagged nearly identical timing on social media, each pointing to a major price move brewing.
One built his largest XRP position at $0.36 back in 2022. The other is watching Congress, not just charts.
Related reading:
XRP Price Levels Traders Are Watching Right Now
Crypto analyst Stephanie Starr broke down the XRP chart across multiple timeframes.
She noted that the four-hour chart shows tight consolidation with building pressure.
The daily chart reflects a descending wedge, while the weekly sits on major support with a reset RSI. Starr described this as “compression before expansion.”
She pointed to $1.42 to $1.45 as the key bullish trigger.
A break and hold above that zone, she said, could push prices toward $1.60 and then $2.00. On the downside, losing the $1.25 to $1.30 range risks a liquidity sweep toward $0.90 to $1.00.
Either way, Starr expects a significant move is close.
Accumulation Signal Flashes for First Time Since 2022
Trader GeoMetric shared a longer-term perspective rooted in his own position history. He accumulated XRP heavily during the 2022 bear market at an average entry of $0.36.
When the 2024 rally pushed prices above $2.50, he exited, despite targeting $9.00 originally. He cited the sudden surge in retail excitement as his reason for selling early.
Now, GeoMetric says his Remora accumulation beam has flashed again. This is the first such signal since 2022. He notes XRP currently sits at the top of the base channel it occupied throughout the last cycle.
His Gann resonance grid places an absolute floor near $0.077, though he does not expect a long stay at those levels. A retest of the channel’s mid-line remains his base case, but he also acknowledges the possibility of a sharp bounce from current levels.
Read also:
Crypto Legislation Could Move Markets Before It Passes
Starr also weighed in on the regulatory angle.
Multiple lawmakers, policymakers, and institutions have publicly backed the Clarity Act, which seeks to define digital asset classifications. Congress returns Monday, and debate around the bill’s markup is expected to pick up pace.
Starr’s view is that markets will not wait for legislation to become law. She argues that a scheduled markup alone could trigger significant price movement.
By the time a bill passes, she says, the biggest moves will already be behind. Her phrase “price before law” captures the sentiment many traders now hold heading into the week.
Source: https://www.livebitcoinnews.com/xrp-stands-at-critical-price-point-amid-policy-hopes/
