XRP Cools Down As Crucial CLARITY Act Senate Vote Approaches

XRP bulls are running into some resistance this week, even with a major U.S. Senate vote on the horizon. The token recently saw its upward push stall out after failing to break past the $1.11 mark three separate times in a single day. Price action quickly pulled back to around $1.09, catching the attention of traders who are tracking short term support levels.

At the same time, market interest remains high as lawmakers push for a potential floor vote on the CLARITY Act during the week of August 3. Betting markets currently price a solid chance of the crypto regulatory bill passing into law by 2026. This legislative push is keeping the coin in the spotlight, even though immediate trading volume has spiked while prices dipped.

Technical indicators suggest the short term trend is cooling off. The relative strength index has slipped below its moving average, pointing to fading buying pressure. If the current $1.09 support floor fails to hold, prices could slide further toward $1.05 or $1.02. On the upside, bulls need a clear daily close above $1.11 to spark another run at the $1.15 resistance zone.

Traders should keep a close eye on Washington next week for any official updates regarding the Senate schedule. Clear legislative progress could bring volatility back to the charts very quickly.