XRP Jumps 5% As Crucial Senate Vote Approaches

XRP gained over 5% on September 15, pushing the price back above $1.40. This upward momentum comes as the U.S. Senate prepares for a procedural vote on the CLARITY Act. Traders are watching closely because the bill could shift oversight of most digital asset transactions from the SEC to the CFTC, marking a major change for a token that has faced years of regulatory battles.

The upcoming vote requires at least 60 votes to move forward. Senate Republicans are pushing for the measure, while some Democrats, including Elizabeth Warren, have raised concerns. If the bill clears this hurdle, analysts believe XRP could break through key resistance zones around $1.49 and $1.55, potentially paving the way toward $1.70. On the flip side, a rejection could quickly pull prices back down toward $1.30.

Beyond politics, chart watchers are noticing familiar patterns. Analyst Celal Kucuker pointed out similarities between current price action and the setup before the late 2024 breakout. If history repeats itself, some traders are even eyeing ambitious long term targets well above current levels. For now, all eyes remain on Washington as the Senate decides the fate of the CLARITY Act.