While the XRP price is trying to hold on to the important support zone around $1.02 after the recent decline, the progress of the CLARITY Act for digital assets in the USA is also in the focus of the markets. Analysts state that whether this technical level can be maintained may be decisive in terms of short-term direction.
Critical support zone for XRP stands out
According to technical evaluations shared in the market, XRP is trading in a region that is considered one of the most important support areas of this cycle. Analyst ChartNerdTA points out that the 2-week 200 exponential moving average and the 300-week simple moving average are crossing at around $1.02. Such averages are used to monitor the medium and long-term trend of the price.
Mini dictionary: POC, that is, Point of Control, refers to the price level at which the highest transaction volume occurs in a certain period. EMA is a moving average that reacts faster to price changes, while SMA calculates the average price over the selected period with equal weighting.
In the analysis, a similarity was established with the bottom zone in the 2022 bear market. At that time, XRP fell approximately 23% below the 2-week 200 EMA level, then formed a cycle bottom and entered the recovery process. It is stated that if a similar structure is repeated, the price could theoretically approach the $0.80 region, but this is not considered a definitive scenario.
According to ChartNerdTA’s assessment, the market is watching whether the price will react around the POC formed at current levels; If this area is protected, there is a possibility of recovery, and if it is broken, a deeper correction is likely.
While some investors keep the possibility of a final weakening on the agenda after the last wave of sales in the short term, others argue that the developments on the fundamental side are not as negative as the technical outlook.
CLARITY Act brought regulatory debates to the fore again
While price pressure continues, the CLARITY Act regarding digital asset regulations in the USA also affects industry-wide expectations. The bill aims to ensure that assets in the nature of investment contracts remain under SEC supervision, while assets classified as digital commodities are mainly subject to CFTC supervision.
The bill, which passed the Senate Banking Committee by a vote of 15 to 9 in May, was placed on the Senate calendar in early June. However, it is not yet clear how the process will proceed due to discussions on ethics rules, liability protections for developers and broader regulatory topics.
With the “Clarity Truck” exhibited in Washington, Ripple called on policymakers to support the creation of clear and consistent rules for digital assets.
Ripple, as a US-based blockchain company working on XRP Ledger technology and known for its cross-border payment infrastructure, is among the most visible supporters of the regulation in question. The House Financial Services field hearing scheduled for July 17 in New York is also expected to increase political pressure on the bill.
Technical indicators give mixed signals
According to TradingView data, although the general technical outlook is neutral, the weak picture remains in the sub-indicators. 16 of the monitored signals are selling, eight are neutral and two are buying. XRP also declined by 2.86% in the last 24 hours, trading around $1.02 at the time of writing.
| Indicator | Level | Comment |
|---|---|---|
| main support | $1.00 to $1.02 | Critical zone in the short term |
| close resistance | $1.14 to $1.15 | Needs to be overcome for the outlook to improve |
| deep support | $0.81132 | Lower support zone |
Moving averages indicate that the downward trend continues. The 10-day EMA is at $1.12065, the 20-day EMA is at $1.15322 and the 50-day EMA is at $1.23333, while the 200-day EMA is at $1.54315. On the other hand, the RSI is close to the oversold threshold at 33.89. Stochastic RSI was measured at 14.16 and Williams %R was measured at minus 88.51. Despite this, the MACD continues to remain at minus 0.04456.
This chart shows that the selling pressure may have weakened somewhat, but there is not yet enough confirmation for a strong recovery. Market participants are now watching to see whether the $1.00 to $1.02 range can be maintained and whether the $1.14 to $1.15 range above can be regained.
