Key Insights
- XRP dropped 0.9% in 24 hours, falling to $2.09 as resistance at $2.13 held strongly ahead of a key U.S. Senate meeting.
- The U.S. Senate will review the CLARITY Act on January 15, proposing a regulatory framework for crypto assets and trading practices.
- XRP spot ETFs attracted $4.92 million in inflows, showing investor support even as short-term technical indicators reflect bearish momentum.
XRP recorded a 0.9% decline over the past 24 hours, retreating to approximately $2.09 as investors prepare for the January 15 Senate markup of the CLARITY Act. The digital asset was down in a sharp reverse of its high of the last day of January 6 at $2.40, with the level at the resistance not broken at 2.13. The day has seen price action that was volatile, ranging between $2.08 and $2.13.
Broader Market Posts Modest Gains
Despite XRP’s retreat, the overall cryptocurrency market posted a 0.6% gain in the same 24-hour period, extending its weekly rise to 0.73%. The total crypto market capitalization is at the level of more than the $3.05 trillion mark, but it is still 2.32% below on the monthly chart. Bitcoin remained above the mark of 90,000, whereas Ethereum occupied the range of 3,000.
A notice from the U.S. Senate Committee states that legislators will hold a meeting on January 15 at 10:00 AM ET to deliberate over the Digital Asset Market Structure and Clarity Act of 2025. The bill, which is referred to as the CLARITY Act, defines more specific regulatory roles of the Commodity Futures Trading Commission. It also addresses wash trading and mandates proof-of-reserve disclosures for digital asset platforms. The hearing signals increasing urgency from legislators to define the legal framework of the crypto space.
XRP ETF Inflows Indicate Investor Confidence
U.S.-based XRP spot ETFs registered net inflows of $4.92 million on January 9. This inflow corresponds to around 2.32 million XRP being added to spot funds. The continued capital movement into XRP ETFs shows ongoing investor interest and confidence, despite recent short-term price pressure.
Market indicators are an indication of stagnation in the upward trend. The MACD is below the signal line, indicating that it is bearish in the short run. The Relative Strength Index is at an average of 43, which means that it is at a neutral position and not showing any signs of being oversold. The amount of trading has slowed down since the rally of the previous week, and this is an indication of investor caution before the Senate meeting.
The possible Price Levels to monitor
At this point, XRP will likely make an attempt to recover to the level of $2.20 in case it is above the $2.00 threshold. An upside of this level would lead to additional objectives at 2.35 and 2.50. On the negative side, a fall below $2.00 would lead to the movement of the price to below 1.90, and further on the negative front is the support of 1.80, where the selling pressure would be even stronger.
