XRP climbed 13% to $1.377 on Friday, leading a broader crypto market rebound as optimism grew over U.S. regulatory clarity. The token’s advance brought it within striking distance of immediate resistance at $1.378, with the next target at $1.488 and a breakout level at $1.633. Support is seen at $1.233 and $1.123.
Bitcoin rose 7.7% to $77,173, its highest since late May, while Ethereum and Solana each gained 5%. The crypto complex’s surge followed remarks from former U.S. President Donald Trump, who urged Congress to pass a revised version of the Clarity Act. The legislation aims to delineate oversight roles between the SEC and CFTC, addressing a long-standing point of contention in the industry.
XRP’s weekly performance surged 37.7%, extending a monthly gain of 20.4%, though it remains down 25.3% year-to-date and 51.7% over the past year. The token’s 52-week range spans $0.9884 to $3.1853. Technical indicators on the 1-hour and daily timeframes signal strong buying momentum, with RSI readings of 67.3 and 82.9, respectively—though the daily RSI suggests deep overbought conditions. The weekly timeframe remains neutral, with an RSI of 52.5 and a MACD still in sell mode.
Regulatory clarity has been a focal point for Ripple since the SEC filed a lawsuit against the company in 2020. The case, which centered on whether XRP should be classified as a security, has weighed on the token’s price and market sentiment. A resolution aligning with Ripple’s arguments could further bolster XRP’s prospects.
