XRP price is showing fresh signs of strength as traders watch whether the token can reclaim the important $2 level. The asset has been consolidating near a key breakout area after forming several bullish patterns on the weekly chart. Improving regulatory sentiment, whale accumulation, and falling exchange supply are also supporting a stronger market outlook.
XRP recently traded near $1.45 after briefly moving toward the $1.50 area. The token has recovered from its earlier lows near $1.20, helped by better market sentiment and growing hopes for clearer crypto rules in the United States.
A major catalyst came after the U.S. Senate Banking Committee advanced the CLARITY Act in a 15–9 vote. If passed, the bill could help classify XRP as a digital commodity, which may increase institutional confidence in the asset.
On-chain data also points to strong accumulation. Wallets holding at least 10 million XRP have reached their highest level in about eight years. At the same time, XRP supply on centralized exchanges has dropped near a seven-year low of around 1.7 billion tokens.
From a technical view, XRP has formed a rounded bottom pattern, also known as a cup formation. The key neckline resistance sits near $2. A clear breakout above this level could open the door for a move toward the $2.80 to $3 range.
Momentum indicators are also improving. The weekly MACD is close to a bullish crossover, while the histogram is showing stronger green bars. This suggests that selling pressure may be weakening.
However, XRP still needs strong buying volume to confirm a larger breakout. The $2 level remains a major resistance zone where previous rallies have failed. If buyers cannot hold the $1.40–$1.45 support area, XRP may pull back toward $1.25.
For now, XRP’s bullish setup remains active, but the next major move depends on whether buyers can reclaim $2 with confidence.
