XRP rebounded past $1.39, recovering from an intraday low of $1.27 following a Senate vote failure on the CLARITY Act and a Federal Reserve interest rate decision, according to market data analyzed by BeInCrypto. The token climbed 7.27% over a 24-hour period, outpacing short-term regulatory headwinds that initially triggered an 8% drop.
The legislative hurdle occurred on September 15, when the U.S. Senate fell short of the 60 votes required to invoke cloture on the digital asset framework known as the CLARITY Act. According to the legislative record, the motion failed in a 50 to 49 vote, delaying federal-level regulatory clarity for the broader cryptocurrency industry. The defeat prompted an immediate sell-off, pushing XRP down to a low between $1.27 and $1.28.
Compounding the macroeconomic pressure, the Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75% to 4.00%, marking the first hike since 2023. Despite the combination of stalled regulation and tighter monetary policy, the broader market absorbed the news quickly. Trading volume for XRP remained robust at approximately 39억 달러, matching its 30-day average and signaling active buyer participation rather than thin, low-liquidity spikes.
On-Chain Metrics and Market Correlation
On-chain data provider CryptoQuant reported that whale deposits on Binance reached a six-month high during the volatility, while futures open interest recovered to pre-vote levels. Analysts noted that derivatives participation has stabilized as traders re-enter positions.
The wider cryptocurrency market moved in tandem with XRP’s recovery. Bitcoin gained 5.49% to trade at 8만752달러, Ethereum rose 5.53% to approximately $2,595, and Solana surged 10.75% to $112.34. The collective altcoin market capitalization reached 2,220억 달러, marking an eight-month high for the sector.
Technical Outlook and Price Levels
Technical charts show an emerging inverse head-and-shoulders pattern on the daily time frame, with a neckline situated near $1.55. Market analysts suggest that a confirmed breakout above this resistance could clear a path toward the 2달러 threshold.
The Relative Strength Index (RSI) sits at 54, placing the asset in neutral territory without immediate overbought warning signals. Despite the recent bounce, XRP remains down roughly 62% from its all-time high, confined within a multi-month accumulation range.
Market participants are closely watching whether XRP can sustain consistent daily closes above $1.41 on strong volume to confirm a definitive trend reversal rather than a range-bound relief rally.
Worth a look