XRP recovers as SEC and CFTC pursue rulemaking after Clarity Act failure

XRP Ripple Clarity Act cryptocurrency regulation XRP Ledger

The U.S. Senate recently failed to advance the Digital Asset Market Clarity Act, which aimed to establish a federal framework for cryptocurrency classification and regulatory authority between the SEC and CFTC. Despite this legislative setback, Ripple CEO Brad Garlinghouse emphasized that the failure does not change the future of the industry, asserting that superior technology will ultimately prevail.

In the wake of the bill's collapse, the SEC and CFTC are reportedly accelerating independent rulemaking efforts to fill the regulatory vacuum. This includes initiatives regarding the tokenization of securities and the establishment of digital asset taxonomies.

Market activity for XRP has shown resilience. The XRP Ledger recorded over 2.34 million transactions on September 18, an 8.9% increase from the previous day, surpassing its 30-day average. This surge in on-chain activity coincided with a price rebound, with XRP reclaiming levels above $1.40. Technical analysts are monitoring a potential inverse head-and-shoulders pattern, suggesting that a breakout above the $1.55 neckline could drive the price toward $2.

Entities

Ali Martinez · Brad Garlinghouse · CFTC · Commodity Futures Trading Commission · Dark Defender · Ripple · SEC · Securities and Exchange Commission · U.S. Senate · United States Senate · XRP · XRP

Claims

What the coverage asserts, and how many sources carry each claim.

[● 4 SOURCES] The XRP Ledger processed 2,344,225 transactions over a 24-hour period on September 18. u.today · cryptonewsland.com · coin-turk.com · dmarketforces.com
[○ 1 SOURCE] XRP is forming the right shoulder of an inverse head-and-shoulders pattern. finbold.com
[○ 1 SOURCE] Analyst Dark Defender projects a price target of $333 for XRP based on Elliott Wave analysis.
[● 3 SOURCES] Network activity on the XRP Ledger increased by approximately 8.9% compared to the previous day. u.today · coin-turk.com · dmarketforces.com
[○ 1 SOURCE] A breakout above $1.55 could lead to a rally toward $2. finbold.com
[○ 1 SOURCE] The neckline for the inverse head-and-shoulders pattern is near $1.55. finbold.com
[● 9 SOURCES] The U.S. Senate failed to advance the Digital Asset Market Clarity Act. cryptonewsland.com · timestabloid.com · www.cryptobreaking.com · dmarketforces.com · que.com · +4 more
[● 2 SOURCES] Ripple CEO Brad Garlinghouse stated that the failure of the CLARITY Act does not change the future of cryptocurrency. dmarketforces.com · coinpedia.org
[● 3 SOURCES] The SEC and CFTC are pursuing independent rulemaking to regulate digital assets following the legislative setback. cryptonewsland.com · que.com · www.spacemoney.com.br
[● 4 SOURCES] XRP reclaimed levels above $1.40 following the legislative setback. www.cryptobreaking.com · dmarketforces.com · coin-turk.com · u.today
[DISPUTED] US spot XRP ETFs have drawn in more than $1.7 billion in inflows. www.cryptobreaking.com · www.finanznachrichten.de
[● 5 SOURCES] The Clarity Act failed to advance in the Senate with a 49-50 vote. www.finanznachrichten.de · coinpedia.org · www.merca2.es · www.cryptobreaking.com · www.it-boltwise.de