XRP steadies near $1.08 as technical patterns, CLARITY hearing and 8 M ledger accounts draw focus

The XRP token is trading around $1.08‑$1.10, hovering near key support at $1.05 and facing resistance around $1.12‑$1.15. Technical analysis points to a narrowing descending wedge on the daily chart, a formation that often precedes a breakout, while the Relative Strength Index sits near 44, indicating neutral‑to‑bearish momentum. Open interest has fallen, and bearish indicators such as a bear‑flag pattern suggest sellers remain in control, though the price has held above the $1.00 level.

In Washington, a Senate hearing on the CLARITY Act is scheduled for July 17, and traders view the outcome as a potential catalyst for XRP. The token’s price has been relatively stable ahead of the hearing, but a clear regulatory win could provide the momentum needed for a breakout.

Meanwhile, the XRP Ledger Foundation announced that the network surpassed eight million activated accounts, highlighting expanding use in tokenized assets, stablecoins and AI‑driven transactions. Despite this adoption milestone, the broader crypto market’s risk‑off sentiment and modest ETF inflows have limited price gains.