XRP is getting attention again after a major regulatory update out of Washington. The CLARITY Act officially cleared the U.S. Senate Banking Committee, pushing the bill one step further through the federal process and giving crypto traders another reason to pay attention to Ripple.

But even with the positive news, the XRP price still has a technical problem hanging over the market. The daily chart continues to show the effects of a bearish pennant breakdown that happened earlier this year, and traders are still waiting for proof that buyers can fully take back control.

The CLARITY Act is moving forward

The latest excitement around the XRP price started after updates tied to the CLARITY Act began spreading across crypto markets. This particular bill has already gone past the Senate Banking Committee stage.

It doesn't imply that the legislation will soon become law. The bill may still require further work within other Senate committees before being presented to the full Senate chamber for consideration. Further, a vote at the full Senate stage would be required after that.

In the event where both the House and Senate bills are not entirely alike, both chambers would still have to find some compromise regarding the bill before submitting it for presidential signature. However, the market players consider this a very significant move given the fact that regulatory uncertainty has been plaguing Ripple and XRP for many years now. 

Clearer crypto rules could eventually help institutions feel more comfortable entering the market again. For now though, traders are treating the news carefully because the process still has several stages left before anything becomes official.

The XRP price still looks stuck in consolidation

The chart remains the biggest thing traders are watching. We had a look at the XRP daily chart shared by Crypto With Gopal, and the structure still leans slightly bearish after the pennant breakdown that developed between February and April 2026.

The setup started after XRP collapsed from above $2.50 earlier in the year down toward the $1.10-$1.20 region. After that major drop, the market moved sideways inside a tightening pennant pattern before eventually breaking lower.

Following that, the XRP price has been primarily consolidating within an extensive sideways range of $1.35 to $1.60. The bears haven’t been able to push the price into a further decline, but at the same time, the bulls haven’t succeeded in breaking above a crucial resistance level either.

This resistance level in the range of $1.55 to $1.60 is currently considered one of the most critical areas on the chart. A break above this level would completely shift the short-term momentum for the XRP price.

Can XRP finally start recovering again?

Right now, the XRP price is caught between improving regulatory optimism and a chart structure that still needs a proper breakout. 

Despite the bill that is currently under consideration being very significant to Ripple advocates and also traders who would love to see some level of crypto regulation being introduced to the US financial markets, It is equally vital to observe the price behavior of XRP to determine its potential future movements. 

In case of buyers taking control over the key resistance level with high volumes, it means that it will be easy to break through the $1.55-$1.60 level towards $1.80-$2.00 soon enough. Coin Codex's 3-month XRP price prediction places the price at $1.70 which is above the current price level.