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Expert Flashes 2 Bullish Signs For XRP As CLARITY Act Eyes July 20

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Ripple’s XRP may be preparing for a bounce with a strong crypto analyst signaling two signs of a bullish shift. This optimism comes as lawmakers in Washington push to get the CLARITY Act off the ground before Congress heads into its August recess.

XRP Chart Shows Bullish Signs

Crypto analyst Ali Martinez shared a post on X that suggests that XRP’s daily chart is showing ā€œtwo bullish signalsā€ that could signal that the rally is coming to an end. The first signal, according to Martinez, is the Tom DeMark Sequential indicator. It has ā€œprinted a buy signal via a ā€˜9’ candlestick.ā€ The pattern ā€œhistorically anticipates a one-to-four daily candlestick relief rebound,ā€ he added.

The XRP price action of the past three trading sessions has also formed a ā€œMorning Star Dojiā€ candlestick pattern. For context, it is a pattern widely recognized by technical traders as a reversal chart pattern that can appear closer to the bottom of the market, Martinez said.

The confirmation would rely on the participation of buyers, he wrote. The analyst added, ā€œIf buying volume accelerates here, $XRP could rise toward $1.30.ā€

The Crypto Market Structure Bill Now Faces July 20 Deadline

The positive technical analysis for XRP comes as the digital asset sector remains hinged on the updates around CLARITY Act. There are ongoing negotiations even as Congress adjourns Washington for the July 4 recess, said journalist Eleanor Terrett. She added there is ā€œa renewed sense of urgency among Senate Republicans to get this bill across the finish line.ā€

However, ā€œthere is quite a lot left to doā€ on the CLARITY Act, Terrett emphasized. She noted that unresolved provisions include ethics and differences between the drafts from the Senate Banking and Agriculture Committees. In addition, sticking points include state preemption rules, language on conflicts of interest in the exchanges and others.

She also noted that ā€œkey Democratic votes are expected to hinge on whether the bill includes an ethics framework that they view as strong enough to address President Trump’s crypto businesses.ā€ Hence, the odds for the crypto bill passing has dropped to 50%per Galaxy Digital.

The challenge of Senate floor vote scheduling still exists for the CLARITY Act. Senate Majority Leader John Thune has acknowledged ā€œtime is running out to solve some of these outstanding issues.ā€ Also, the annual defense authorization bill is expected to take priority upon the return of lawmakers July 13, Terrett said.

Assuming there is enough progress in the negotiations during the congressional recess and any other legislative priorities that could delay consideration don’t come into play. That’s the earliest realistic time to get a vote on the CLARITY Act underway, Terrett said, ā€œthe week of July 20th onwards.ā€

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