XRP Price: Token Climbs 13% in July as CLARITY Act Progress and ETF Inflows Fuel Rally

TLDR

• XRP surged over 13% in the first three days of July, rising from around $1.03 to near $1.18.
• The CLARITY Act’s progress in the U.S. Senate boosted sentiment around XRP’s regulatory outlook.
• XRP funds saw $6.55M in daily inflows, with cumulative inflows hitting $1.49B.
• July has historically been strong for XRP, with an average return of 10.4% since 2013.
• Key resistance sits at $1.20, with support at $1.15 limiting downside.

XRP kicked off July with a strong rally, climbing over 13% in just three days. The token moved from a low of around $1.03 to near $1.18, drawing renewed attention from traders and investors.

The move came alongside a broader crypto market recovery. The total crypto market cap rose 0.86% to $2.18 trillion. Bitcoin pushed past $62,000, while Ethereum climbed above $1,700.

Weaker U.S. jobs data played a role in the market’s upward move. The economy added just 57,000 jobs in June, well below the forecast of 110,000. This raised hopes of easier monetary policy ahead.

Analyst ChartNerd (@ChartNerdTA) pointed to a long-term technical setup on X, describing an 8.5-year cup and handle pattern forming on XRP’s chart. He warned that ignoring XRP near $1 “could prove costly,” noting that if Fibonacci support holds within the handle structure, it could open the path toward resistance. He cited Fibonacci extensions pointing to price targets of $8, $13, and $27.

CLARITY Act Lifts XRP Outlook

Progress on the CLARITY Act in the U.S. Senate was a key driver of XRP’s gains. The legislation could affect how digital assets are classified under U.S. law.

Traders responded positively to XRP being referenced in the SEC/CFTC Digital Commodities category. Some rotated capital into XRP as a result. Ripple co-founder Chris Larsen’s investment in American Perpetuals Exchange Corporation — a firm connected to Senator Kirsten Gillibrand’s son — also drew attention during the period.

ETF Inflows Add to Positive Mood

XRP funds recorded $6.55M in daily inflows as of July 2. Cumulative inflows reached $1.49B, with net assets at $987.91M.

Spot Bitcoin ETFs also returned to inflows on July 2, recording $221.72M in daily net inflows. That ended a 10-day outflow streak, lifting cumulative net inflows to $51.08B. Ether spot ETFs added $29.08M in net inflows on the same day.

Historic data from CryptoRank shows July has been a profitable month for XRP in seven of the past seven years. Average July returns since 2013 stand at 10.4%. In 2020, XRP gained over 48% in July alone.

On the four-hour chart, XRP traded near $1.1714. The RSI stood at 79.91, placing the token in overbought territory. The Chaikin Money Flow read 0.21, indicating buying pressure.

Resistance sits at $1.20, with a breakout potentially opening the path to $1.25. If price drops below $1.15, the next support level is $1.10.

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