The United States House of Representatives Financial Services Commission will hold a live hearing around Clarity Act in New York on July 17th. While the market is concerned about the pace of the bill, it is watching whether the XRP will be able to lift itself out of its recent weakness with policy messages.

Hearing scheduled for 17 July

The theme of the hearing was “Building the financial future: how to unlock innovation”. The hearings themselves would not directly facilitate the entry into force of the bill, but would provide a forum for public discussion of industry claims and could continue to pressure undeclared senators.

As currently scheduled, the final voting time for CLARITY Act is expected to be between 27 July and 7 August. If the bill is to be passed, it will require 60 votes, which means that even if the Republican majority supports it, some Democrat parliamentarians may be required to vote in favour.

XRP hold $1.10

Market data show that XRP currently fluctuates around $1.11. The article mentions that, over a longer period of time, XRP is still in a downward trend and the reverse trend has not yet been confirmed.

At the solar-line level, however, some analysts noticed that XRP showed signs of an increase in deviation. This usually means that, although prices are low, the downswing of kinetic energy does not continue at the same time, and sales pressure may be decreasing. Based on this signal, it is more likely that there will be a cross-barring or a small rebound, rather than a quick downshow.

  • Key support position at $1.10 versus $1.06
  • Upside resistance ranges between US$ 1.13 and US$ 1.15
  • If we continue to weaken, the next target or view $ 0.92

Exchange reserves continue to fall.

The chain and platform data also show that the XRP reserves of some exchanges are still declining. According to the data quoted in the paper, the XRP reserve of the platform has been reduced to approximately 2.61 billion, continuing the downward trend that began last year.

At the same time, Coinbase ' s XRP size reached its deepest level since 2026, while Bybit ' s increase earlier this year has largely returned to normal. Normally, currency outflows from the exchange mean a reduction in the supply that can be sold at any time, but this change has not, for the time being, significantly pushed up the prices of the XRP.