XRP has slipped below 1.50 after briefly rising above 1.60, with analysts noting that the asset is now at a crucial turning point where upcoming legislation could shape its next move.
According to EGRAG CRYPTO, the proposed CLARITY Act is the main factor that could determine whether XRP pushes beyond the 1.65 to 1.70 resistance zone, referred to as Zone 1.
Ascending triangle signals potential breakout
In an analysis shared on March 18, EGRAG explained that XRP is forming an ascending triangle pattern just below the 1.65 to 1.70 range. This type of structure typically points to a possible upward breakout, as it reflects rising support levels and growing buyer interest.
At the same time, resistance has remained relatively flat, suggesting that liquidity is concentrated just above current prices. Based on this setup, the analyst estimates a 65 percent probability of a breakout above Zone 1, driven by tightening price action and structural strength.
However, there is still a 35 percent chance of rejection or a false breakout, particularly if progress on the CLARITY Act is delayed.
Growing activity from traders and large holders
XRP has gained about 6.5 percent over the past week, trading within a range between 1.37 and 1.60. This movement coincided with increased derivatives activity, as noted by Amr Taha. He reported that open interest rose by 16 million dollars on March 13 and another 18 million dollars on March 16, just before XRP moved above 1.50.
Large holders have also been accumulating. Analyst Ali Martinez observed that major wallets added 200 million XRP over the past two weeks, increasing their holdings from 10.88 billion to 11.08 billion tokens.
Despite this buildup, XRP faced rejection at 1.60 and was trading near 1.45 at the time of writing. Another analyst, Tara, identified this level as an important macro support based on the 0.618 Fibonacci retracement.
Breaking resistance is only the first step
EGRAG emphasized that moving above the 1.65 to 1.70 range would be a significant technical development, but it would not guarantee a larger rally on its own. Advancing toward the 2.60 level and beyond would require additional support factors.
These include stronger institutional inflows, products similar to exchange traded funds, stable Bitcoin price action, or a decline in Bitcoin dominance, along with consistent weekly closes above the 1.85 to 2.00 range.
Momentum around the CLARITY Act is building, with investor Paul Barron suggesting that negotiations could conclude as early as next week. Meanwhile, Donald Trump has accused banks of slowing the bill’s progress in order to protect their deposit base.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
