XRP price has long been stuck in a lower price range, unable to break past the $1.5 barrier. The token has been plunging dramatically over the past few weeks, as Bitcoin continues to take massive pressure hits. In the middle of this, a new emerging development is giving hope to the XRP enthusiasts, promising a Ripple rally post February 10. What is this development, and how will it end up helping the XRP price overhaul? Let’s find out.
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A New Ray Of Hope For XRP Price
XRP price has long been suffering the pangs of the draining crypto market. With the fall of Bitcoin below $70K, major altcoins like XRP have also been suffering intensely, taking more pressure jabs than usual. However, the Senate has recently announced a new closed-door meeting, signaling a renewed momentum for the stalled Clarity Act Bill. This meetup is scheduled for February 10 and may focus on advancing the Clarity Act bill to the next stage of execution.
The head of the US Treasury. Scott Bessent recently emphasized the importance of this bill, outlining how its passing is essential for the US to become the crypto capital of the world.
“Scott Bessent just said the U.S. can’t move forward without market structure. And the Clarity Act needs to get across the finish line this spring. Not later. Not someday. Now. According to Bessent, both banks and crypto firms are aligned, and the only thing slowing this down is a small group that would rather have no rules than clear rules. His message was blunt. Under President Trump, the U.S. is positioning itself as the crypto capital of the world. But that only works if clear regulation gets done. 👀🔥”
How Will This Help Strengthen XRP Price?
The Clarity Act prioritizes a sound and unified regulatory system under which all cryptocurrencies must adhere to function independently. This unified regulatory system may end up delivering a structure to the market, the one it seems to be lacking at present, giving the domain a legitimate demeanor to work and adhere to.
This may prompt coins like XRP to rally, as the asset has been a prime victim of regulatory uncertainties and issues. The US SEC previously labeled XRP as a security, causing the asset to suffer for years. With the new system in check, this may help remove any residual signs of skepticism away from XRP, making it shine brighter than ever.
“REGULATORY BREAKTHROUGH AHEAD… A senior voice from Coinbase just confirmed that the CLARITY Act is expected to pass very soon. Clear rules change everything.“
Also Read: XRP Dips Below $1.40 Again: Will It Spiral To New Lows?
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