XRP is trading at $1.53, up 15.7% over the past week, but remains below a key resistance level at $1.42. Crypto analyst Steph Is Crypto has set a $2.30 price target based on an inverse head and shoulders pattern, though a daily close above $1.42 is needed to confirm a breakout. Regulatory uncertainty persists as Senator Elizabeth Warren opposes the Clarity Act, while Binance holds 2.62 billion XRP, its highest balance in 69 days. Separately, FXRP, the programmable version of XRP on the Flare network, has 145.2 million tokens minted, with 130 million deployed in decentralized finance.
XRP is trading at $1.53, up 15.7% over the past week, according to data from CoinGecko, but remains below a resistance level that has yet to be cleared. Crypto analyst Steph Is Crypto has attached a $2.30 price target to this setup, citing an inverse head and shoulders pattern with a neckline between $1.48 and $1.55.
A daily close above that zone would confirm the breakout, he noted. On the downside, $1.37 is the level that needs to hold to avoid a retest of the $1.25 range.
Regulatory developments remain a wildcard for XRP. Senator Elizabeth Warren has been an outspoken opponent of the Clarity Act, arguing the bill leans too far in the crypto industry’s favor. “This bill should be dead on arrival,” she stated.
David Schwartz, Ripple CTO Emeritus, responded directly to Senator Josh Hawley’s no vote, suggesting the motive related to protecting bank profits. “Saying the quiet part out loud,” he said via his LinkedIn.
On exchange supply, Binance currently holds 2.62 billion XRP, its highest balance in 69 days. Steph flagged this as worth watching, noting a growing exchange balance can sometimes hint at future selling pressure.
The broader picture includes utility growth beyond the breakout debate. FXRP, the programmable version of XRP built on the Flare network, marked its first anniversary with 145.2 million tokens minted and roughly 130 million deployed in decentralized finance. Flare stated: “A year in, XRP is not just programmable on Flare. It is working capital.”
Holders are using FXRP in vaults, staking products, and to borrow Ripple’s RLUSD stablecoin on Ethereum without selling their underlying XRP, as reported.
