XRP faced renewed selling pressure after the CLARITY Act failed to advance in the U.S. Senate, with analyst Celal Kucuker viewing the decline as a healthy correction toward the $1.50 area. Derivatives data shows traders unwinding positions while whale accumulation and XRP Ledger developments remain in focus as the token tests key support near $1.25.
XRP’s decline accelerated after the U.S. Senate failed to advance the CLARITY Act on September 15, with the procedural vote ending 49-50. The legislation was designed to establish a digital asset regulatory framework, and its setback added uncertainty to broader market weakness.
Celal Kucuker viewed the sell-off as a healthy correction within the broader market structure. He suggested XRP could retest its weekly moving averages near $1.50 if conditions stabilize.
XRP broke below its key exponential moving averages between $1.32 and $1.37, according to TradingView data. The token moved toward $1.27, with the lower Bollinger Band widening toward $1.25, establishing support at that level and resistance in the $1.32-$1.37 zone.
Derivatives data from CoinGlass shows trading volume rose 26.54% to $7.46 billion while open interest fell 10.16% to $2.85 billion. The combination suggests traders have been unwinding leveraged positions during the downtrend.
Santiment Intelligence pointed to 85 wallets with at least one million XRP that emerged before the token’s previous 67% breakout from August 17 through August 21. The data does not necessarily indicate another breakout will follow.
On the XRP Ledger, Ripple supported an institutional credit fund involving RLUSD, Clearpool, and Cicada Partners to finance working capital needs for fintech firms. RLUSD is listed on the XRP Ledger mainnet as traders monitor for stabilization near support.
