XRP recorded its lowest weekly close in nearly two years, breaking a key support level at $1.04, with analysts now eyeing $0.75 as the next significant support. This technical breakdown is exacerbated by the delay of the Clarity Act, which was a narrative catalyst for XRP, though some analysts present a bullish case based on buy signals and whale accumulation.
XRP experienced a significant technical breakdown, closing below its $1.04 support level for the first time since November 2024, leading to predictions of a further drop to $0.75. This negative price action is compounded by the delay of the Clarity Act's Senate vote, removing a key regulatory catalyst that was expected to provide clarity for cryptocurrencies. While some analysts point to bullish indicators like a monthly buy signal and whale accumulation, the immediate outlook appears bearish due to the broken support and regulatory uncertainty. Traders should monitor the $1.04 and $1.00 levels closely, as a failure to reclaim these could confirm a downward trend, while a strong bounce could signal a reversal.