If the Clarity Act receives bipartisan support, XRP (Ripple) is expected to reach $1.35

▲ Ripple (XRP) ©CoinReaders

As the potential vote on the US cryptocurrency market structure bill, the Clarity Act, emerges as a short-term inflection point for XRP (Ripple), ChatGPT has proposed a target price of $1.18 for August 3rd.

According to the crypto media outlet Finbold on July 29 (local time), XRP traded at $1.08, up 3% on the day. With the US Senate unveiling an amendment to the Clarity Act, which integrates proposals from the Banking Committee and the Agriculture Committee into a single framework, market attention is focused on the possibility of a vote, rumored to be on August 3rd.

ChatGPT presented three scenarios for XRP's movement until the day of the vote. In the base scenario, if the vote proceeds as scheduled and expectations for regulatory improvements stimulate investor sentiment, the price is expected to reach $1.15-$1.25, with a 50% probability of realization. Among these, the most specific target price suggested was $1.18.

In the bullish scenario, if the Clarity Act receives strong bipartisan support, Bitcoin (BTC) maintains a stable trend, and investors' buying momentum strengthens, XRP is projected to rise to $1.28-$1.35. Conversely, if the vote is postponed or fails to gain sufficient support, and profit-taking pressure overrides expectations for regulatory improvements, it could fall to $1.02-$1.08. The probabilities for the bullish and bearish scenarios were each presented as 25%.

Recent XRP price forecasts are generally around $1.10-$1.11. The short-term resistance is $1.12, and if it breaks through this, $1.15-$1.20 could be the next upward target. In the long term, $3 this year has also been mentioned as a potential target price.

Technically, XRP is testing support near $1.09, where the 61.8% Fibonacci retracement level is located. If buying pressure holds this level and the Federal Reserve (Fed) delivers a largely neutral message on July 29, the recovery could continue to the $1.12 resistance level, with $1.15 then being the next target.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*