XRP Price Outlook as SEC Chairman Paul Atkins Signals CLARITY Act Progress

XRP price moved higher Thursday as crypto sentiment encouraged traders to target a breakout above $1.40. The broad crypto market rose by 1.67% in 24 hours and its total capitalization is now at $2.63 trillion.

Bitcoin price regained $78,000, as ETF inflows resumed, and Ethereum recovered after support at $2,400. Market pressure was alleviated with liquidations declining by 69% forced selling was diminished in major assets. The Fear and Greed Index has risen to 72, which indicates that market participants have become optimistic again.

SEC Chair Paul Atkins Expects Senate to Advance CLARITY Act

SEC Chair Paul Atkins said he expects and hopes the Senate will advance the CLARITY Act. There will be a cloture vote on September 15 that it takes 60 senators to vote in favor of further debate. Approval would move the cryptocurrency market structure bill closer to President Donald Trump’s desk.

Atkins described the legislation as significant to the American cryptocurrency policy on Fox Business Wednesday. He claimed that more explicit regulations would stimulate a domestic operation of companies under the United States law. The action would support the goal of President Trump to transform America into a top digital asset hub.