XRP Price Could Double if CLARITY Act Passes in October, Says Analyst, as BMO Reveals ETF Holdings

Key Takeaways

• Ripple has expanded its institutional stablecoin strategy through Ripple Mint and a partnership with Notabene.

• CoinMarketCap warned that Ripple's infrastructure growth has yet to create proven, lasting demand for XRP.

• XRP would need to rise approximately 466% from $1.06 to reach $6.

XRP's price is trying to turn a brief break below $1 into a launchpad for a much larger recovery, with one technical analyst arguing that regulatory clarity could unlock up to 100% upside.

Gareth Soloway, chief market strategist at Verified Investing, told the Paul Barron Network that XRP's rapid recovery after piercing the $1 level may have flushed out leveraged traders and left a potential short-term bottom.

His bullish scenario depends heavily on Washington.

If Congress passes the CLARITY Act in September or early October, Soloway said XRP could rise by 50% to 100%. Meanwhile, even more bullish predictions are arriving from analysts.

The calls come as Bank of Montreal (BMO) disclosed positions in two XRP-linked exchange-traded funds in its latest Form 13F filing.

Why Gareth Soloway Thinks XRP Price Could Gain 100%

Soloway said that XRP's rapid recovery after piercing the $1 level may have flushed out leveraged traders, leaving a potential short-term bottom.