XRP (CRYPTO: XRP) is approaching a critical technical inflection point as Ripple executives continue to urge lawmakers for supporting the CLARITY Act ahead of a key Senate vote.
The Key Levels To Reclaim
In an X post on July 16, crypto analyst Cryptoinsightuk said XRP has managed a daily close above a key descending trendline. However, he cautioned that the move is not yet enough to confirm a trend reversal.
The analyst sees a move lower to sweep downside liquidity would be the preferred scenario before a stronger rally develops.
He identified $1.1175 as the level XRP must reclaim before a sustained bullish trend can be considered. Despite the breakout attempt, Cryptoinsightuk noted XRP is showing a daily bearish divergence and remains at a "decision level."
