XRP climbed 6.94% to $1.386, recovering from lows near $1.27 after the CLARITY Act failure and the Federal Reserve's first rate hike since 2023. According to reports from CryptoQuant, the rebound followed a rocky 48 hours that combined a failed Senate vote with the Fed's monetary policy decision. The recovery demonstrates the cryptocurrency market's resilience despite regulatory uncertainty and tightening monetary conditions, with XRP's market value reaching $83 billion and putting it back near the top of its September range. Latest market data shows XRP among the top altcoin gainers, with the move amplified by derivatives positioning and short liquidations that turned a normal altcoin bounce into a sharper percentage-point move.
The CLARITY Act fell short in a narrow 50-49 tally on September 15, missing the required 60 senators needed for cloture and stalling a proposed federal framework for digital assets. As reported by CryptoQuant, XRP dropped more than 8% in the immediate aftermath, touching lows near $1.27 to $1.28. The regulatory setback initially weighed heavily on the cryptocurrency market before the broader recovery took hold, with XRP taking the hardest hit of any major token from the Senate's failure to advance the bill. However, news coverage framed the latest leg as a "resilience" move - despite the bill failing, the market absorbed the regulatory setback and pushed higher, with altcoins such as XRP, NEAR and others picking up strong percentage gains in the same session. The negative Shiba Inu netflow balance of -202,237,600,000 $SHIB as of September 17 provides further bullish outlook for the leading meme token, as it typically indicates that buyers are dominating the market.
The Federal Reserve raised its benchmark rate by 25 basis points to a range of 3.75% to 4.00%, a move that typically weighs on risk assets broadly. According to CryptoQuant reports, pressure intensified the next day when the Fed implemented this rate hike, adding to the initial regulatory concerns. However, the sell-off proved short-lived as XRP has since rebounded to $1.386, with the move carrying more weight because it represents the first meaningful repair of damage from the CLARITY Act failure. The broader cryptocurrency market moved in tandem with Bitcoin gaining 5.42% to trade near $80,752 and Ethereum rising 5.61% to roughly $2,595, with altcoins leading in Asian hours as HYPE jumped more than 11%, ZEC gained 8% and SOL rose 6%. Market experts have stated that the Clarity Act failure is not a limitation for the broad crypto market and that major crypto assets could thrive whether or not the bill is passed.
Trading volume held near $3.9 billion, close to its 30-day average, suggesting genuine buying rather than thin, low-liquidity trading. As reported by CryptoQuant, whale deposits to Binance reached six-month highs while futures open interest climbed back above levels seen before the failed vote. The broader crypto market rebounded after the Fed's first rate hike since 2023, with majors like BTC and ETH stabilizing while altcoins including XRP posted double-digit intraday gains. Social feeds tracking daily leaders show XRP up roughly 11-14% intraday on September 17, ranked among the strongest gainers of the day within large-cap and mid-cap alts. The recovery was broad-based rather than XRP-specific, with altcoins leading as market participants leaned back into existing narratives centered on XRP's strong perp DEX revenue potential, burns, and governance positioning.
A viral XRP price prediction faces mounting pressure after the Senate rejected the CLARITY Act, with 43 days remaining until the October 31 deadline. CryptoBull, a popular analyst on X, previously predicted that XRP could reach $27 by the end of October, requiring approximately 1,945% growth from current levels. This would translate to 63% compounded weekly growth or more than 7% daily for the remainder of the forecast period. Based on CoinMarketCap's reported circulating supply of around 62.88 billion tokens, a $27 price would produce a market cap of nearly $1.7 trillion, potentially making XRP larger than Bitcoin's current $1.56 trillion market capitalization. However, even the lower $7 target now requires a roughly 430% gain from current levels, making the timeline particularly challenging given the regulatory setback.
