Political progress in the U.S. this week has removed the main limiting factor for XRP as the U.S. Senate Banking Committee approved the Digital Asset Market Clarity Act (CLARITY Act). With only final approval of the bill by the full Senate left, it will not only define the status of the token itself, but also legalize the RLUSD stablecoin.

The new law will clearly separate the rules for issuing dollar-backed tokens. Yes, passive yield on them will most likely be prohibited, but transactional incentives will remain legal. This creates a legal foundation for Ripple to massively expand RLUSD adoption in cross-border payments, where XRP has traditionally served as a bridge asset.

Previously, the use of RLUSD by major banks was blocked due to high regulatory risks. Against this backdrop, investor optimism is already being fueled by Ripple's pilot project for settlements using tokenized U.S. Treasury bonds, which is being implemented on the XRPL network in partnership with JPMorgan and Mastercard.

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These fundamental developments are also leading to a resolution on the price chart of XRP.

XRP eyes the $2 highway

The current consolidation has compressed XRP's price to the limit as the token is now pressing directly against the psychological resistance at $1.5, leaving behind a multi-month defense phase. Technically, the asset is now just a couple of percent away from the key trigger - a breakout above the middle Bollinger Band line on the weekly timeframe.

A confirmed close above this level would eliminate the prolonged sideways structure and open a direct path toward the indicator's upper boundary at $2.03. Current volatility has been squeezed into extremely narrow ranges, which historically precedes strong one-directional moves.

XRP weekly price chart with Bollinger Bands attached, Source: TradingView

Buyers have already tested sellers' strength this week as a local spike pushed XRP to a high of $1.54, producing a physical breakout above the middle band. However, the market failed to close the week at those levels, and the price corrected back into the $1.45 range.

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If the breakout above $1.50 is confirmed, XRP will enter the upper Bollinger Bands range, where the primary target becomes the $2.03 upper band. The key defensive zone for buyers will remain the lower boundary of the corridor at $1.03.

The coming days will determine whether the impulse collapses at the $1.5 level, sending the asset back into an exhausting sideways range, or whether the market confirms the official start of a rally with a move toward $2 and a full return to the global bullish trend.

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