XRP Mimics 2017 Setup as Analyst Eyes $18.23 Target Despite CLARITY Act Uncertainty

iconCoinpaper
Share
AI summary iconSummary
XRP is showing a 2017 breakout pattern, with analyst Dark Defender eyeing a $18.23 target. The EMA structure mirrors past surges, even as the CLARITY Act vote looms on Sept. 15. XRP remains a top pick among altcoins to watch, with crypto price action suggesting bullish momentum ahead of key regulatory developments.

XRP may already be setting up for its next major move regardless of whether Congress advances the CLARITY Act, according to crypto analyst Dark Defender.

In a Sept. 7 post, the analyst said XRP is mimicking the exponential moving-average structures seen in 2014 and 2017, periods that preceded major price expansions.

His message was explicit: XRP could be technically “ready” with or without the CLARITY Act.

That makes the timing especially interesting.

The Senate faces another important test for the legislation on Sept. 15, while XRP trades around $1.40 and remains well below its previous all-time high.

XRP’s 2017 Breakout Pattern Is Flashing Again

Dark Defender’s latest chart focuses on long-term exponential moving averages.

He argues that XRP is behaving similarly to the periods before its 2014 and 2017 rallies, describing the setup as an EMA “jumping pattern.”

The analyst has also highlighted XRP’s ability to hold its 100-month EMA, which he calls a “Parabolic Surge Line,” while the August candle closed above the 50-month EMA.

XRP’s current setup resembles earlier breakout structures.

The historical comparison is bullish, but it is not a guarantee that XRP will repeat the same move.

XRP still faces much closer technical resistance around $1.50-$1.55, while support sits near $1.35-$1.31.

Coinpaper recently tracked XRP’s 57% rebound, showing how quickly momentum returned after the token fell toward $0.90 in August.

CLARITY Act Still Matters Even If XRP Can Move Without It

Dark Defender’s point is not that the legislation is irrelevant.

It is that XRP’s price structure may not need Congress to provide the initial breakout catalyst.

The Sept. 15 CLARITY Act vote is still one of the biggest near-term regulatory events for the crypto market.

A successful vote would keep the market-structure legislation moving through the Senate.

Failure would create another delay.

That distinction matters because the vote is not final passage of the law. It is a procedural step determining whether the legislation can continue advancing.

XRP also enters the debate from a different position than many cryptocurrencies.

Ripple’s long-running SEC case has already produced more developed U.S. legal precedent around XRP, which is why Coinpaper recently argued that XRP already has an unusual degree of regulatory clarity.

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.