XRP is today up to around 1.14u. It’s a coin that had fallen for half a year, but in the past few days it suddenly came back to life again.

The daily chart has formed an ascending triangle. This pattern is often associated with a bullish continuation or a reversal, suggesting that buying pressure is gradually taking back the upper hand.

However, let’s pour some cold water on it: the long-term moving averages are still pressing down. The 200-day moving average is around 1.44u, and the price is still far from that level. In the bigger picture, the trend remains weak. This rebound can only be considered the strongest structure in the past few months, but it hasn’t reached the point of a genuine reversal yet.

On the regulatory side, there’s a new problem. The Clarity Act was about to be voted on in the Senate, but Elizabeth Warren got involved. She demanded that Trump publicly disclose all of his crypto income before the 23rd of this month (i.e., tomorrow); otherwise, the bill would be blocked. This directly affects the market’s expectations for regulatory progress related to XRP.

Technically, the market is watching the supply zone at 1.24u to 1.28u. It needs to stand above it cleanly and decisively to confirm a true strengthening move. Below 1.00u is the lifeline of this rebound.

As for ETFs: in June, inflows totaled $62.2 million, bringing cumulative net inflows to $1.48 billion. The money is still gradually flowing in, but on-chain activity on the network has been trending downward recently, which suggests that the fundamentals have not yet caught up with the price rebound rhythm #xrp $XRP