XRP Price Drop: Whales Accumulate as CLARITY Act Vote Looms

XRP's recent price drop has been significant, with the cryptocurrency falling to its lowest point in 15 weeks at $1.09. This decline follows the loss of key support levels, including $1.20 and $1.11, which were previously defended by buyers. However, despite this bearish trend, XRP whales have continued to accumulate tokens.

The concentration of large holders has increased, with wallets holding 10 million or more XRP now controlling 68.5% of the circulating supply. This level of control is reminiscent of previous periods when XRP's price surged, including a rally from $0.50 to over $3 in late 2024.

The CLARITY Act vote could be the catalyst that determines whether XRP's price will hold above $1 or drop further. If the bill passes and the macroeconomic environment stabilizes, analysts forecast that XRP could reach $2.80 or even $8. However, if the bill stalls or is delayed beyond 2026, prices may drop closer to $0.53.