XRP Price Bounces Ahead of July 20 Deadline for Crypto Regulation Bill

XRP may be gearing up for a price rebound according to crypto analyst Ali Martinez.

Martinez pointed out two bullish signals on XRP's daily chart: a '9' candlestick on the Tom DeMark Sequential indicator, which historically anticipates a one-to-four daily candlestick relief rebound, and a 'Morning Star Doji' pattern that is widely recognized by technical traders as a reversal chart pattern.

The analyst emphasized that the confirmation of these signals relies on increased buying volume, and if this occurs, XRP could rise towards $1.30.

In related news, the CLARITY Act, which aims to clarify regulatory standards for digital assets, faces a July 20 deadline after lawmakers in Washington renewed their push to get the bill passed before Congress heads into its August recess.