XRP News Today: XRP Under Pressure as Crypto Legislation Stalls

XRP falls again as traders react to the US Senate Agriculture Committee postponing its markup vote on the draft text for the Market Structure Bill.

Crypto-related legislative developments on Capitol Hill continued to weigh on buying interest for XRP on Friday, January 23. The Agriculture Committee’s postponement followed the US Senate Banking Committee’s delay of its markup vote.

Despite delays to much-needed crypto legislation, the medium-term outlook for XRP remains bullish. XRP-spot ETF net inflows since launch, expectations that the Senate will eventually pass the Market Structure Bill, and increased XRP utility are key tailwinds.

Below, I will explore the key drivers behind recent price trends, the medium-term (4-8 weeks) outlook, and the key technical levels traders should watch.

US Senate Agriculture Committee Postpones Markup Vote

On January 21, the Agriculture Committee released its draft text of the Market Structure Bill, setting the stage for a markup vote on January 27. However, the Committee has since delayed its markup vote on January 23, dampening hopes for crypto legislation to be in place within Q1.

Crypto in America host Eleanor Terrett reported the delay, stating:

“The Senate has canceled Monday votes ahead of snowmageddon. Members will now trickle in ahead of Tuesday’s late afternoon votes, leaving the fate of the Senate Agriculture Committee’s market structure markup unclear.”

Regarding the potential timing of a markup vote, Terrett added:

“I asked a committee spokesperson whether the markup was still on and was told there’s nothing to announce yet. In the meantime, new amendments have been filed to the text released Wednesday.”

XRP dropped to a January 23 session low of $1.8863 before reclaiming the $1.9 handle.

The token remains exposed to crypto-related regulatory developments, with the latest postponements sending XRP from January’s high of $2.4151 to sub-$1.9 levels. XRP had rallied from $1.8103 on December 31 to the January 6 high of $2.4151 after the Banking Committee announced its markup vote. Notably, XRP soared 14.69% on July 17 after the US House of Representatives passed the Market Structure Bill to the Senate.

Analysts see the passing of the Market Structure Bill as a pivotal step toward increased XRP utility.

XRP Price Forecast: Short-, Medium-, and Long-Term Targets

Net inflows into XRP-spot ETFs since launch and Ripple’s advancements on Main Street affirm a positive short-term outlook (1-4 weeks), with a target price of $2.5. Meanwhile, expectations that the Senate will pass the Market Structure Bill continue to support XRP at current price levels. These factors affirm the bullish longer-term price projections:

• Medium-term (4-8 weeks): $3.0.
• Longer-term (8-12 weeks): $3.66.

Key Downside Risks to the Bullish XRP Outlook

Several factors could derail the constructive bias. These include:

• The Bank of Japan signals multiple rate hikes to reach a hawkish neutral interest rate (potentially 1.5%-2.5%). A higher neutral rate would narrow US-Japan rate differentials. A narrower rate differential could trigger a yen carry trade unwind, mirroring events in mid-2024. A yen carry trade unwind would invalidate the short-term outlook.
• Fading bets on an H1 2026 Fed rate cut.
• Further delays and opposition to the Market Structure Bill.
• XRP-spot ETFs report outflows.

These events would weigh on risk assets, pushing XRP below $1.85 and indicating a bearish trend reversal.

Technical Analysis: Levels to Watch

XRP slipped 0.19% on Friday, January 23, following the previous day’s 1.24%, closing at $1.9184. The token bucked the broader crypto market cap trend, which gained 0.05%.

The extended losses left XRP trading below its 50-day and 200-day EMAs, indicating a bearish bias. However, the bullish fundamentals continue to counter bearish technicals, reinforcing the positive outlook.

Key technical levels to watch include:

• Support levels: $1.85, $1.75, and then $1.50.
• 50-day EMA resistance: $2.0424.
• 200-day EMA resistance: $2.2957.
• Resistance levels: $2.0, $2.5, $3.0, and $3.66.

On the daily chart, a move through $2.0 would bring the 50-day EMA into play. Crucially, a breakout above the 50-day EMA would signal a near-term bullish trend reversal. A bullish trend reversal would support a move toward $2.2. A break above $2.2 would pave the way toward the 200-day EMA.

A sustained move through the EMAs would reaffirm the bullish medium- and longer-term price targets.

Fundamental Events Driving Near-Term Price Action

Near-term price drivers include:

• XRP-spot ETF flow trends.
• US economic indicators and the Fed’s monetary policy outlook.
• US crypto-related legislative developments.
• The Bank of Japan’s monetary policy stance.

$2 Remains Pivotal for XRP’s Bullish Structure

Avoiding a drop below $1.85 and breaking above $2 are crucial for the short- to medium-term outlook. The bullish fundamentals, as detailed above, continue to offset bearish technicals, suggesting a near-term recovery. XRP’s rebound from December’s sub-$1.8 levels and January gains of 4.47% reinforced the bullish structure and short- to medium-term price targets.

A breakout above $2.0 would open the door to testing the upper trendline. A sustained move through the upper trendline would reaffirm the bullish trend reversal and validate the bullish structure, supporting the price targets:

• Medium-term (4-8 weeks): $3.0.
• Longer-term (8–12 weeks): target of $3.66.

However, a sustained break below the lower trendline to sub-$1.85 levels would invalidate the bullish structure, signaling a bearish trend reversal.

XRP Outlook Hinges on Crypto Regulations, ETFs, and Central Banks

Looking ahead, crypto-related legislative developments on Capitol Hill will be key for XRP’s near-term price trajectory. Bipartisan support for stablecoin yields would raise expectations that the Senate would pass the Market Structure Bill, boosting demand for XRP.

Meanwhile, US economic indicators, the Fed’s interest rate decision, and XRP-spot ETF flow trends will also dictate the near-term price outlook.

Increased expectations of an H1 2026 Fed rate cut, and a dovish BoJ neutral rate (potentially 1%-1.25%) would drive demand for XRP. Robust US XRP-spot ETF market inflows, the progress of the Market Structure Bill, and increased XRP utility would reaffirm the constructive bias.

In summary, these events signal a medium-term (4–8 weeks) move to $3.0. Furthermore, the US Senate’s passing the Market Structure Bill would reinforce the longer-term (8–12 weeks) price target of $3.66.

Beyond 12 weeks, positive fundamentals are likely to send XRP to its all-time high of $3.66 (Binance). A breakout above $3.66 would support a 6- to 12-month price target of $5.