Cryptocurrency markets are facing uncertainty after the U.S. Senate Banking Committee decided to indefinitely postpone a vote on the Clarity Act, legislation that was expected to give digital assets such as Bitcoin, Ethereum and XRP a clear regulatory framework.
This sudden shift came after Coinbase withdrew its support for the draft law, with its CEO, Brian Armstrong, criticizing the new restrictions targeting stablecoins and granting broad powers to the Securities and Exchange Commission (SEC), considering them an attempt by traditional financial institutions to hinder innovation in the decentralized finance sector.
Despite this legislative stumbling block, major cryptocurrencies have shown remarkable resilience in their technical performance. Bitcoin's price has stabilized above $95,000, supported by massive institutional inflows exceeding $1 billion last week. Analysts believe that Bitcoin's stability above the current resistance zone between $95,000 and $96,000 will technically pave the way for it to target the $100,000 mark soon. Ethereum, meanwhile, continued its upward momentum, surpassing $3,300 thanks to intensive accumulation by whales and spot funds, which recorded net inflows of $479 million, reinforcing expectations that it will reach $3,500 in the near term.
Bitcoin has maintained the $95,000 level recently after a surge fueled by positive US inflation data and expectations of an interest rate cut in 2026. Meanwhile, Ethereum is trading at $3,321, up more than 7% last week, and Monero remains the best-performing cryptocurrency of the past week with a gain of more than 22.7%, securing its place among the top ten cryptocurrencies by market capitalization.
XRP coin...and the condition for Bitcoin to reach $100,000
Regarding XRP, it continues to trade within a narrow range around the $2.05 level, facing technical pressure as the Relative Strength Index (RSI) remains at neutral levels with a slight downward bias. The current price levels are crucial in determining the market's future direction, as follows:
The $2.00 level represents the first line of defense for XRP, as breaking it will lead to testing downward levels at $1.80, while an upward move requires a confirmed break of the $2.20 resistance to target new highs at $2.40.
Bitcoin breaking the $100,000 barrier depends on prices remaining above $94,500, with the continued strong institutional inflows seen in exchange-traded funds in mid-January.
Hopes remain pinned on the possibility of reaching a new political consensus on transparency legislation before the end of the year, as industry leaders see regulatory transparency as the ultimate key to fully legitimizing digital assets and attracting more global investment.
