There is a chance XRP could be pushed below the $1 mark, says the host of CryptoFateev Ripple XRP Trader, as the Clarity Act doesn’t seem to be up to the task of fixing what ails the crypto market. The trader sees the law’s shortcomings as a potential catalyst for more downward pressure on the token.
Clarity Act’s Limited Effect on Crypto Market
For all the talk about the Clarity Act, it is not going to solve the major problems in the industry, the host argues. With the kind of regulatory and market instability we are seeing, new rules are not enough to put investors at ease or to insulate holdings like XRP from volatility.
It is too early to be optimistic, he adds. The Act leaves some of the more intractable issues unaddressed—such as market manipulation, uneven enforcement, and the patchwork of regulations across the world. Until those are dealt with, the market remains as open to wild price swings as ever.
XRP Price Outlook: Risks Loom as Market Awaits Clarity
If things don’t change, the trader has said XRP could fall below $1. There is some expectation that regulation will put a floor under prices, but without any real solutions, those holding XRP are still exposed to risk. Add in the mood of the market and the fact that there are no clear rules in place, and the case for another leg down is strong.
For now, the CryptoFateev Ripple XRP Trader has some advice: it’s best to stay on guard. The Clarity Act has yet to show any concrete results, so if the rest of the crypto space turns sour, expect to see more selling pressure on XRP.
Source — CryptoFateev Ripple XRP Трейдер: https://www.youtube.com/watch?v=bG8fs7RcZZA
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