The XRP (CRYPTO:XRP) price trades at $1.41 after gaining 40% over the past week, ahead of Ethereum’s 28.1% and Bitcoin’s 23.6%. XRP had spent most of 2026 as the weakest of the four major cryptos, but it has turned things around this week.
What makes things even more interesting is that the Senate votes on September 15 on whether to advance the CLARITY Act. The bill would classify XRP as a commodity under federal law and settle its legal status for good. Can the XRP price reach a new record high before then?
What’s Driving XRP’s Rally This Week?
The whole crypto market turned on Wednesday, when the US Treasury said it would at least double its buybacks of long-term government bonds, from $2 billion to at least $4 billion per operation starting September 9. The 30-year Treasury yield had just hit 5.337%, its highest since 2007, and it fell back to 5.192% within hours. Lower long-term yields push money toward riskier assets, and roughly $1.4 billion of bets against crypto were closed out in four hours as prices climbed.
Trump then met crypto executives at the White House on August 19, among them Ripple CEO Brad Garlinghouse, and called on Congress to pass the CLARITY Act. Bitcoin and Ethereum surged afterwards and XRP also rode the waves.
Moreover, Goldman Sachs holds $86.5 million across five XRP exchange-traded funds, according to its second-quarter filing, with the two largest positions in Bitwise and Franklin Templeton. Three months ago the bank held nothing at all, having sold its entire $153.8 million XRP ETF position in the first quarter.
Ripple is also building an institutional lending platform on the XRP Ledger with Clearpool and Cicada Partners, aimed at fintechs that need working capital. However, the loans are denominated in RLUSD, Ripple’s dollar-pegged stablecoin, and XRP covers only the transaction fees. None of it is running yet either, since the two ledger features the product needs are still going through validator voting.
The XRP price rallied from $1.16 to $1.43 in a single session due to the macro events. The coin’s trading volume rose 116.85% to more than $10.2 billion, and open interest in XRP futures, meaning the total value of contracts still open, climbed 17% to $3.44 billion in 24 hours.
How Far XRP Is From Its All-Time High
XRP’s record high is $3.84, set on January 4, 2018. From $1.41, the XRP price would have to gain 172% to reach it, and the September 15 vote is 25 days away. XRP only touched $3.84 during that day’s trading, and its highest closing price was $3.22, two days earlier.
So, can XRP rally 172% in 25 days? To see XRP’s chances of hitting its ATH before mid September, we checked every 25-day stretch across its thirteen years of daily closes. XRP has managed a gain of that size on six separate occasions.
Two of them came in 2017, during the run from March to May and again from December into January. The others were December 2014, November 2020, April 2021, and then November into December 2024. The 2024 run is the closest comparison. Between November 7 and December 2 that year, XRP rose from $0.5542 to $2.7135, a gain of 390% in 25 days, on the back of the US presidential election.
The 2020 stretch barely qualified at 191%. The rest were far bigger, with the December 2017 run reaching 1,218% as XRP went from $0.2442 to $3.2201 in under four weeks. All six runs were in a full-blown bull market.
Can XRP Hit a New High by September 15?
We do not expect the XRP price to reach $3.84 in the next 25 days. A move that size has happened six times in thirteen years, and the most recent one arrived with a presidential election behind it, which moves a market far mroe than a bond buyback and a bank’s quarterly filing.
The September 15 vote is also not much of a catalyst yet, because the Senate is only voting on cloture—a procedural step that needs 60 senators to agree to open debate on the CLARITY Act. Republicans hold 53 seats, so seven Democrats have to cross, and three issues remain unresolved, including an ethics provision covering officials with large crypto holdings and a rule on whether stablecoin issuers can pay interest to holders, which community banks have fought because it would pull deposits away from them.
XRP also has key resistance levels to clear long before $3.84 comes into view. The XRP price faces resistance at $1.42, then $1.51, while support is at $1.26, and losing $1.22 could see it drop back all the way back toward $1.08. The RSI near 65 is approaching the 70 line where traders start calling a market overbought, so the bulls are close to losing strength.
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