Analysts tied XRP’s bullish Chasm pattern to momentum behind the CLARITY Act after a 15-9 Senate Banking Committee vote, keeping focus on higher targets and a possible break above key resistance.

Analyst EGRAG CRYPTO says Bitcoin’s current cycle may be judged by three levels: a sustained close above $74,000, support near $60,000, and a decisive move above the 100-day EMA around $87,000.

XRP is trading near $1.1218 as its monthly RSI reenters a rare deeply oversold zone seen only four times in 13 years. Analysts are also watching the loss of the 200-week average and several major support levels.

XRP saw a one-day payment surge above 2 billion tokens in late January, followed by a roughly 95% collapse in network activity. The move is being read less as adoption and more as redistribution and selling by large holders.

EGRAG CRYPTO says XRP’s long-term bullish cycle remains valid if it holds the $0.85 to $1.20 accumulation zone, with $1.65 as the first reclaim level and $3.00 to $3.50 as the next major resistance.

Analysts say XRP needs to reclaim $1.22 and then break $1.60 before a stronger recovery case can be made. Moving-average compression and a hidden bullish RSI divergence are being watched as early stabilization signals.

XRP traded near $1.11 on June 10, losing 4% in 24 hours and over 10% weekly. RSI at 29 signals oversold conditions, but on-chain data shows realized losses dominate and network fees plunged 91%. Binance reserves hit a four-month low, yet a durable bottom remains unconfirmed.

EGRAG CRYPTO argues that XRP’s recent breakdown may reflect accumulation rather than weakness, citing inverted chart patterns and historical setups that preceded major rallies.