Treasury Secretary Scott Bessent reinforced his support for the, saying it’s essential to ensuring America wins the global technology race. He said the final draft gives the Treasury Secretary added authority to act if stablecoins begin causing deposit flight harmful to community banks.
“If stablecoins cause harm to community banks, I will not hesitate to use these tools to ensure they remain fully protected,” Bessent said.
Not everyone is satisfied:
- Eight banking groups have escalated opposition to the bill’s stablecoin provisions
- They argue the new deposit-flight safeguard doesn’t go far enough
- They’re pushing for broader limits on interest-like stablecoin rewards
White House crypto adviser Patrick Witt pushed back, noting stablecoin rewards have existed for years without hurting bank deposit growth, warning: “If Clarity fails, banks get none of these protections.”
What the Charts Are Saying
Analyst Casi Trades says the timing lines up with an interesting technical setup. $XRP has spent several weeks consolidating below major resistance while holding a 0.5 retracement level, keeping what she calls a valid “Wave 4” structure intact, with a new local high still very much possible.
She points out that a 0.5 retracement is a completely normal part of that pattern, so another push toward resistance, as high as $1.74 to $1.78, wouldn’t be surprising. If $XRP reaches that zone, she expects heavy resistance to show up there.
If $XRP pumps on the CLARITY Act news and then gets rejected near resistance, that wouldn’t necessarily mean the broader trend has failed. It’s the kind of reaction the current chart structure would actually predict.
Level That Actually Matters
The real structural signal Casi Trades is watching for is a break above $1.65 that holds as support. Without that confirmation, she says lower Fibonacci support levels near $1.09 and $0.87 remain in play as downside targets.
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