XRP Price Prediction Ahead of August 14 SEC New Crypto Offering Framework

The action arrives after senators left for their August recess without advancing the CLARITY Act.

Its delay could prompt the SEC and CFTC to develop regulations while congressional negotiations continue.

XRP Price Outlook For This Week

The XRP price traded at $1.0062 after declining 0.84% during the latest four-hour session. The overall weakness in the short-term structure was reinforced as the token dropped to below $1.02.

The future XRP outlook now approaches the psychological $1.00 support as selling pressure remains elevated. A verified break might reveal the $0.98 prior to a road leading to $0.95.

The Relative Strength Index dropped to 30.77, and XRP is close to the oversold region. 

Nevertheless, the MACD line was lower than its signal line, which indicated the bearish perspective. The negative histogram of it also indicated that negative momentum was continuing to go up.

Any recovery that is higher than 1.02 may switch focus to the more powerful $1.05 resistance. XRP price must reclaim $1.05 before targeting the $1.08 and $1.10 levels.

XRP Open Interest Climbs to $2.71B as Derivatives Demand Grows

The activity in the XRP derivatives boosted with the trading volume increasing by 37% to reach a high of $1.80 billion over the period under consideration. 

Open interest also increased by 8.74% to 2.71 billion demonstrating increased capital in contracts outstanding. The concurrent increase implies that traders increased their XRP exposure, but kept active positions in the derivatives market. 

Options activity recorded the largest percentage increase, with trading volume surging 68.97% to $1.25 million. Options volume, however, was still much lower than activity on futures and perpetual contracts. Modest growth in longer-term positions brought an increase in options open interest to $59.19 million, up 1.37%.