XRP Today News: A U.S. Senator has proposed a framework for a market structure bill, and XRP is expected to迎来监管Favourable Information创新高.

U.S. lawmakers are putting cryptocurrency regulation in the spotlight, bringing hope for clear rules for the industry and boosting market sentiment. As a primary beneficiary of regulatory clarity following the SEC vs. Ripple case, XRP has reacted positively to legislative progress in Congress. The market structure bill framework proposed by 12 Democratic senators aims to provide a clear roadmap for the cryptocurrency market, paving the way for bipartisan cooperation, which is crucial for the future price movement of XRP.

Market Structure Bill: Hope for Bipartisan Cooperation

The proposal from the Democratic Party: The market structure bill framework proposed by 12 Democratic senators (including Senator Kirsten Gillibrand) provides a roadmap for "robust and productive bipartisan negotiations" for Crypto Assets legislation.

Seven Pillars: The proposal of this framework acknowledges that the nearly $4 trillion encryption market needs to break free from regulatory dilemmas and puts forward seven core pillars:

1. Clarify the spot market for non-security digital assets: Grant exclusive jurisdiction over non-security tokens to the Commodity Futures Trading Commission (CFTC).
2. Clarify the legal status of digital assets: Provide a process for market participants to obtain a ruling on the regulatory status of digital assets.
3. Bring digital asset issuers under regulation: Provide the Securities and Exchange Commission (SEC) with tools to bring digital assets with securities characteristics under the framework of securities law.
4. Bring digital asset platforms under regulation: Require the SEC to establish encryption rules for brokers, custodians, and exchanges to ensure investor protection.
5. Prevent illegal financing: Require digital asset platforms to register with the Financial Crimes Enforcement Network (FinCEN) and adhere to BSA/CFT/AML policies.
6. Prevent corruption and abuse: Limit elected officials and their families from profiting through the issuance or recognition of digital assets during their term in office.
7. Ensure fair and effective regulation: Provide funding to the SEC, CFTC, and Treasury to enforce digital asset rules.

Bipartisan support: Republican Senator Cynthia Lummis and others praised the framework, calling it a "strong start," and look forward to working with Democrats to ensure the financial future of the United States.

Factors Driving XRP Price and Technical Analysis

(Source: TradingView)

Recent performance: On September 10, XRP rose by 1.13%, closing at 2.9811 dollars, and tested the psychological barrier of 3 dollars for the second consecutive time.

Technical Levels: Traders are closely watching the following key technical levels:

Support levels: $2.8, $2.7, and $2.5.

Resistance levels: $3.0, $3.335, and the historical high of $3.66.

Main catalysts: The following key factors may drive the price movement of XRP:

Spot ETF: Approval or delay of XRP spot ETF.

Institutions adopting: Blue-chip companies may use XRP as treasury reserve assets.

Regulatory Milestone: Ripple's application for a US chartered banking license, news on the Market Structure Bill, and developments with SWIFT.

Bullish and Bearish Scenario Analysis

Bullish scenario: If institutions like BlackRock apply for the iShares XRP Trust and receive SEC approval, blue-chip companies start adopting XRP, Ripple obtains a banking license, and SWIFT's share in the global remittance market is eaten away by Ripple, these could drive the price of XRP to break its historical high of $3.66.

Bearish scenario: If the market structure bill gets blocked in Congress, blue-chip companies remain cautious about XRP, the OCC denies Ripple's bank license application, and SWIFT maintains its dominance, all of these could drag the price of XRP below $2.8, with the next key support levels at $2.7 and $2.5.

Conclusion

The progress of the market structure bill in Congress and the development of the XRP spot ETF are key catalysts determining its future price movement. Bipartisan support has brought unprecedented hope to the industry. However, the price of XRP still heavily relies on the finalization of these political developments and corporate catalysts. For traders, ETF inflows could trigger a historic rebound, but regulatory setbacks could also lead it to fall below critical support levels.