Three market catalysts to watch this week
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The price of XRP is being influenced by two major events: the US-Iran ceasefire and the SEC's CLARITY Act roundtable. The ceasefire is set to expire on April 22, while the SEC's roundtable may lead to a markup of the CLARITY Act, which could make XRP's commodity status permanent.
The XRP price rallied above $1.35 after the US-Iran ceasefire was announced, but dropped back to $1.33 after the Islamabad peace talks broke down. The SEC is hosting a roundtable on April 16 to discuss digital asset market structure, which may lead to a markup of the CLARITY Act. The CLARITY Act could make XRP's commodity status permanent, allowing banks to use XRP in Ripple's cross-border payment network. The ceasefire between the US and Iran is set to expire on April 22, with no follow-up talks scheduled. The XRP price is currently stuck between these two events, which will decide its direction for the rest of the year. The price of XRP is trading near $1.33, with a potential bullish case of $1.60-$2.00+ if the CLARITY Act markup passes.
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