Crypto exchange Uphold has released its weekly report on XRP, outlining key regulatory and market developments concerning the digital asset. The update, posted on X, places significant emphasis on a recent legislative development in the United States that could have implications for XRP’s legal standing. According to Uphold, the U.S. House of Representatives has introduced the Digital Asset Market Structure and Investor Protection Act, referred to as the Digital Asset Market CLARITY Act. This bill is designed to provide a clearer division of regulatory authority between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The legislation aims to address ongoing uncertainties about how digital assets are classified and regulated at the federal level. The report noted that, if enacted, the bill could reinforce XRP’s classification as a commodity. This would align with the longstanding position held by Ripple, the technology company that uses XRP in some of its payment solutions. Ripple has consistently argued that XRP is not a security, a point that has been central to its ongoing legal disputes with the SEC. Uphold characterized this legislative effort as a potentially positive step toward affirming XRP’s regulatory status and providing a foundation for increased institutional confidence in the asset. XRP Shows Relative Strength in Downward Market Conditions Beyond regulatory issues, the weekly update addressed XRP’s recent market behavior in the context of a broader downturn across the crypto sector. While major digital assets such as Bitcoin and Ethereum experienced declines during the week, Uphold reported that XRP performed with greater resilience. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Bitcoin fell by 2.7% over the same period, while XRP remained relatively stable. Uphold attributed this performance to consistent demand and the asset’s ongoing utility, particularly in cross-border payment applications. This trend was noted by traders who continue to see strength in XRP’s market activity, even during periods of overall market weakness. Current Market Position Remains Strong In terms of price action, Uphold stated that XRP is currently trading around $2.19. The reported intraday price range has fluctuated between $2.16 and $2.28. Uphold says there is solid support for XRP in the $2.10 to $2.15 zone. The asset continues to maintain a strong market presence and remains comfortably within the top five cryptocurrencies by global market capitalization. The report from Uphold reflects both the regulatory momentum building in Washington and the continued relevance of XRP in digital asset markets. As legislative efforts develop and institutional participation evolves, market watchers are closely following assets like XRP that could be directly affected by new legal frameworks. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Top Exchange Shares Major XRP Report for the Week appeared first on Times Tabloid .
