The debate over DeFi and stablecoin reward provisions in the CLARITY Act is at 
risk of holding the bill back as banking and crypto stakeholders push 
competing agendas.

Senator Lummis says delay likely for market structure bill: Bloomberg

XRP is tightening up at a critical breakout level, with price action 
suggesting the market is coiling for its next decisive move. While short-term 
volatility has cooled, the broader structure remains constructive, pointing to 
a potential expansion phase as compression builds near key resistance. XRP 
Compresses Into A Critical $2.30–$2.40 Decision Zone According to a latest 
update from Egrag Crypto, the XRP 3-day chart continues to flash strong 
bullish signals despite recent consolidation. Price action remains 
constructive, with XRP compressing inside a descending channel as it 
approaches a crucial decision zone between $2.30 and $2.40. Related Reading: 
XRP Price Finds Its Footing at Support, Bulls Test Their Strength From a 
structural standpoint, several technical elements point to underlying 
strength. The 50-period EMA has begun to flatten, suggesting that selling 
pressure is gradually easing. At the same time, the 200-period EMA continues 
to trend higher, reinforcing the idea that the broader, macro trend remains 
bullish. Furthermore, XRP is holding above the EMA cluster, indicating that 
the market structure has not yet broken down. Notably, the upper boundary of 
the descending channel aligns closely with the former $2.30 breakout level, 
adding technical significance to this zone. From here, the implications are 
clear. A clean and decisive 3-day close above $2.40 would likely confirm a 
breakout from compression, opening the door for continuation toward the $2.70 
region, with $3.13 emerging as a higher upside objective. On the other hand, 
rejection at resistance would likely keep XRP trading in a range. However, as 
long as the price remains above the $2.00 area, the overall bullish structure 
stays intact. This is not a breakdown scenario; rather, it reflects tightening 
price action that often precedes a strong expansion. Triple Tap Hits Range 
Highs, Reaching A Key Inflection Point In a recent market update, CrediBULL 
Crypto noted that XRP has now completed its triple-tap move, successfully 
reaching the upper boundary of its range. With liquidity at the range highs 
already taken, the market now stands at a clear crossroads, presenting two 
distinct paths for price action going forward. Related Reading: Why XRP Is 
Gearing Up For A Massive Week The first scenario frames the recent move as 
nothing more than a relief bounce, sweeping liquidity at the highs before 
resuming its local downtrend, within the higher-timeframe uptrend. If this 
plays out, price could move lower again, potentially dropping below the $1.77 
level. In the alternative scenario, the triple-tap pattern is interpreted as 
the formation of a solid base of structural demand. Under this view, pullbacks 
are likely to be met with buying interest, with the $1.77 lows acting as a 
support zone rather than a level to be broken. Weighing the broader context, 
particularly Bitcoin’s position and overall market conditions, CrediBULL leans 
toward the second outcome. That bias favors looking for long opportunities, 
with the expectation that XRP will continue to expand higher and eventually 
target untapped levels above the current range. Featured image from Freepik, 
chart from Tradingview.com

XRP Compresses At A Breakout Line — Structure Says Expansion Is Brewing

Coinbase CEO Brian Armstrong raised four crucial points that he believes would 
make the legislation “materially worse” for the US crypto industry.

Coinbase pulls support for crypto bill: ‘no bill’ better than ‘bad bill’

Coinbase CEO opposes Senate crypto bill draft, warning it threatens DeFi and 
tokenized equities as Lummis signals hearing may be postponed.
The post Coinbase opposes Senate crypto bill, warns of SEC overreach and DeFi 
bans appeared first on Crypto Briefing.

Coinbase opposes Senate crypto bill, warns of SEC overreach and DeFi bans

Bitcoin is consolidating after a strong rally as momentum cools and focus 
shifts to U.S. regulation, with Bitwise signaling the CLARITY Act could 
determine whether the market breaks higher or slips back into uncertainty. 
Bitcoin Holds the High Ground as CLARITY Act Momentum Builds Toward New All- 
Time Highs At 6:47 p.m. on Jan. 14, bitcoin […]

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