Cryptocurrency markets rallied sharply on Thursday after the Senate Banking Committee delivered a major win for the industry by advancing the long-anticipated CLARITY Act.
The market reaction was visible across the largest coins: Bitcoin (BTC) jumped to $81,899 at the time of writing, representing about a 2.7% gain, while XRP led among the top ten cryptocurrencies, surging above $1.50 with gains of more than 6%—a level not seen since March of this year.
Even with the momentum, the bill is still not law, and it faces multiple political and procedural hurdles before it can be finalized.
Next Steps For The CLARITY Act
The committee’s action—passing the CLARITY Act by a 15–9 vote—means the next step is a full Senate vote, which would require roughly 60 votes to pass.
If it clears that threshold, the process would move into the next phase, typically involving House–Senate talks to reconcile differences between versions, followed by a potential presidential signature, which could further boost crypto prices.
At the same time, several Democrats voiced reservations about whether the CLARITY Act strikes the right balance. As earlier reported by Bitcoinist, the hearing included discussion of Democratic amendments aimed at concerns such as stablecoin yields and AML.
Those amendments were either voted down or rejected by Scott on the basis that they were not written correctly and therefore could not be offered in that process.
XRP Reclaims $1.50, Bitcoin Nears $82,000
Beyond the CLARITY Act, the market’s chart-driven response turned into a question of whether XRP and Bitcoin can continue to convert momentum into follow-through.
With XRP reclaiming the $1.50 area, a decisive weekly close above $1.50 is now being watched as a potential trigger for further upside.
Some projections point toward targets in the $1.65 to $1.70 range, and a more aggressive bullish extension could carry expectations toward $1.85 if the rally gains additional strength.
For Bitcoin, traders have been focused on a specific resistance level: $83,000. That level has been a key barrier recently, as it prevented continued upside after last week’s move.
Earlier in the week, Bitcoin also experienced a pullback that took it below $79,000 on Wednesday, before rebounding again toward $82,000 on Thursday in the immediate aftermath of the CLARITY Act committee vote. In other words, the market is celebrating today’s progress, but the next technical test remains close by.
Featured image created with OpenArt, chart from TradingView.com