Bitcoin and XRP Price Prediction as U.S. Senate Confirms April Markup for CLARITY Act

Bitcoin and XRP price action weakened despite the U.S. Senate confirming an April markup for the CLARITY Act. Bitcoin slipped 1.68% in the past 24 hours to $66,687, tracking the broader market decline.

XRP price dropped 2.51% over the same period to trade near $1.32 as sentiment softened. 

The overall cryptocurrency market dropped 1.42% to the level of $2.3 trillion because of increased uncertainty. Ether price remained within the range of  $2,000 after a slight pullback, as growing tensions in the Middle East undermined the general risk appetite.

U.S. Senate Sets April Markup for CLARITY Act

U.S. Senate has formally scheduled an April markup for the Digital Asset Market CLARITY Act, renewing focus on federal crypto legislation. The Senate Banking Committee is expected to take up the bill in the second half of April. 

Lawmakers are aiming for final approval in May, placing significant pressure on ongoing negotiations. Senator Bernie Moreno cautioned that failure to pass the measure could delay serious digital asset reform until 2027.

Momentum improved after lawmakers reached a tentative understanding on stablecoin yield, the bill’s most disputed provision. The draft currently prohibits passive yield, meaning holders cannot earn rewards simply by keeping stablecoins. The framework would still allow incentives linked to transactional activity, such as payments and transfers.

The suggested restrictions would have a significant impact on Coinbase which earns a considerable amount of money through products related to stable coins. It is estimated that active rewards to the tune of approximately 1.35 billion a year are at risk of being lost in case of a limitation of the passive rewards. 

Coinbase has already dismissed two iterations of the plan and is working on a collective rebuttal of the proposal with other large crypto participants.

Meanwhile, large banking institutions are advocating stricter standards as talks continue behind closed doors. Reports describe tension between JPMorgan CEO Jamie Dimon and Coinbase CEO Brian Armstrong over stablecoin economics. April now represents a critical decision period for U.S. crypto policy.

BTC Inflows Hit $69M as XRP Records $2.31M Outflow

According to SoSoValue data, XRP recorded a daily net outflow of $2.31 million as of March 30.  The overall net inflows into XRP products were solid, at $1.21 billion, even after the recent pullback. 

The overall value of trade of XRP recorded within the session was $11.17 million. U.S. spot Bitcoin ETFs had net inflows of $69.44 million and spot Ether ETFs had net inflows of 4.96 million on the same day.

Bitcoin and XRP Prediction: Key Levels To Watch Ahead of CLARITY Act Decision

Bitcoin and XRP price action remain at a pivotal level as traders monitor key technical supports and macro catalysts. The future Bitcoin outlook must defend the $65,000 zone to maintain near term stability in the market. Holding above that level could allow consolidation toward $68,000 and potentially the $70,000 threshold.

A firm breakdown can lead to a further retraction to the annual low of around $60,000. The U.S. Senate approving the April Markup of CLARITY Act on April 3 is of close interest to the market players.

XRP has been testing around the $1.30 price that is regarded as a crucial price in the direction in the short-term. A prolonged hold can create an opportunity of a rebound to $1.37 and perhaps $1.40. Bullish could push the gains higher than $1.50 in case the sentiment lifts. Loss of support may lead to a slip to the $1.21 swing low.