XRP Reddit Calls Clarity Act the Final Green Light, Is $5 Next?

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The Digital Asset Market Clarity Act is making waves across the crypto space, and nowhere more than in the XRP community on Reddit. This proposed U.S. legislation aims to clearly define how digital assets are classified, finally addressing years of legal gray areas that have dogged projects like XRP.

On Reddit, excitement is running high, with user CoffeeWelder calling the Clarity Act a long-awaited “green light” for XRP’s next chapter. One top-voted comment summed it up: “The last piece of this long, drawn-out puzzle.” They say this legislation will give full legal clarity for crypto, enabling thousands of companies to openly operate on the XRPL and potentially bring billions or even trillions in value onto it quickly.

They even expect around 30 ETFs to be approved by year-end, with tokenized assets allowed without permission. The Senate vote is expected in September after the August recess. Until this passes, they believe it will be hard for XRP to cross $5 anytime soon.

Holders Double Down on Patience

Despite the price swing, many community members echoed strong “HODL” sentiment. User PotatoRebellion12, who has already held XRP for six years, said they have no intention of selling now. Others chimed in with variations of “diamond hands” and confidence in XRP’s long-term outlook, with one noting, “Last chance to pack them bags.”

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Some, like omegacrunch, speculated there could be one more big dip before the legislation passes, likely aimed at shaking out weak hands. Despite this, most participants seemed committed to holding through any volatility.

Not Everyone on the Board

Not all were fully convinced. User Intrepid-Armadillo85 voiced frustration over the “moving goalposts”, noting that the community has often been told to wait for “the next big thing” before XRP takes off. In response, CoffeeWelder clarified that the Clarity Act is the real, final milestone, arguing that executives and institutional investors have consistently said they won’t enter crypto markets without official regulatory approval.

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FAQs

What is the Digital Asset Market Clarity Act?

Proposed U.S. legislation to clearly define crypto classifications, potentially resolving XRP’s legal gray areas. Senate vote expected September 2024.

How will the Clarity Act affect XRP?

Could enable mass XRPL adoption by businesses, with 30+ ETFs expected if passed. Community believes it’s the final regulatory hurdle for XRP growth.

Could XRP hit $5 after the Clarity Act?

Holders believe $5+ is possible post-passage, but expect volatility until September vote. Some predict one last price dip to shake out weak hands.

XRP Reddit Calls Clarity Act the Final Green Light, Is $5 Next?

Holders Double Down on Patience

Not Everyone on the Board

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