With the next stage of CLARITY Act being aimed for July 20, XRP bulls are coming out in force — could a rally be coming?
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Key Takeaways
Sen. Cynthia Lummis expects the CLARITY Act to reach the Senate floor within four weeks.
Some XRP bulls claim its passage could create new millionaires, drawing criticism from other holders.
A $10,000 XRP investment at $1.10 would require the token to reach $110 to become worth $1 million.
XRP bulls have seized on fresh comments from US Senator Cynthia Lummis suggesting the CLARITY Act could reach the Senate floor within four weeks, with some claiming its passage will produce a major price rally and create a new wave of crypto millionaires.
The Wyoming Republican told Fox Business on Tuesday that the long-awaited digital asset market structure bill was ready for “prime time” following 10 months of negotiations.
However, Lummis stopped short of guaranteeing the CLARITY Act’s exact passage date, while the scale of the rally required to turn an ordinary XRP investment into $1 million shows how speculative some of the latest claims have become.
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Speaking on Fox Business’s Mornings with Maria, Lummis said lawmakers had worked almost continuously over the past 10 months to prepare the legislation.
“Well, it’s taken us virtually every day for the last 10 months to get this bill in the condition it’s in today, and we’re ready,” she said.
Lummis said updated legislation would be introduced within days as senators begin a four-week legislative stretch before the August recess.
“We’re going to be in session now for four straight weeks,” she said.
Adding: “It’s very important that we get this bill across the finish line before the August recess begins.”
Asked whether the legislation would reach the floor during the week of July 20, Lummis said she expected that timetable but acknowledged that Senate Majority Leader John Thune would make the final decision.
“I expect it’ll be that week,” she said.
Adding: “I think he’ll schedule it this four-week period.”
To eventually pass, it must still clear the Senate, potentially overcome a 60-vote procedural threshold, and win approval from both chambers before reaching President Donald Trump’s desk.
Trump and Crypto Leaders Intensify CLARITY Push
The latest timetable comes after Trump called on senators to pass the legislation in memory of the late Sen. Lindsey Graham, who died on July 11.
“In honor of Senator Lindsey Graham, a big supporter, the U.S. Senate should pass the Clarity Act,” Trump wrote on Truth Social.
The president also linked the legislation to competition with China over digital finance and artificial intelligence, warning: “Don’t let China win on either subject.”
Although Graham supported crypto legislation, he was not one of the CLARITY Act’s principal architects.
Senate Banking Committee Chair Tim Scott, Lummis, and Sen. Thom Tillis have led work on the Banking Committee text.
Couldn’t agree more with @POTUS. Senator Graham was a good friend of mine and was passionate about ensuring that American leadership stayed at the forefront of everything – including digital assets.
The legislation has also received support from Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, and other industry leaders.
“Ripple stands behind this bill because [millions of Americans] deserve the same rules and protections as every other asset class,” Garlinghouse said following the committee vote.
BitMine Chair Tom Lee has also argued that changing expectations surrounding the legislation are already influencing crypto markets.
“We believe regulatory clarity is an important milestone, enabling crypto, particularly smart contract platforms like Ethereum, to benefit,” Lee said earlier this month.
XRP Bulls Predict Major Rally if CLARITY ACT Passes
XRP supporters have presented the approaching Senate deadline as a potential turning point for the token’s price.
The 24-day reference related to the limited period available for senators to act before leaving Washington for the August recess.
However, the post did not provide an XRP price target, starting investment, valuation model or explanation of how passage would create new millionaires within that timeframe.
XRP bulls are promoting extremely high predictions | Source: X (@realOscarRamos1)
Supporters argue that the CLARITY Act could benefit XRP by reducing regulatory uncertainty and giving exchanges and institutional investors clearer rules for handling digital assets.
But other XRP holders were not convinced by the major price predictions.
“You are everything that is wrong with the xrp community. Spewing this nonsense. Disgusting,” said one X user.
Another wrote: “Bro if XRP had any real use case value it would be reflected right now. Banks love using ripple net, yet they have no desire to use the XRP token.”
CLARITY Act Passes: Would XRP Actually Create New Millionaires?
XRP was trading near $1.10 at the time of reporting, with approximately 62.47 billion tokens in circulation and a market capitalization of around $69 billion.
At that price, an investor putting $10,000 into XRP would receive approximately 9,090 tokens.
For those tokens to become worth $1 million, XRP would have to reach about $110.
An investor starting with $1,000 would hold roughly 909 XRP and would need the token to reach around $1,100 to produce a $1 million portfolio — a 1,000-fold increase.
At $110, XRP’s current circulating supply would produce an implied market capitalization of approximately $6.9 trillion.
That would be more than five times Bitcoin’s current market value of roughly $1.3 trillion.
XRP would also need to be trading around 30 times above its record high of approximately $3.65.
While passage of the CLARITY Act could improve sentiment and help encourage wider institutional participation, producing a 100-fold increase within several weeks would require extraordinary repricing.
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
