Crypto analyst Steph Is Crypto (@Steph_iscrypto) shared a stark assessment of XRP’s situation. He said it’s over for XRP and opened his video, saying, “Game over for XRP and for crypto.”
He pointed to a brutal 15% drop on the 30-minute chart. The catalyst was the U.S. Senate blocking the CLARITY Act from advancing on September 15.
The bill would have created a new federal regulatory framework for the $2.3 trillion crypto industry. It fell short of the 60 votes needed to advance, and the entire crypto market sold off hard in response.
$XRP it’s over guys… pic.twitter.com/2ECfbr4ovF
— STEPH IS CRYPTO (@Steph_iscrypto) September 16, 2026
What the Charts Show
Despite the grim news, Steph’s analysis goes deeper than the headline drop. On the 4-hour chart, he noted that XRP is “currently exactly trading on top of this downward support line.” The last time XRP touched this trend line was after the late August breakout. The asset bounced off this level. The digital asset is now forming the same setup.
Pulling back to the daily chart, Steph identified support holding near $1.27 to $1.28, a zone that has held XRP up for several months. Losing it opens the door to a drop to $1.15 to $1.20 before any recovery begins.
The Pattern Steph Is Watching
Steph’s most significant observation comes from the weekly chart using the Gaussian channel indicator. He identified a pattern that has repeated across two prior market cycles. In both 2020 and 2022, XRP broke below the Gaussian channel, rallied back into it, got rejected, formed a double bottom, then moved to new highs.
He sees 2026 setting up the same way. XRP has broken below the channel and already bounced back into it. A double bottom retest before continuing upward is very possible, particularly if it fails to reclaim $1.40 quickly.
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The Level to Watch
Steph gave one clear threshold. “If we break back above $1.40, then that could be our first indication that the price is most likely heading a lot higher.” Without that break, the risk of a deeper pullback stays open.
What Comes Next?
The failed CLARITY Act vote leaves the crypto industry with uncertainty. Congress departs Washington this month ahead of November midterm elections. Without the legislation, firms remain subject to agency rules that future administrations can reverse.
For XRP, everything now hinges on whether current support holds. Steph’s analysis gives two scenarios: a bounce from the trend line or a breakdown toward $1.15. The $1.40 level is the signal that changes the outlook.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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