New on-chain and institutional data point to growing bullish pressure on XRP as the token trades near a key technical ceiling ahead of the Senate Banking Committee’s markup of the CLARITY Act. XRP was changing hands around $1.43, down about 1.8% on the day, but accumulation among large holders and fresh inflows into XRP investment products suggest momentum could pick up if the legislative process delivers clearer regulatory guidance.
On-chain analytics firm Santiment reported on X that wallets holding at least 10,000 XRP climbed to a record 332,230, continuing a steady accumulation trend that began in June 2024. Santiment’s data show large holders added to positions even through bouts of volatility, a pattern the firm says underpins a more bullish holder base. The analytics provider also flagged an abrupt drop of more than 4,500 so-called whale wallets between Feb. 6 and Feb. 8, but added there was no confirmed XRP-specific event tied to that decline.
Institutional flows have been reinforcing the on-chain picture. CoinShares said XRP exchange-traded products recorded $40 million in inflows in the week ending May 8, bringing year-to-date inflows to $191 million and assets under management to $2.5 billion. CoinShares head of research James Butterfill described the pace of inflows as a “notable acceleration,” linking demand to developments around the US CLARITY Act compromise proposal on stablecoin yields. US-listed spot XRP ETFs also posted strong demand, with SoSoValue reporting $25.8 million in inflows on May 11 — the biggest single-day intake for those products since Jan. 5.
Technically, traders are watching the $1.50 area as the decisive breakout level. XRP sits above its 50-day exponential moving average near $1.41 but remains capped under the 100-day EMA at about $1.49 and the 200-day EMA around $1.71, a picture analysts interpret as short-term resilience inside a longer-term consolidation. Pseudonymous analyst Bird noted that XRP recently broke above a multi-month support line, which could set the stage for a major rally, while fellow analyst ChartNerd said the rebound from ascending support opens the possibility of a move toward $1.80.
Related Recipes
Carnival urges modest swimwear and shore attire on Lifou to safeguard future port calls
CMS tightens medically frail exemption in Medicaid work requirements ahead of 2027 rollout
Graham Platner campaign rally in Bar Harbor amid new scrutiny over messages to women ahead of Maine Senate primary
Yü Group Emerges as UK Undiscovered Gem in Screen Highlighting Strong Fundamentals and Valuation Discount
The Senate markup of the CLARITY Act, scheduled for later today, adds a fresh fundamental trigger. The bill’s supporters argue that formally classifying certain tokens and clarifying the regulatory perimeter — potentially treating XRP-like tokens as commodities rather than securities — could resolve the protracted jurisdictional dispute between the Securities and Exchange Commission and the Commodity Futures Trading Commission. That legal clarity is widely seen as a factor that could reduce institutional hesitancy and unlock further capital into XRP-linked products and infrastructure.
Despite the upbeat signals, market participants remain cautious. Immediate support is viewed at $1.44, with deeper downside at $1.30 and $1.20 if sellers regain control. On the upside, a confirmed daily close above $1.50 would likely expose resistance at $1.60 and then the $1.80–$1.85 region, but analysts warn a decisive breakout will be needed to shift the medium- to long-term technical outlook that is still constrained by the 100- and 200-day EMAs.
Trending Now
Interior Outlines 20-Hour Construction Schedule for Trump’s 250-Foot Triumphal Arch Amid Regulatory Reviews
Knicks’ slow starts persist in the Finals as Spurs’ starting unit dominates early
Lincoln Memorial Reflecting Pool Receives American Flag Blue Coating in Trump-Ordered Renovation Ahead of July 4
Graham Platner Wins Maine Democratic Nomination to Challenge Susan Collins in Pivotal Senate Race
What happens in Washington this week could be the catalyst that tips the balance. For now, accumulation by large wallets and accelerating institutional flows have put XRP in a tighter range directly beneath the $1.50 threshold — a level traders now see as the line between continued consolidation and a renewed attempt at a sustained rally.
Continue Reading
