XRP Jumps 6.6% to $1.54 After Senate Advances CLARITY Act

TL;DR: XRP gained 6.6% to $1.54 after the Senate Banking Committee passed the CLARITY Act with a 15-9 vote.

The CLARITY Act seeks to create a clear federal framework for digital assets, deciding whether tokens like XRP are treated as commodities or securities. A commodity classification would let banks custody, trade, and settle XRP under existing rules, reducing compliance hurdles for institutions. Earlier in the week, XRP traded around $1.44 while Bitcoin rose about 1.2% to $27,800, providing a benchmark for broader crypto sentiment.

The committee voted 15-9 on Thursday, advancing the bill to the full Senate floor where supporters need at least 60 votes before the May 21 Memorial Day recess.

XRP’s price rose from $1.44 to a session high of $1.54, a 6.6% increase, lifting its market cap to roughly $85 billion based on a circulating supply of about 55 billion tokens. Trading volume on the day exceeded 21 million XRP, up roughly 30% from the previous session’s average.

Standard Chartered said clearer regulation could draw billions of dollars into XRP-linked investment products. The firm noted that spot XRP ETFs, if approved, could capture a significant share of that inflow, similar to trends seen with Bitcoin and Ethereum ETFs.

The vote reduces regulatory uncertainty, potentially opening the door for traditional financial firms to offer XRP custody, trading, and settlement services. Analysts suggest that if the full Senate passes the bill, inflows into spot XRP ETFs and related products could test the $1.55-$1.60 resistance zone and possibly push toward $1.80 over the next quarter.

Traders will watch the Senate floor vote scheduled for early next week and any subsequent ETF filings for signs of sustained institutional demand. Additionally, on-chain metrics such as active wallet count and transaction volume on the XRP Ledger will indicate whether retail participation remains aligned with the price move.