The Senate Banking Committee, chaired by Tim Scott, has scheduled a markup of the CLARITY Act for May 14 at 10:30 AM EST. The legislation would write XRP's commodity classification into federal law, building on the SEC-CFTC joint ruling from March 17, 2025. XRP was trading at $1.47 Sunday afternoon, up 2.5% in the last 24 hours after briefly dipping to $1.43 — a reminder that Washington is front and center this week.
What the CLARITY Act does
The bill would give XRP a clear regulatory home, removing the legal limbo that has lingered since the SEC's enforcement action. Over 120 crypto firms urged the Senate to pass it in a letter sent last month. On Polymarket, traders put the odds of passage sometime in 2026 at 62%, with the range bouncing between 62% and 72% in recent trading. The markup is the first formal committee action and will test whether the bill has enough bipartisan support to move forward.
ETF inflows and whale accumulation
Spot XRP ETFs have pulled in $34.2 million in net inflows this week, pushing total assets under management toward $1.5 billion since the products launched in November 2025. On-chain data shows wallets holding 10,000 or more XRP hit a record 332,230 — large holders are adding, not selling. The combination of institutional money and whale buying helped XRP bounce back from Monday's 1.6% dip, when it fell below $1.45.
Key price levels and a long-term call
Immediate resistance sits between $1.50 and $1.60. Above that, the 200-day moving average at $1.80 is the next ceiling. On the downside, support is at $1.28 with a hard floor near $1.20. Standard Chartered has projected XRP could hit $8 if the CLARITY Act passes in full and $10 billion in ETF inflows materialize by year-end. That's an ambitious target, but it underscores how much depends on policy clarity.
The May 14 markup will be the first real hurdle. If the bill clears committee, a floor vote follows — no date yet. For now, traders appear to be betting it gets that far.
