On May 4, XRP surged from $1.3840 to $1.4065 during early trading in Asia, fueled by a notable rise in trading volume. This move saw it break through the $1.40 resistance as Bitcoin also scaled back over $80,000.
Summary
- The rise in trading volume at the $1.40 mark confirmed a genuine breakout on May 4, indicating solid positioning rather than just a low-volume surge.
- The $1.45 mark serves as a vital structural barrier, with about 36.8 billion XRP—60% of the available supply—averaging a cost of $1.44, as reported by Glassnode.
- According to Standard Chartered, if the CLARITY Act gets passed by the Senate Banking Committee before May 21, it could lead to an influx of $4 to $8 billion into XRP ETFs.
XRP surpassed the $1.40 threshold for the first time in several days on May 4, coinciding with Bitcoin’s rise past $80,000. As highlighted by crypto.news last week, Standard Chartered analyst Geoffrey Kendrick indicated that the Senate Banking Committee’s support for the CLARITY Act could unlock $4 to $8 billion for XRP ETFs, making the week of May 11 a pivotal moment that could challenge the $1.45 resistance.
The $1.45 level had previously rebuffed XRP four times in 2026, including a brief spike to $1.50 on April 17, following Rakuten’s integration of XRP payments for its 44 million Japanese customers.
Data from Glassnode shows that around 36.8 billion XRP, equating to roughly 60% of the total circulating supply, is held at an average cost of $1.44. This creates a psychological barrier with each attempt to rise above. Traders are closely monitoring whether XRP can maintain support at $1.40 and push past $1.41 to $1.42. A drop below $1.40 would indicate a potential reversal of this breakout.
As noted by crypto.news earlier, Standard Chartered reduced its 2026 XRP prediction from $8 to $2.80 back in February due to macroeconomic challenges. Thus, the CLARITY Act’s influence remains key for any potential upward adjustment this year. Additionally, crypto.news reported that XRP spot ETFs experienced $81.63 million in inflows throughout April, continuing for 20 days until a pause on April 30, before market recovery on May 4 reignited buyer interest.