XRP concluded April with a 9.4% gain, but traders are eyeing May for potential breakthroughs beyond its current consolidation range of $1.30 to $1.45. Market expert Sam Daodu highlights several catalysts that could propel XRP to new highs, particularly if U.S. crypto legislation progresses as anticipated. Key events include the introduction of Trading At Settlement (TAS) for XRP futures on Coinbase, which could facilitate larger institutional positions. Additionally, GraniteShares plans to launch 3x leveraged XRP ETFs on May 7, potentially amplifying market movements. A significant legislative driver is the CLARITY Act, facing a Senate deadline on May 21. If passed, it could trigger substantial ETF inflows, pushing XRP above the $1.50 resistance level. Daodu warns that failure to pass the CLARITY Act could see XRP remain range-bound, influenced by broader market trends. Support levels to watch include $1.30, with potential declines to $1.20 or lower if market conditions worsen.
XRP Faces Key Catalysts in May Amid Regulatory Developments
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