The U.S. Senate Banking Committee voted 15-9 on Thursday to advance the Digital Asset Market Clarity Act, a major step toward establishing a comprehensive regulatory framework for digital assets in the United States. The bipartisan vote, with all Republicans and two Democrats in favor, sends the bill closer to a full Senate floor debate, sparking renewed interest in XRP's price trajectory.
XRP traded at $1.43 ahead of the committee action, down 1.8% for the session, according to TradingView. The $1.50 level remains a critical resistance point, with analysts noting that a daily close above that mark could open the door to $1.60 and potentially $1.80–$1.85. Near-term support is pegged at $1.44.
Institutional demand for XRP continues to accelerate. CoinShares reported $40 million in net inflows to XRP exchange-traded products for the week ending May 8, bringing year-to-date inflows to $191 million and total assets under management to $2.5 billion. James Butterfill, head of research at CoinShares, described the pace as a "notable acceleration" in institutional adoption.
The bill's progress is seen as a broad positive for the crypto sector, not just XRP. Bitcoin rose approximately 3% to $81,500 following the vote, while Coinbase shares gained 7% and Strategy added 6.4%, according to Barron's. The market response underscores the bill's potential to reshape U.S. crypto policy broadly.
However, the legislative path ahead remains uncertain. The 309-page bill, a product of extensive negotiations, includes a compromise on stablecoin rewards—blocking intermediaries from offering yield on passive stablecoin balances but permitting rewards tied to user activity. Senator Elizabeth Warren criticized the bill as "not ready for prime time," citing concerns over anti-money-laundering loopholes, ethics issues, and decentralized finance risks.
David Carlisle of Elliptic noted that the bill must still merge with the Senate Agriculture Committee's draft, clear a 60-vote threshold in the Senate, and secure House approval. The process could stall amid midterm campaigning, leaving XRP's price subject to standard Washington uncertainty.
XRP has traded in a range between $1.30 and resistance from $1.51 to $1.57 for months, according to Investing.com. A breakout above $1.50 would face further tests at the 200-day moving average near $1.72 and old resistance around $1.80. The token's classification as a "digital commodity" in a joint SEC-CFTC statement in March has provided some regulatory clarity, but the legal question of whether XRP is a security or commodity remains unresolved.
Despite optimism from some analysts, Polymarket odds of XRP reaching $5 by 2026 stand at just 8%, tempering bullish narratives. The bill's advancement is a positive signal, but the ultimate impact on XRP's price hinges on the final legislative outcome and broader market adoption of asset tokenization.
