XRP (CRYPTO: XRP) spiked to $1.55 following the CLARITY Act passing the Senate Banking Committee before pulling back below $1.45
Whales Hold 45.83 Billion XRP Tokens
Wallets holding at least 10 million XRP now control 45.83 billion tokens worth $68.5 billion, representing 68.5% of circulating supply.
This marks the highest whale concentration since May 2018, signaling major holders are accumulating rather than distributing into strength.
The spike to $1.55 occurred immediately after the Senate Banking Committee passed the CLARITY Act 15-9, legislation that could formally reinforce XRP’s regulatory status as a commodity rather than a security.
ETF Inflows Accelerate To $49.63M Weekly
U.S. XRP Spot ETFs recorded $18.52 million in net inflows Thursday, bringing weekly inflows to $49.63 million with Friday still remaining.
Bitwise XRP (NYSE:XRP) led with $7.01 million in daily inflows, followed by Franklin XRPZ (NYSE:XRPZ) at $6.64 million and Canary XRPC (NASDAQ:XRPC) at $4.87 million.
Last week ending May 8 posted $34.21 million cumulative, meaning this week is tracking 45% higher.
Moreover, total net assets reached $1.25 billion, with cumulative inflows hitting $1.37 billion.
Bollinger Band Breakout Confirms Momentum
XRP breached the upper Bollinger Band at $1.4850, historically signaling strong momentum. The BB squeeze that built through April has now fully released to the upside.
Today’s pullback from $1.50 is a classic upper band retest, not a reversal. The SMA at $1.4161 and SAR at $1.4076 form solid confluence support below current price.
XRP is consolidating with higher lows, suggesting mounting pressure for a potential breakout above the long-standing $1.50 resistance level.
Derivatives Activity Surges Ahead Of Vote
Trading activity and derivatives positioning increased sharply ahead of the Senate Banking Committee vote. Rising open interest indicates traders are positioning for a larger move rather than selling into strength.
Support sits at $1.41–$1.42 SMA/SAR confluence. Next target is a clean break and hold above $1.50, with full target at $1.55–$1.63. Invalidation occurs on a daily close below $1.38.
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