XRP jumps to $1.52 after Senate Banking Committee advances CLARITY Act

XRP surged to $1.52 on June 1 after the Senate Banking Committee advanced the CLARITY Act in a 15‑9 bipartisan vote, a move that lifted the token above its recent $1.30 support level and reignited short‑term buying interest.

Regulatory catalyst behind the rally

The CLARITY Act, which aims to create a unified regulatory framework for virtual assets, cleared its biggest procedural hurdle when the Senate Banking Committee voted to advance it on May 14 [3]. The bill’s progress to the full Senate (now on the Legislative Calendar, Calendar No. 423) signaled that a floor vote could occur soon, prompting traders to price in the possibility of clearer rules for crypto, especially XRP [1]. The immediate market reaction was a jump from $1.42 to $1.52, though the rally stalled as sell orders clustered around the $1.44‑$1.45 zone [2].

On‑chain and institutional context

XRP’s price move occurred alongside strong institutional inflows: spot XRP ETFs have attracted $1.43 billion since launching in November 2025, with a May record of $131.94 million [1]. Despite a broader crypto sell‑off that erased $8 billion from XRP’s market cap, these inflows helped cushion the token. On‑chain data show more than 25 million XRP moving off exchanges and a record 332,230 whale wallets (≥10,000 XRP) holding the token, suggesting accumulation rather than panic [1]. A fresh escrow release on June 1 added supply pressure, but historical releases have been absorbed without major breakdowns [1].

Technical picture and price outlook

Technical indicators remain bearish: XRP sits below its 7‑day, 14‑day, and 30‑day moving averages, and the RSI has slipped to 27.55, deep in oversold territory [1]. The breakdown below $1.30 on June 1 was confirmed by 96.26 million XRP of volume, indicating a decisive sell‑off [1]. Immediate support sits at $1.20; a close below that could open a path toward $1.00. Conversely, a daily close above $1.34 with strong volume would reopen the path to the $1.45 resistance and potentially the $1.55 level seen after the committee vote [1].

What to watch

• Senate floor vote – a full Senate decision on the CLARITY Act (requires ≥60 votes) could trigger a rapid price move.
• Supply dynamics – the June 1 escrow release and any future monthly releases; watch for on‑chain absorption.
• Key price thresholds – $1.20 support, $1.34 bullish break, and $1.45 resistance as markers for short‑term direction.

The CLARITY Act’s advancement has already proved a potent price driver for XRP, but the token’s near‑term trajectory hinges on whether the Senate schedules a floor vote and how institutional demand balances against fresh supply from escrow releases.