XRP sidelines at $1.34 as traders wait on CLARITY Act — Senate returns April 13
XRP was trading in a tight range around $1.34 on April 10 as markets held their breath for congressional movement on the XRP CLARITY Act. Institutional investors appear to be treating the bill as a binary catalyst: until the Senate acts, price action is muted and range-bound.
What’s happening now
- Price action: XRP traded between $1.33 and $1.35 on April 10, gaining roughly 0.8%–1.0% over 24 hours, according to FX Leaders.
- Timeline: Congress returns from its Easter recess on April 13. A Banking Committee markup of the CLARITY Act is targeted for the second half of April.
- Probability: Polymarket currently prices the bill’s odds of becoming law in 2026 at about 63%–66%.
Why the bill matters
The CLARITY Act would explicitly classify XRP as a digital commodity under U.S. law, giving banks and large asset managers clearer legal footing to allocate capital at scale. Analysts see major upside if the Senate advances the bill: Standard Chartered’s Geoffrey Kendrick estimates that a Banking Committee green light could unlock an additional $4–8 billion in inflows to XRP spot ETFs.
Market context
Seven U.S. spot XRP ETFs have already drawn $1.44 billion since their September–December 2025 launches — achieved without CLARITY in place. Many institutional dollars remain on the sidelines pending a durable, statutory rule that would reduce regulatory risk.
Political risks and timing
- Ripple CEO Brad Garlinghouse has moved his expected passage timeline from late April to the end of May.
- Senator Bernie Moreno has warned that missing the May window risks the bill being pushed off the congressional calendar for the rest of the year.
- TD Cowen and multiple legal analysts caution that if the measure doesn’t clear the Senate before summer, midterm-election dynamics could make a post-August push unlikely.
- In a Wall Street Journal op-ed, Treasury Secretary Scott Bessent urged Congress to act, noting that “Senate floor time is scarce, and now is the time to act.”
Bottom line
For now, $1.34 looks like a psychological floor for XRP as traders wait on Washington. Key dates to watch: the Senate’s return on April 13 and the Banking Committee’s planned markup in the second half of April — both events could determine whether institutional capital flows materially accelerate.
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