XRP Price News: 120 Crypto Firms Just Told the Senate to Pass the CLARITY Act

• The CLARITY Act would give XRP permanent commodity status under CFTC regulation, preventing future administrations from reversing its classification without Congressional action
• Analysts project XRP could reach $5-10 by late 2026 if the bill passes, driven by an estimated $4-8 billion in ETF inflows and expanded institutional adoption of Ripple's payment network
• Memorial Day recess starts May 21, leaving only weeks for the Senate Banking Committee to act before the legislative window closes, with Kevin Warsh's Fed Chair confirmation consuming committee time

Summary: XRP and the CLARITY Act Legislative Push

Over 120 cryptocurrency firms, including Coinbase, Ripple, Kraken, Circle, and Andreessen Horowitz, jointly urged the Senate Banking Committee on April 23 to schedule a markup vote for the CLARITY Act. Senator Bernie Moreno has warned the bill must pass the Senate by end of May or risk being shelved until 2030.

Legislative Status:

The Digital Asset Market Clarity Act passed the House 294-134 on July 17, 2025, establishing clear regulatory jurisdiction between the SEC and CFTC for digital assets. The bill permanently classifies XRP as a digital commodity under CFTC oversight. After months of delays over stablecoin yield provisions, a compromise was reached on March 20. On April 9, major endorsements came from Coinbase, Treasury Secretary Scott Bessent, and SEC Chair Paul Atkins. However, Senate Banking Committee Chairman Tim Scott has not yet scheduled the markup vote, partly due to Kevin Warsh's Fed Chair confirmation hearings consuming committee time.

Market Implications:

XRP currently trades at $1.43, struggling with resistance levels. If the CLARITY Act passes, analysts forecast XRP could reach $5-10 by late 2026, with Standard Chartered projecting $4-8 billion in cumulative XRP ETF inflows. XRP ETFs captured 53% of the $224 million flowing into crypto funds globally last week.

Without passage, XRP would likely range between $1.50-$2.50 through 2026, with downside risk to $0.80 if technical support at $1.28 breaks. The bill's failure would eliminate institutional demand drivers and delay regulatory clarity indefinitely.

Critical Timeline:

Memorial Day recess begins May 21, leaving only weeks for action before the midterm calendar potentially kills the bill for years.