"4 May variables explode"...XRP, at a crossroads between $1.50 breakthrough vs collapse

▲ XRP/AI generated image

As May approaches, XRP has entered a pivotal moment where its direction will be determined, with several key events converging simultaneously.

NewsBTC reported on May 2 that while XRP saw a rebound, rising approximately 9.4% throughout April, it has still not escaped a narrow price range.

Market analyst Sam Daodu presented four key events as variables that will move the price in May. Currently, XRP is trading between $1.30 and $1.45, showing a trapped trend without a clear direction.

The first variable is the TAS function of Coinbase derivatives, which was applied on May 1. This function aims to improve the efficiency of XRP futures trading, thereby enhancing accessibility for institutional investors.

The second variable is the scheduled launch of GraniteShares' 3x leveraged XRP ETF on May 7. Leveraged products have the characteristic of significantly amplifying volatility once a market direction is established.

The third variable is May 15, which marks the end of Jerome Powell's term as Federal Reserve Chairman. This date has been identified as a schedule that could affect the overall flow of risk assets in the market if interest rate cut expectations are re-reflected.

The fourth and most critical variable is the U.S. cryptocurrency market structure bill (CLARITY Act). The decision on whether this bill will be processed is expected before the Senate recess on May 21, and it has been mentioned as a key catalyst for XRP's rise.

Daodu explained, "If the bill passes, billions of dollars in ETF funds could flow in," emphasizing the possibility of significant institutional capital inflow.

Price scenarios were also clearly presented. If the resistance of $1.45 to $1.50 is broken, there is an upside potential of approximately 30%, with a rise to about $1.80. Conversely, if the $1.30 support level breaks, the structure could collapse, opening a downside range to $1.28, then $1.20, and even $1.17.

If the bill's passage is delayed, there is a possibility that XRP will not secure independent upward momentum and will remain subservient to Bitcoin's price movements.

With May's schedule, regulatory variables, and institutional fund flows converging simultaneously, XRP has entered a critical phase where its short-term direction will be determined.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*