XRP, Ready to Explode... Whales Accumulating Amid Bill Expectations

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The possibility of the U.S. cryptocurrency market structure bill (CLARITY) passing is increasing, and conflicts surrounding stablecoin yields are showing signs of resolution. Consequently, XRP is gaining strong upward momentum.

According to a CoinGape report on May 4 (local time), XRP recently reclaimed the $1.41 level, setting the stage for a bull market entry. The market is noting that Patrick Witt, the U.S. White House virtual asset advisor, mentioned the possibility of progress on the bill. Advisor Witt stated, "Lawmakers have reached a compromise on stablecoin yields, and bill deliberations could begin as early as May." Expectations that regulatory uncertainty will be resolved are stimulating investor sentiment and driving large-scale capital inflows.

Along with changes in the regulatory environment, the movements of XRP whales are also significant. According to on-chain data, a supply shock for XRP is being observed on major exchange Binance, with large investors accumulating holdings. Institutional investors are also maintaining a bullish bias, betting on future price increases. Bitcoin (BTC) breaking past $80,000 and injecting warmth into the entire market is also a key factor supporting XRP's rally.

Technical analysis shows that XRP has firmly established the $1.30 support level. The next target is the strong resistance level of $1.50, and if it breaks through, an upward range to $1.74 is expected in the mid to long term. Major indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are all sending buy signals, adding weight to the possibility of further upside. In particular, a series of short position liquidations are showing signs of a full-blown short squeeze, pushing the price higher.

Virtual asset industry experts predict that the outcome of this bill's deliberation will be a decisive catalyst for accelerating XRP's integration into mainstream finance. As legal disputes with regulatory authorities enter their final stages and stablecoin-related legislation takes concrete form, XRP's practical utility is being re-evaluated. Investors are closely watching key legislative schedules and macroeconomic indicators slated for May, focusing on whether XRP will break its new highs.

*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.*