XRP, with Senate Bill Passage Imminent, Will It Break Through the Psychological $1.60 Mark and Make a Grand Comeback?

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Ahead of two major overlapping positive catalysts – the U.S. Senate's review of a cryptocurrency regulation bill and the introduction of real-world payments by Japanese banks – XRP (Ripple) is forming a symmetrical triangle pattern near $1.33, indicating the calm before a storm for a major directional decision.

According to investment media outlet FX Leaders on April 14 (local time), XRP is currently trading within a narrow range between $1.30 and $1.35, with a 24-hour trading volume maintaining between $1.5 billion and $2 billion. Typically, April has been a bullish month, recording an average return of 24.8%, but this year, due to macroeconomic volatility, it has shown a somewhat sluggish trend, testing the $1.28 to $1.30 range as a key support level.

Market attention is focused on the U.S. Senate, which has returned from its Easter recess. As the Senate Banking Committee plans to review the U.S. Cryptocurrency Market Structure Bill, the Clarity Act, later this month, if the bill passes and XRP is fully classified as a digital commodity, it is expected to be a powerful catalyst that will push the price from $1.45 to over $1.60, along with an explosive inflow of institutional funds.

The adoption rate in the real economy is also remarkable. At the XRP Tokyo 2026 Conference, Japanese banks demonstrated that cross-border payments using the XRP Ledger can be completed within 4 seconds, reducing costs by 60% compared to the traditional SWIFT (Society for Worldwide Interbank Financial Telecommunication) remittance method. With new payment routes emerging from Japan to Southeast Asia, the movement of global institutions to adopt the ledger for payments and liquidity is accelerating.

From a technical perspective, XRP is tightly poised between a descending resistance line and an ascending support line on the 2-hour chart, preparing for a short-term breakout. However, the price remains below the 50-day and 200-day exponential moving averages, which are running parallel around $1.34 to $1.36, indicating that a clear uptrend has not yet been established.

The short-term direction of the order book depends on whether it can break through the key resistance level between $1.34 and $1.37. If it closes strongly above $1.37, it could completely invalidate bearish forecasts and jump to $1.42 in one go. Conversely, if it falls below the $1.33 defense line, there is a constant risk of dropping to $1.30 and then $1.28, thus requiring a cautious approach.

*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.*