- XRP rose sharply to $1.55 on the new prospect.
- The Senate Banking Committee approved the Digital Asset Market Clarity Act in a 15-9 vote.
- The price of XRP may look lower as the market is enjoying the positive trend.
The price of XRP rose close to $1.55 on Friday as the cryptocurrency market cheered on the Senate Banking Committee’s passage of the Digital Asset Market Clarity Act.
Other cryptocurrencies also made gains, with Hyperlquid, Flare, and XDC Network leading the top 100 coins in the market.
Bitcoin retook the $80,000 level, with intraday gains coming as major altcoins held high levels.
CLARITY Act to approve crypto buoys
The US Senate Banking Committee approved the Bipartisan Digital Asset Market Clarity Act in a 15-9 vote, marking an important step in the regulation of the crypto market.
The measure will now move to merge with a similar bill in the Senate Agriculture Committee, advancing the legislative process to regulate the digital economy.
Senate Banking Committee Chairman Tim Scott made a last-ditch effort to pass amendments he had previously rejected, winning over two Democratic senators after hours of debate.
Although the legislation addresses several problems with the market system, policy makers and stakeholders have agreed on the top questions.
This includes rules regarding legal access and safeguards.
Market participants welcomed the vote as a positive sign, interpreting it as the first major bipartisan group on the crypto market system in months and reducing regulatory uncertainty.
Why is the price of XRP likely to explode?
Ripple’s XRP token has struggled to rise above $1.50 in recent weeks, but it tested Thursday’s level late with an intraday move to around $1.55.
Although this is related to the large gains of the market, the large increase shows the happiness of the “XRP Army”, which sees the management of the development of the cryptocurrency.
The cryptocurrency traded at around $1.47 earlier on Friday.
🚨 JUST IN: The CLARITY Act has officially removed the US Senate Banking Committee, pushing fraud: one of the deepest parts of the US government system. 🇺🇸
For ripple:native, what happens next is:
1. The CLARITY Act is now moving through the Senate Banking Committee and… https://t.co/VXiaHuH47o pic.twitter.com/r8HgVcSCBs
— RippleXity (@RippleXity) May 14, 2026
XRP’s retest of the $1.50 level comes amid signs of a resurgence in whaling, with on-chain data showing the growth of large wallets and the number of long-term holders.
On-chain data shows that the group has 45.83 billion XRP tokens, the largest draw since May 2018.
A more reliable market-related policy can reduce compliance problems and encourage the adoption of new Ripple payment methods, which can lead to an increase in XRP.
The threat remains, with the road to a final vote including other legislative discussions and amendments that could delay the passage of the law.
The changes could also reduce future profits for market participants. However, analysts see corrections as likely to support sharp price movements.
The price of the token was about 5% higher last week, but has been down 20% year-to-date and is up 61% from its all-time high.
