What is the CLARITY Act and why does it matter for XRP?

The CLARITY Act is US legislation aimed at defining the jurisdictional split between the SEC and CFTC over digital assets. For XRP, it's been the most-cited regulatory overhang keeping US institutions from building positions. A Senate Banking Committee markup is required before the May 21 recess for the bill to remain on track this session, per the analysis Daodu published with NewsBTC.

What did Coinbase activate for XRP on May 1?

Coinbase Derivatives turned on Trading At Settlement, or TAS, for nano XRP and full-sized XRP futures contracts. TAS lets traders transact at the day's settlement price, a workflow US institutional desks use to size into futures positions without working orders through the session.

When are the GraniteShares leveraged XRP ETFs scheduled to list?

May 7, 2026. The products are 3x leveraged long and short XRP ETFs, the first triple-leveraged XRP wrappers in a US-listed format.

What price levels invalidate the bullish setup?

A daily close below $1.30 invalidates the cup-and-handle structure Daodu has worked with since February. Below that, the reference levels he flags are $1.28, $1.20, $1.17, and $1.00.

XRP Holds $1.39 Into May With CLARITY Act Senate Deadline And GraniteShares 3x ETF Launch In Focus

XRP entered May trading near $1.39 on Friday after closing April up roughly 9.4%, with traders watching a stack of US catalysts that begin with Coinbase Derivatives activating Trading At Settlement for XRP futures on May 1. Market analyst Sam Daodu told NewsBTC the token is pinned in a $1.30-$1.45 consolidation, and the May calendar carries the first hard tests of whether that range breaks. The most consequential date is May 21, the Senate's Memorial Day recess, which doubles as the effective deadline for the delayed CLARITY Act.

By Elena Stojanović· Regulation correspondent

What happened

XRP rolled into May at roughly $1. 39 after an April that delivered a 9. 4% gain, according to NewsBTC's reporting on a market outlook from analyst Sam Daodu.

The first piece of the May calendar is already live: Coinbase Derivatives switched on Trading At Settlement, or TAS, for nano XRP and full-sized XRP futures contracts on May 1. TAS lets institutional desks transact at the day's settlement price rather than working an order through the session, a workflow US funds use heavily in CME futures markets. From there the calendar tightens.

GraniteShares is scheduled to list its 3x margin XRP ETFs on May 7, putting the first triple-margin XRP wrappers into a US-listed format. Jerome Powell exits as Federal Reserve Chair on May 15. The week of May 11 is the window Daodu flags for a potential Senate Banking Committee markup of the CLARITY Act under Chair Tim Scott.

The Senate's Memorial Day recess on May 21 is the hard deadline; if the bill doesn't clear committee by then, it slips.

Why it matters

The structure here matters more than any single date. XRP has spent much of the year trading on broad market beta, with a tape that takes its cues from Bitcoin rather than from token-specific flow. Daodu's read is that May is the first month in 2026 where the catalysts are stacked tightly enough to force a directional break out of the $1.

XRP Holds $1.39 Into May With CLARITY Act Senate Deadline And GraniteShares 3x ETF Launch In Focus

What happened

Why it matters

Market impact

What to watch

Disclaimer

Key takeaways

Frequently asked

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