XRP surged past $1.50 on Thursday as large holders increased their stakes and traders reacted to renewed momentum around the US Digital Asset Market Clarity Act (CLARITY Act).
Data from Santiment indicates that the asset’s biggest holders now hold more XRP than at any point in the last eight years. Wallets containing at least 10 million XRP collectively control about 45.83 billion tokens, with an approximate market value of $68.5 billion.
The Numbers Behind the Move
Santiment’s figures show these whales collectively possess roughly 68.5% of XRP’s circulating supply. That concentration is significant: when a small group of large holders controls such a large share of an asset, their conviction and activity tend to influence price action more than retail traders. Current behavior suggests these holders are positioning for a specific catalyst.
The most likely catalyst is the Digital Asset Market Clarity Act. The bill passed the US Senate Banking Committee on May 14 by a bipartisan 15-9 vote, advancing it to the next stage in Congress after months of delays. Market participants interpreted that progress as a positive regulatory development, prompting heightened buying interest in XRP.
The market reaction was immediate. XRP climbed more than 7% on the day, moving from roughly $1.43 to $1.54—a level last seen in March. Technical observers noted the move broke a descending pattern that had been developing since February, with near-term targets identified around $1.52 and $1.60.
Other analysts set more ambitious targets: some pointed to $1.80 as a meaningful level that XRP would need to reclaim and hold to confirm broader structural strength. Such commentary highlights that while short-term swings are possible, reclaiming higher levels as support would be an important validation of bullish momentum.
Institutional flows also reflected renewed interest. SoSoValue’s ETF data showed XRP exchange-traded products drew $18.52 million in net inflows for the day, outpacing inflows for Ethereum and Solana ETFs. That was a notable jump compared with $5.31 million on May 12 and flat flows on May 13.
Bitwise’s XRP product accounted for about $7 million of the inflows, while Canary Capital’s XRPC fund added $4.87 million. Total cumulative net inflows across all XRP ETF products have now reached approximately $1.37 billion, underscoring growing institutional participation.
XRP Cools After CLARITY Jump
At the time of writing, XRP traded near $1.46—up more than 5% over the past week and over 7% in the last 30 days—but still about 5% below the intraday high reached after the CLARITY Committee vote. The quick run-up and subsequent retracement reflect profit-taking and short-term volatility as markets digest the news.
One important risk to watch is rising leverage. Data indicates Binance’s estimated leverage ratio for XRP has climbed to its highest level in two months, around 0.179. Higher leverage can amplify price moves in either direction, making the market more sensitive to sharp swings and increasing the potential for rapid liquidations during sudden volatility.
In summary, the recent price strength in XRP has been driven by concentrated accumulation among large holders, positive regulatory developments tied to the CLARITY Act, and notable ETF inflows. While these factors support a bullish case, elevated leverage and rapid price movements suggest traders should remain attentive to volatility and manage risk accordingly.