"4 May Variables Explode"...XRP, Crossroads Between Breaking $1.50 and Collapse

▲ XRP/AI Generated Image

XRP has entered a critical juncture that will determine its direction, as several key events converge simultaneously ahead of May.

NewsBTC reported on May 2 that XRP saw a rebound, rising approximately 9.4% throughout April, but still remains stuck in a narrow range.

Market analyst Sam Daodu presented four key events as variables that will move the price in May. Currently, XRP is trading between $1.30 and $1.45, showing a trapped trend without a clear direction.

The first variable is the TAS function of Coinbase derivatives, which was applied on May 1. This function enhances the efficiency of XRP futures trading, improving accessibility for institutional investors.

The second variable is the scheduled launch of GraniteShares' 3x leveraged XRP ETF on May 7. Leveraged products have the characteristic of significantly amplifying volatility once the market direction is set.

The third variable is May 15, which marks the end of Jerome Powell's term as Federal Reserve Chairman. This date was identified as a schedule that could affect the overall flow of risk assets in the market if expectations for interest rate cuts are reflected again.

The fourth and most crucial variable is the U.S. cryptocurrency market structure bill (CLARITY Act). The fate of this bill is expected to be decided before the Senate recess on May 21 and has been mentioned as a key catalyst for XRP's rise.

Daodu explained that “if the bill passes, billions of dollars in ETF funds could flow in,” emphasizing the possibility of institutional funds entering the market in earnest.

Price scenarios were also clearly presented. If the resistance of $1.45 to $1.50 is broken, there is potential for an upward movement to approximately $1.80, indicating a possible 30% rise. Conversely, if the $1.30 support level collapses, the structure could break down, opening up a downward path to $1.28, then $1.20, and even $1.17.

If the bill's passage is delayed, there is a possibility that XRP may not secure its own upward momentum and will remain dependent on Bitcoin's trend.

With May's schedule, regulatory variables, and institutional fund flows converging simultaneously, XRP has entered a critical phase where its short-term direction will be determined.

*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.*