XRP price rose from $1.3840 to $1.4065 in early Asian trading on May 4th on a sharp increase in trading volume, breaking through the $1.40 resistance level along with Bitcoin’s rebound above $80,000.
At the time of writing, XRP price is at $1.4018, up 0.04% since it opened early Tuesday in Asian trading.
On May 4th, XRP price broke through $1.40 for the first time in several days, in line with Bitcoin’s move above $80,000.
Standard Chartered analyst Geoffrey Kendrick predicted that the progress of the CLARITY Act in the Senate Banking Committee could unlock an additional $4 to $8 billion in inflows into XRP ETFs.
He also said that the midweek of May 11th is expected to be a key event that could break the supply barrier at $1.45.
The $1.45 level has pushed XRP prices back four times in 2026, including a brief spike to $1.50 on April 17 after Rakuten began accepting XRP payments for 44 million users in Japan.
Data from Glassnode confirms that approximately 36.8 billion XRP, equivalent to around 60% of the total circulating supply, is held at an average underlying cost of $1.44, forming a mechanical ceiling whenever the price approaches that level.
Traders are now watching to see if XRP can hold support at $1.40 and break through between $1.41 and $1.42, while a failure to hold $1.40 would signal a reversal of the breakout.
Standard Chartered lowered its 2026 XRP price target from $8 to $2.80 in February due to macroeconomic challenges, making the CLARITY Act trigger a key factor for any price reassessment this year.
The XRP spot ETF saw inflows of $81.63 million in April over a 20-day period before the inflows stopped on April 30, followed by a broader market recovery on May 4 that brought renewed buying interest.
