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XRP CLARITY Act: Senate Returns April 13

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After sharp drops in BTC, ETH prices, the next move for XRP is becoming crucial - 1

XRP is holding at $1.34 as traders await Senate action on the XRP CLARITY Act, with Congress returning from Easter recess on April 13 and a Banking Committee markup expected in the second half of the month.

Summary

  • XRP is trading in a tight $1.34 to $1.35 range with modest 0.8% to 1.0% gains over 24 hours.
  • The Senate Banking Committee markup of the CLARITY Act is targeted for the second half of April.
  • Analysts say passage could unlock $4 to $8 billion in additional XRP ETF inflows, per Standard Chartered.

XRP has been in a holding pattern on April 10, trading between $1.34 and $1.35 as institutional investors wait for the US Senate to act on legislation that could permanently define XRP’s regulatory status. The next window opens April 13.

According to FX Leaders, XRP held between $1.33 and $1.35 on April 10, posting modest gains of 0.8% to 1.0% over the prior 24 hours. The range trade reflects a market waiting for a binary legislative outcome rather than responding to technicals.

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The Senate returns from Easter recess on April 13, with the Banking Committee markup of the CLARITY Act targeted for the second half of the month. As crypto.news reported, Polymarket currently gives the bill roughly a 63% to 66% probability of becoming law in 2026. Senator Bernie Moreno has warned publicly that missing the May window risks pushing the legislation off the calendar for the rest of the year.

What the CLARITY Act Means for XRP

The CLARITY Act would formally define XRP as a digital commodity under US law, giving banks and large asset managers the legal certainty they need to commit capital at scale. Standard Chartered analyst Geoffrey Kendrick has projected that Senate Banking Committee advancement could unlock $4 to $8 billion in additional XRP ETF inflows.

Seven US spot XRP ETFs already pulled in $1.44 billion since launching between September and December 2025, without the CLARITY Act as law. With formal legislation in place, analysts say institutional capital currently sitting on the sidelines would have permanent legal cover to enter at scale.

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The Clock Is Narrowing Fast

Ripple CEO Brad Garlinghouse has already pushed his expected passage timeline from the end of April to the end of May. As crypto.news noted, TD Cowen and multiple legal analysts have warned the bill could slip off the congressional calendar entirely if it does not clear the Senate before summer, with midterm election dynamics making a post-August push nearly impossible.

Treasury Secretary Scott Bessent has publicly urged Congress to act, writing in a Wall Street Journal op-ed that “Senate floor time is scarce, and now is the time to act.” For XRP traders, the $1.34 floor may hold until the Senate shows its hand.

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Crypto World

Bitwise Added Ticker $BHYP and a 0.67% Management Fee In Its Latest Filing

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Bitwise Added Ticker $BHYP and a 0.67% Management Fee In Its Latest Filing

Bitwise Asset Management has reportedly taken a key step toward launching its proposed spot Hyperliquid exchange-traded fund, filing a second amendment with the US Securities and Exchange Commission.

In an X post on Friday, Bloomberg senior ETF analyst Eric Balchunas highlighted that Bitwise had updated its Hyperliquid ETF to include the ticker $BHYP and had also set a management fee of 0.67% (67 basis points).

According to Balchunas, the filing of these details generally indicates that the product will “launch soon.”

“HYPE is up 200% in the past year,” he said, adding that the firm was likely “trying to strike” while the iron was “hot.”

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The filing comes amid competition from other asset managers vying to launch the first spot ETF tied to the crypto perpetual futures protocol and blockchain, with Grayscale and 21Shares also pushing for similar products of their own.

Bitwise was the first of the three to submit a Hyperliquid ETF filing with the SEC in September. 21Shares followed a month later with its own, while Grayscale submitted its filing in late March.

Source: Eric Balchunas 

If approved, Bitwise’s ETF will trade on the NYSE Arca stock exchange and offer investors exposure to the spot price of Hyperliquid.

In the firm’s first filing amendment from December, Bitwise also indicated that the fund would seek to generate additional returns from HYPE staking — something Grayscale and 21Shares haven’t explicitly indicated their funds would do.

Hyperliquid continues to gain traction

According to data from CoinGecko, the price of HYPE is up 65% since the start of 2026 to around $41.96 at the time of writing, despite a tough start to the year for the broader crypto market. Over 12 months, the price of HYPE is also up about 182%.

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Related: BlackRock Bitcoin ETF sees $269M inflows, best day since early March

Alongside a strong token performance, blockchain analytics platform CoinGlass reported in early April that Hyperliquid had broken into the top 10 crypto derivatives platforms by volume, joining the likes of Binance, OKX and Bybit.

During Q1, Hyperliquid generated $492.7 billion in trading volume, putting it shy of ninth-placed Coinbase by about $90 billion.

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