XRP ended April with momentum, posting gains of roughly 9.4% over the month. But market watchers are eyeing a potentially larger move in May, as a confluence of catalysts aligns. According to market expert Sam Daodu, the altcoin remains trapped in a narrow consolidation range between $1.30 and $1.45 — a ceiling-and-floor setup that has kept prices muted.
Daodu points to unusual timing and stacked catalysts that could lift XRP to levels not seen since the start of the year. One key piece of US crypto legislation, if it progresses as expected, may serve as a primary trigger. The analyst suggests that a break above resistance could come faster than many anticipate.
A notable catalyst landed on May 1: Coinbase began Trading At Settlement (TAS) for XRP futures. The activation aims to support both nano XRP and full-sized futures contracts on Coinbase Derivatives. While TAS alone may not move XRP dramatically, Daodu says the change could make it simpler for larger US funds to build meaningful positions through regulated venues.
The implications are significant for traders who have watched XRP stagnate. A breakout above $1.45 could open the door to price levels last seen in January. However, failure to sustain momentum risks keeping the asset range-bound, testing the $1.30 floor as a support level.
Critics caution that regulatory uncertainty still looms, and bullish predictions have often been wrong-footed. The impact of legislative progress remains speculative, and XRP faces headwinds from broader market volatility.