XRP Nears 52-Week Low as Senate Clock Ticks and xrpld Upgrade Approaches

XRP falls to $1.17 near 52-week low as network overhaul and CLARITY Act vote loom; ETF inflows pause but accumulation signals at record high.

XRP has slumped to within striking distance of its 52-week floor, changing hands near $1.17 after shedding roughly 12% in the past seven days. The token now trades 27% below its 200-day moving average of $1.61, with the relative strength index sliding to 34 — firmly in oversold territory. Yet beneath this bearish surface, two distinct catalysts are gathering momentum: a network overhaul that cuts the ledger’s ties to Ripple, and a US Senate vote that could cement XRP’s regulatory status once and for all.

Developers are putting the finishing touches on version 3.2.0 of the core software, slated for release in mid-June. The update rebrands the software as “xrpld,” severing its naming link to the company Ripple, while slashing node operators’ memory requirements by up to 40%. Ordinary token holders need take no action. Separately, the community is weighing an automated market maker upgrade that would introduce concentrated liquidity — the model that now dominates decentralized finance — though it requires approval from 80% of validators.

The XRP Ledger is also deepening its footprint in tokenized real-world assets. According to David Schwartz, one of the original architects, the platform is now home to more than $3 billion in tokenized value, with a pilot project involving JPMorgan pushing the envelope. Money-market funds and tokenized equities are expected to follow. Institutional appetite for the token itself remains robust: spot ETFs have accumulated $1.43 billion since their launch in November 2025, and May was the strongest month yet with net inflows of $132 million.

That uptrend in ETF flows hit a speed bump on June 3, when the funds recorded their first daily outflow of $5.34 million after five straight weeks of fresh money. Morgan Stanley, meanwhile, disclosed XRP ETF positions in its Q1 2026 13F filing, signalling that traditional finance is still circling the asset despite the price weakness.

On-chain data paints a contrasting picture. Over 25 million XRP have been pulled off exchanges in recent days — a classic accumulation signal. Santiment reports that the number of wallets holding at least 10,000 XRP hit a record 332,230, suggesting that deep-pocketed investors are buying the dip rather than fleeing.

The biggest wild card, however, is playing out in Washington. A coalition of more than 200 crypto firms — including Coinbase and Ripple — has sent an open letter to Senate Majority Leaders John Thune and Chuck Schumer, demanding a full floor vote on the CLARITY Act. “We haven’t come this far to give up on the five-yard line,” Senator Cynthia Lummis said of the bill, which cleared the Banking Committee on May 14 by a 15-9 vote and has sat on the Senate calendar since June 1. Treasury Secretary Scott Bessent, crypto adviser Patrick Witt, and Senator Tim Scott have all voiced support. The symbolic target for President Trump’s signature is July 4, 2026 — the 250th anniversary of American independence.

The CLARITY Act would split oversight of digital assets between the SEC and the CFTC, classifying cryptocurrencies that meet certain decentralization criteria as commodities under CFTC supervision. XRP is named explicitly in the text as a digital commodity, alongside Bitcoin, Ethereum, and Solana. Passage would permanently resolve the regulatory cloud that has dogged XRP for years.

Yet the legislative path is narrow. The Senate needs 60 votes under cloture rules, and only two Democrats backed the bill in committee. With nine working weeks left before the August recess, the clock is tight. Prediction markets reflect the uncertainty: Polymarket puts the odds of passage in 2026 at roughly 55%, while Kalshi gives a 37% chance of approval before the break.

The market’s positioning adds explosive potential. Short sellers outnumber longs by a ratio of nine to one, leaving the token vulnerable to a sharp squeeze if positive news breaks. Galaxy Research’s Alex Thorn sees a plausible road to a Trump signature by early August, provided the Senate votes in June and either aligns with the House version — which passed 294-134 in July 2025 — or moves quickly through a conference committee.

For XRP, the Senate vote is the defining event of the coming weeks. A failure to secure a floor vote before summer would leave the regulatory discount baked into the price. A successful vote would mark the formal end of years of legal limbo — and could trigger a dramatic reversal in a market that has priced in none of the optimism.