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Three reasons why XRP price could bounce back to $1.60



$XRP price rose 6% to a three-week high of $1.42 on Thursday, becoming the strongest gainer among the top 10 cryptocurrencies by market cap.

According to data from crypto.news, $XRP ($XRP) price rallied to $1.42 on Thursday, April 16, with its market cap moving back above $87 billion and reclaiming the spot of being the 4th largest crypto asset in the market. The token still lies nearly 23% lower than where it began this year.

While hopes of de-escalation in the U.S. and Iran war have lifted the market sentiment, triggering a bounce across most crypto assets, $XRP price could specifically benefit from three catalysts over the coming sessions.

First, the most significant hurdle for $XRP has been regulatory ambiguity over its security status, a long-standing challenge that the CLARITY Act could solve. As such, the U.S. Senate Banking Committee is scheduled to mark up the bill for later this month.

The bill is important as if it clears this committee, it would formally codify $XRP as a digital commodity, moving it from permitted existence to protected legality. This would effectively remove the remaining litigation discount and provide a clear legal green light for major institutions to deploy capital.

Second, $XRP price stands to benefit from renewed institutional demand for the token while retail investors remain cautious.

Data from SoSoValue show that spot $XRP ETFs have recorded their fourth consecutive day of inflows for the first time since March, drawing in a combined $38.86 million within the period. This brings the combined assets under management for U.S. spot $XRP ETFs to over $1.25 billion.

Such steady accumulation from smart money often precedes a sharp move upwards when it absorbs the remaining supply of tokens held in exchanges, currently at multi-year lows.

Third, the toke

Three reasons why XRP price could bounce back to $

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