Crypto longs lose $500 million as bitcoin slides to $78,000, SOL and XRP down 5%
Crypto longs face $500 million losses as Bitcoin slides to $78,000
CoinDesk1 min read
Massive XRP Network Surge Followed Price Rally to 2-Month Peak
TL;DR
XRP's network usage surged as its price reached a two-month peak of $1.55, driven by the progress of the CLARITY Act. Analysts noted increased long positions among investors despite the price not maintaining its momentum.
Key points
- XRP's price reached $1.55, its highest in two months
- Network usage surged alongside the price increase
- The CLARITY Act's progress positively influenced XRP's market perception
Mentioned in this story
RippleSEC
CLARITY Act
Although Ripple’s cross-border token couldn’t continue its run that began on Thursday, it still managed to result in an impressive peak for the overall usage of the ecosystem’s network.
Meanwhile, analysts noted that certain investors are “quietly buying long positions,” as the asset remains below the key 100 EMA line.
Network Usage Rocketed as Price Tried to Break Out
XRP’s price went on an impressive run on Thursday, most likely propelled by the progress of the CLARITY Act in the US. As reported, the long-anticipated bill passed the Senate Banking Committee, which was considered a major step in the right direction for the legislation to be signed into law.
Ripple’s token could be among the biggest beneficiaries of the bill, given its controversial history with the SEC and the lawsuit about its status as a security (or not). Consequently, its price felt a substantial uptick once the bipartisan vote went in favor of the bill, with 15-9, and XRP jumped from $1.42 to $1.55. This became its highest price tag in approximately two months.
This substantial increase also impacted the XRP Ledger’s activity, according to Santiment Intelligence. The analysts said this surge was “enough to help the network erupt to its highest level of on-chain activity since March.” Both active addresses and network growth reached levels not seen since March.
📈 The $XRP price surge above $1.54 for the first time in 2 months was enough to help the network erupt to its highest level of on-chain activity since March. The XRP Ledger just had its highest 24-hour period of:
🏃 Active Addresses (48,453: Highest Since March 30)
👶 Network… pic.twitter.com/iInHHdei5P— Santiment Intelligence (@SantimentData) May 15, 2026
It’s worth noting, though, that XRP was rejected almost immediately at $1.55 and dumped to its starting point, where it sits now as well. Santiment added that this activity spike is likely just general price FOMO, but explained that more transacting on a network is still a “key ingredient to mid- and long-term price growth.”
Someone Is Quietly Buying
Q&A
What caused XRP's price to rise to $1.55?
XRP's price increase to $1.55 was primarily driven by the progress of the CLARITY Act, which passed the Senate Banking Committee.
How did the CLARITY Act impact Ripple and XRP?
The CLARITY Act's progress is seen as beneficial for Ripple, potentially resolving its ongoing legal issues with the SEC regarding XRP's status as a security.
What is the significance of the 100 EMA line for XRP investors?
The 100 EMA line is a key technical indicator, and XRP remains below it, indicating that investors are cautiously buying long positions despite the recent price rally.
