XRP fell to $1.02 after the Senate postponed the Clarity Act, leaving its regulatory status unresolved until September.
XRP declined 2.05% to $1.02 over the past 24 hours, the only top-10 cryptocurrency to finish in the red. The drop follows the Senate’s decision to delay a vote on the Clarity Act, a bill aimed at defining regulatory oversight for digital assets, until at least September.
The delay complicates XRP’s rally thesis, which hinged on the bill’s passage to reclassify it as a commodity under CFTC jurisdiction. Other major cryptocurrencies, including Bitcoin and Dogecoin, posted gains, with Dogecoin rising 1.38%. XRP’s decline extends its weekly loss to 3%, making it the weakest performer among major tokens.
The Clarity Act’s draft provisions had proposed reclassifying XRP, Solana, and Dogecoin as non-securities, a shift Ripple has sought to resolve its long-standing legal battle with the SEC. The postponement leaves the token trading within a technical death cross, though prediction markets remain cautiously optimistic.