XRP falls nearly 8% in a week amid legislative setback and looming Fed rate decision pressures.
XRP slid to $1.06, down nearly 8% over the past week, as the U.S. Senate shelved the Clarity Act ahead of its August recess. The delay removes a key legislative catalyst that briefly lifted the cryptocurrency earlier this month.
The coin had rallied to $1.1485 on July 21 after reports suggested progress on the Clarity Act, but optimism faded when the Senate prioritized other bills. Technical indicators remain bearish, with a death cross, RSI at 40.9, and a composite score of -63%.
Markets are also bracing for the Federal Reserve’s July 29 rate decision, with CME FedWatch showing a 38% chance of a hike—the highest this cycle. Bitcoin hovers near $63,400–$64,000, well below its June peak of $80,000, as macro pressures weigh on risk assets.