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10h ago

Senate Rebuff on CLARITY Act Sends XRP Below $1.30

The vote removes a near-term path to statutory crypto rules, raising short-term price risk for XRP as agency guidance and ETF inflows provide a partial regulatory floor

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Overview

  • The U.S. Senate failed to invoke cloture on the Digital Asset Market CLARITY Act on Sept. 16, and XRP fell about 8–10% to roughly $1.27–$1.30 after the result.
  • CoinGlass data show about $40 million of XRP positions were liquidated during the drop, with more than 95% of those liquidations coming from long trades.
  • The Federal Reserve’s 25 basis‑point rate increase contributed to broader crypto weakness and weaker risk appetite that amplified XRP’s technical selloff.
  • SEC and CFTC commission-level interpretations issued in March that treat XRP as a digital commodity remain in force and, together with roughly $1.7 billion in cumulative net inflows to U.S. spot XRP ETFs, give the token a regulatory and institutional demand floor.
  • Key near-term watch points are whether XRP holds $1.28–$1.30 support, how agencies or courts act without new legislation, and whether ETF and institutional inflows sustain demand to stabilize the market.