XRP Drops 8% as Senate Blocks CLARITY Act Progress

XRP declined by more than 8% following a US Senate vote that stalled the CLARITY Act, as reported by CryptoSlate. This price action coincided with a wider selloff affecting major cryptocurrency assets. The legislative hold delayed the implementation of a statutory market-structure framework for the United States.

Despite the procedural hurdle, the regulatory classification of XRP remains constant. Both the SEC and the CFTC continue to categorize the token as a digital commodity. Ripple indicated that the recent outcome leaves XRP’s current regulatory footing unaltered. The company also highlighted that the token retains a stronger position of legal clarity compared to a significant portion of the broader crypto market.

Investors have poured $1.71 billion into XRP ETFs to date. Market interest has since redirected from legislative developments toward ongoing agency rulemaking processes. Analysts are now monitoring whether these inflows can endure the price volatility triggered by the recent Senate action.