XRP slides near $1 as Senate delays CLARITY Act vote

XRP fell 1.26% to $1.09 on Tuesday, slipping below the $1.10‑$1.12 range that had held since June and putting the token at risk of breaking the $1.07 support level that has historically steadied sell‑offs. The move coincides with Senate Majority Leader John Thune’s indication that the CLARITY Act – the bipartisan bill that would cement XRP’s commodity status – is unlikely to be voted on before the August recess, eroding the regulatory optimism that had buoyed the token.

Senate delay fuels regulatory uncertainty

The CLARITY Act, which aims to separate SEC and CFTC oversight of digital assets, has been the primary driver of XRP’s price outlook. Senate Majority Leader John Thune signaled that a final vote before the summer recess is improbable, pushing the bill’s timeline further into the legislative calendar【1】. Analysts at Galaxy Research cut the probability of the bill passing by 2026 to 30%, citing the shortened negotiation window and the need for additional Senate votes【1】. Without a clear regulatory pathway, market participants have reduced demand for XRP, contributing to the 1.26% price drop and a broader 1.42% decline in total crypto market cap to $2.18 trillion over the same period【1】.

Technical pressure and market context

XRP’s price broke below a rising channel after failing to sustain momentum above the $1.15 resistance, sliding through $1.12 and $1.10 levels【1】. The Relative Strength Index fell to 35.53, placing the token in a neutral zone, while the MACD showed growing bearish momentum【1】. Open interest in XRP derivatives fell 2.56% to $2.40 billion, and trading volume slipped 2.72% to $1.92 billion, indicating reduced speculative activity and a lack of new buying pressure【1】. On the broader market, Bitcoin’s price drifted toward $60,000, and a rising Treasury yield environment has prompted investors toward lower‑risk assets, further pressuring altcoins like XRP【2】.

XRP’s year‑to‑date decline

XRP has lost roughly 40% this year, falling from a January peak near $2.40 to just above $1.08 in July【2】. Despite Ripple’s operational wins—including a European license and new banking partnerships—and $1.48 billion flowing into spot ETFs, the token’s performance has been eclipsed by macro factors such as higher U.S. interest rates and the Iran‑related geopolitical risk that has driven investors into safer havens【2】.

What to watch

• $1.07 support – A confirmed break below this level could trigger a slide toward $1.04, a prior support point observed in late June.
• Senate calendar – The August 7 recess marks the last window for a floor vote; any further delay could push the bill’s fate into the 2027‑2028 timeframe.
• Bitcoin price – XRP’s trajectory remains linked to Bitcoin staying above $60,000; a breach could amplify the downward pressure on XRP.

The price action underscores how tightly XRP’s near‑term outlook is tied to regulatory progress. With the CLARITY Act stalled and macro pressures persisting, the token’s ability to hold the $1.07 floor will be the litmus test for whether regulatory hopes can still sustain its price.