XRP Slumps to $1.28 Following Failed Senate Cloture Vote on CLARITY Act
The price of XRP declined sharply after the United States Senate rejected a procedural motion to advance the crypto market structure bill known as the CLARITY Act.
XRP fell 9.4% over 24 hours and 10.7% on the week to trade near $1.28 after the U.S. Senate failed to invoke cloture on the CLARITY Act. The procedural tally ended 49 to 50, falling eleven votes short of the 60 required to open formal floor debate on the legislation, which was intended to establish statutory clarity for digital asset classifications.
The market downturn for XRP was substantially steeper than that of Bitcoin, which lost 1.2% over the same 24-hour window. Market participants had closely watched the bill given XRP's extensive legal history surrounding its regulatory status. Equities tied to the sector also experienced sharp pullbacks, with Coinbase falling 8.65% and Circle dropping approximately 11%.
Prediction market sentiment shifted rapidly alongside the legislative breakdown. On Polymarket, where $20.56 million had been wagered on the bill passing in 2026, odds fell from 90% earlier in the year to 5% post-vote. Kalshi maintained a 20% estimate for Senate passage before January 1, following a motion to reconsider submitted by Senator Thom Tillis.
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