XRP
XRP underperforms amid delay to Digital Assets Market Clarity Act vote
XRP has been the worst performer among top-ten cryptocurrencies this week as hopes fade that the Clarity Act—legislation that would formally classify XRP as a commodity—will reach a vote before year-end.
XRP is trading at $1.0282, down 4.96% over seven days and lagging even a flat broader market. The underperformance reflects cooling sentiment around the Digital Assets Market Clarity Act, which would establish the first formal legal framework for crypto assets in the United States and crucially classify XRP as a digital commodity, removing regulatory ambiguity that has deterred institutional adoption for years.
The Senate was unable to vote on the bill before the August recess, dashing expectations for 2024 passage. Although Majority Leader John Thune filed cloture late last week, locking in a procedural vote for 15 September, analysts view 2026 odds as a long shot given Democratic opposition and the 60-vote threshold needed to clear the filibuster. This contrasts sharply with late July, when reports that President Donald Trump would accept the bill's stalled ethics provision sent Polymarket odds of passage from 32% to 43% and triggered a broad rally.
The technical picture reinforces the retreat. XRP has logged lower highs and lower lows for weeks, bleeding from near $1.3 in late June to its current level just above the $1.0128 swing low. A death cross remains in place on the daily chart—a bearish signal that continues to weigh on trading. A brief pop to $1.15 on 21 July failed immediately and reversed, now appearing as a bull trap rather than the start of a sustainable move upward.
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