Alderoty: XRP Remains on 'Settled Ground' Despite CLARITY Act Vote Failure
Ripple's Chief Legal Officer Stuart Alderoty has stated that XRP remains on 'settled ground' despite the failed CLARITY Act vote. This refers to a 2023 federal court ruling and a joint interpretation by the SEC and CFTC in March, which designated XRP as a digital commodity.
Alderoty expects future rulemaking from regulatory agencies to provide clearer guidelines for the market. The comments come as the CLARITY Act faces difficulties in its legislative progress, but Alderoty's position is that XRP's status does not depend entirely on the bill's outcome.
Santiment has highlighted another development in XRP news, pointing to the behaviour of large XRP holders before the token's recent price move. The analytics platform reported that 85 new addresses holding at least 1 million XRP appeared two days before XRP recorded a 67% breakout between August 17 and August 21.
Whale trading activity on Binance and OKX shows different approaches among large traders, with Binance whales net buying spot XRP while simultaneously net selling their futures positions. Meanwhile, Coinbase whales were reported to be making smaller spot XRP purchases.