Ripple's XRP Token Faces Pressure as US Senate Delays CLARITY Act Vote

Ripple's XRP token is facing pressure from the US Senate's delay of its CLARITY Act vote, which has resulted in a near-2% decline over the past 24 hours.

The token's price has dropped to $1.03, nearing the key support level of $1, and market indicators show that daily momentum is skewed to the downside.

However, smaller negative histogram bars suggest diminishing downside momentum relative to earlier selloffs.

Despite the regulatory uncertainty in the US, Ripple has reported full compliance with Crypto-Assets (MiCA) and Crypto Asset Service Provider (CASP) regulations in Luxembourg, which could provide some offsetting support for the token's price.