Stalled Regs and Rising Yields Weigh on Bitcoin and XRP

Bitcoin and XRP are facing a challenging environment due to regulatory delays in the US. The SEC's innovation exemption and Reg Crypto fundraising rules have stalled, putting pressure on these cryptocurrencies.

The spot bitcoin ETFs have seen net outflows, reversing last week's inflows, which has increased the cost of holding non-yielding assets like Bitcoin. Rising U.S. Treasury yields are also a contributing factor to this challenging environment.

XRP is particularly vulnerable near key support levels due to these factors. Despite its 35% rise in active wallet addresses in August, XRP's price fell by 69% from its January peak of $3.30 to around $1 on August 13.