XRP Hangs Near $1 as Senate Delays CLARITY Act Vote

XRP is hovering just above the psychologically important $1 support after the U.S. Senate delayed a vote on the CLARITY Act, which would provide clearer criteria for whether digital assets are treated as 'securities' or 'commodities'. The delay has added to an already weak short-term trend in XRP's price.

The XRP Ledger community is advancing proposals aimed at making the network more attractive for regulated, institutional use. One such proposal includes a feature called Confidential Transfers, which would use zero-knowledge proofs (ZKPs) to obscure balances and transaction amounts from public view while allowing selective disclosure to authorized parties.

Ripple has also raised $500 million in funding at a $40 billion valuation, which is expected to support expansion of its enterprise blockchain infrastructure and development around RLUSD, Ripple's U.S. dollar stablecoin initiative.