XRP Holds Steady at $1 as CFTC Steps In

XRP has maintained its price at $1 since the CLARITY Act's vote in July, despite reaching a peak of $3.65 on the same day.

The token's value has dropped by 72% from its peak and is now down 2.9% over the past week and 8.7% over the past month.

The CFTC has signaled it will not wait for Congress to pass the CLARITY Act, which aims to write XRP's legal status into federal law.

Ripple CEO Brad Garlinghouse sits on the CFTC committee meeting, along with other industry leaders. The SEC is also moving in parallel, voting on proposed crypto offering rules for token fundraising.