XRP Holds Steady Near $1 Amid Senate Delay on CLARITY Act

XRP is trading near $1 after the US Senate postponed the vote on the CLARITY Act, which aims to clarify digital asset classification. The delay has tempered short-term optimism for XRP holders, but ongoing technical upgrades and Ripple's initiatives may drive longer-term growth.

Ripple recently raised $500 million to support enterprise adoption of its RLUSD stablecoin project and XRP Ledger improvements. However, the near-term price outlook for XRP remains uncertain due to regulatory clarity concerns.

Lawyer Bill Morgan suggests that XRP already meets the criteria to be classified as a digital commodity under the CLARITY Act, which could ease regulatory worries. In contrast, Matt Hamilton, a former Ripple developer relations lead, has expressed concerns about the potential decentralization risks of increasing the transaction memo field size on the XRP Ledger.