XRP Leads Major Losses as Clarity Act Vote Slips to September

The cryptocurrency market saw losses across major assets on Friday, led by XRP's decline of over 2% to $1.02 and a 5.5% drop over seven days.

Solana fell nearly 1% to almost $73, while Dogecoin slipped less than 1% to under 7 cents. Ether held steady at $1,897 but was down marginally over the week.

However, BNB bucked the trend with a 1% gain on the week and Hyperliquid's HYPE led the majors with a 1.3% increase over seven days.

The major driver of these losses appears to be the delayed vote on the Clarity Act in the Senate. The bill requires 60 votes to pass, but several Republican senators have expressed opposition, while Democrats want stricter rules preventing President Donald Trump from profiting from cryptocurrency.