XRP Loses Regulatory Catalyst, Traders Eye $1 Level as Buying Opportunity

XRP has lost its biggest short-term catalyst after the U.S. Senate pushed back the CLARITY Act vote to September 15, removing a major regulatory boost that XRP traders had expected in the near term.

This move has led to a drop in demand for XRP exchange-traded funds (ETFs), with recent weekly inflows falling to about $1.01 million from $14.86 million previously.

The $1 level, which was once an important support level for the cryptocurrency, is now being tested as a potential buying opportunity. However, investors are cautious, and some experts believe that another decline could follow if XRP fails to hold this level.