XRP on Track for Commodity Status with Upcoming CLARITY Act Passage

Crypto market analyst Jake Claver believes that XRP is poised to obtain federal commodity status following the passage of the CLARITY Act in September. According to data shared on the X platform, XRP already meets the requirements to be considered a digital commodity under the new draft CLARITY Act.

The passage of the CLARITY Act will automatically grant XRP federal commodity status, unlocking large-scale institutional use and removing regulatory concerns that previously limited the asset's utility. The US SEC and CFTC collectively published a framework categorizing XRP as a digital commodity, which puts it under the same legal framework as Bitcoin and Ether.

The classification of XRP as a commodity will effectively formalize the removal of security uncertainty around the asset for investors and adoption. This is expected to pave the way for structured institutional offerings and ETF launches after next month, following the enactment of the CLARITY Act. The US Senate went on recess last week and will resume sittings next month, expected to vote on the CLARITY Act mid-September.

According to Claver, the approval of the CLARITY Act could solidify XRP's status as a commodity, draw massive long-term institutional fund inflows, eradicate regulatory uncertainty, and enable XRP prices to shoot up to the $100 level. The analyst's assertive conviction is grounded in the fact that XRP already meets the requirements to be considered a digital commodity under the new draft CLARITY Act.