XRP Plunges 10% as US Senate Fails to Pass CLARITY Act

The US Senate's failure to pass the CLARITY Act led to a sharp sell-off in the cryptocurrency market, with XRP experiencing a significant drop.

XRP plummeted by approximately 10%, falling to around $1.30 as a result of the legislative setback.

The bill aimed to provide regulatory clarity for digital assets, but it was held up due to disagreements over ethics provisions and regulatory oversight.

As a result, market attention has shifted back to direct regulatory frameworks and macroeconomic conditions, leading to increased uncertainty for altcoins like XRP.