XRP Plunges 9% as Senate Rejects CLARITY Act

XRP's price fell by 9% to $1.28 after the U.S. Senate rejected the CLARITY Act, a bill crucial for establishing XRP's legal standing.

The act's failure has significant implications for Ripple Labs, which is embroiled in ongoing legal battles with the SEC over whether XRP should be classified as a security.

Market data shows that the probability of XRP reaching key price targets this month has decreased. The odds of XRP hitting $3.00 in September are now at 1.3%, down from an unspecified previous level.