XRP Price Falls 2% as CLARITY Act Vote Delayed to September

The XRP price dropped by around 2% on August 7 as selling pressure continued to weigh on the token. This move came ahead of fresh US labor data, with $XRP trading near $1.03. The token's market capitalization remained steady at around $64.2 billion.

According to CryptoQuant analyst Amr Taha, Binance XRP open interest rose by 8% from August 4 to August 7, while perpetual cumulative volume delta fell. This combination indicates a shift towards fresh leveraged sell-side positioning.

The delay of the CLARITY Act vote in the US Senate has removed an expected near-term regulatory catalyst for XRP. The bill aims to provide statutory rules for determining when digital assets fall under SEC or CFTC oversight, but its passage is still uncertain.