XRP Price Falls as Senate Delays CLARITY Act Vote

XRP's price dipped by approximately 2% to around $1.03 on August 7, as it struggled against selling pressure across major exchanges.

The token's market capitalization remained near $64.2 billion, while its trading volume was around $1.44 billion with a circulating supply of nearly 62.53 billion tokens.

The decline in XRP's price can be attributed to the Senate's decision to push consideration of the CLARITY Act beyond its August recess, removing an expected near-term regulatory catalyst.

Derivatives data shows traders leaning towards shorts, with Binance XRP open interest rising by about 8% while perpetual cumulative volume delta fell into negative territory.