Crypto
XRP Price Hinges on CLARITY Act Passage by September 15
XRP price has been hovering around $1.059 after holding above the crucial $1.00 psychological support level.
The XRP price traded around 1.8% higher, but weekly performance remained negative due to recent selling pressure.
The recovery reflects improving cryptocurrency sentiment as Bitcoin reclaimed $65,000 and ETH price remained above $1,900.
The CLARITY Act, which aims to establish more explicit oversight boundaries between the Securities and Exchange Commission and Commodity Futures Trading Commission, faces a key September 15 test in the Senate.
Zach Pandl, Grayscale research chief, added that the chances of the CLARITY Act passing this year appear low due to election-year politics and the Senate calendar.