XRP Price Plunges 11% on CLARITY Act Vote Fallout

The XRP price took a significant hit today after the U.S. Senate failed to advance the CLARITY Act, causing a sharp drop in value of over 11%.

XRP traded near $1.28, down from about $1.47 at the start of the session, with its market cap standing at $80.79 billion and 24-hour trading volume rising 41.2% to $6.49 billion.

The CLARITY Act's failure also triggered broader declines across major crypto assets, indicating a potential ripple effect on the overall market.