XRP Price Plunges on Corporate Selloffs and Regulatory Delay

XRP price has tanked on corporate selloffs and a delay in the Clarity Act, which would classify XRP as a commodity. The token is down 3.04% to $1.03 on Thursday, widening the gap between its market rate and the target set by crypto traders.

The main driver of this decline is a shift in institutional flows. U.S. spot XRP ETFs recorded a $3.58 million net outflow on August 5, their first negative session since July 8.

This removed a key source of buying pressure and delayed regulatory clarity. The Clarity Act was set to provide near-term regulatory support for XRP, but its delay has removed that catalyst.

Technically, XRP broke cleanly below the $1.05 support floor, which now flips to resistance. A hold or break of the $1.00 level is crucial in determining the next direction for the token.