XRP Price Slumps 11% as CLARITY Act Fails to Gain Traction

XRP's price plummeted by over 11% in a single day as the U.S. Senate failed to advance the CLARITY Act.

The bill, which aimed to increase transparency and oversight of stablecoins, did not gain enough traction to move forward.

This led to a sharp drop in XRP's value, with the price falling from around $1.47 at the start of the session to approximately $1.28 by the end of it.

The market capitalization of XRP stood at $80.79 billion, while its 24-hour trading volume saw a significant increase of 41.2% to $6.49 billion.