XRP Price Slumps After Senate Drops Clarity Act

XRP's price has taken a hit after the Senate dropped the Clarity Act. The cryptocurrency slipped to $1.06, causing traders to hold their breath for the next Federal Reserve decision.

The move echoes previous sharp price reactions to regulatory news in XRP. Traders are closely watching policy signals and volume spikes.

Technically, the bearish structure remains intact as XRP trades below both its 50-day EMA ($1.10) and 200-day EMA ($1.11). The MACD death cross at -0.01 and RSI at 33.71 indicate negative momentum.

XRP's price is currently within the Bollinger band, with lower support at $1.05 and upper resistance at $1.13. A test of the 50-EMA resistance remains a key level before any potential recovery in this volatile market.