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XRP Price Slumps After US Senate Shelves Clarity Act

Guavy AI Editorial Team Published July 29, 2026

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XRP

XRP's price dropped nearly 8% to $1.06 after the US Senate decided to shelve the Clarity Act, which aimed to clarify XRP's status as a commodity.

This development reduces the chances of new banking and ETF products based on XRP this year, potentially pushing potential progress to 2027.

The Federal Reserve is expected to hold interest rates steady on July 29, but a rate hike remains possible, which may impact cryptocurrency markets.

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