XRP Price Slumps Amid Clarity Act Uncertainty and Broader Market Weakness

XRP's price has dropped 1.26% to around $1.09 due to broader market weakness and uncertainty surrounding US crypto regulation.

The CLARITY Act, a proposed bipartisan bill aimed at defining regulatory responsibilities between the SEC and CFTC, is still in limbo as Senate Majority Leader John Thune indicated it's unlikely to receive a final vote before lawmakers begin their summer recess.

Supporters believe the legislation could improve regulatory clarity, strengthen institutional confidence, and encourage broader crypto adoption. However, disagreements over ethics provisions, stablecoin incentives, and other measures continue to slow progress.