XRP Price Slumps as Senate Delays CLARITY Act Vote

The price of XRP has fallen under renewed pressure since July 27 after the US Senate delayed consideration of the Digital Asset Market Clarity Act. The legislation, also known as the CLARITY Act, aims to define how digital assets are regulated by drawing clearer boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The delay has introduced fresh uncertainty over when lawmakers will address one of the crypto industry's most closely watched market structure bills. This is particularly significant for Ripple investors who have been monitoring the legislation due to the company's long-running legal battle with the SEC.

Despite a rebound on July 29, XRP remains below the levels seen before the Senate's scheduling decision. The token has struggled to overcome its bearish structure and continues to trade below its key moving averages.