XRP Price Slumps to $1.05 on Senate Delay of Clarity Act

XRP's price plummeted to an intraday low near $1.05 on July 28, after the US Senate delayed consideration of the Digital Asset Market Clarity Act, known as the CLARITY Act.

The bill aims to define how digital assets are regulated by drawing clearer boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

XRP investors had been monitoring the legislation closely due to Ripple's long-running legal battle with the SEC.

Although the proposal has not been rejected, the delay introduced fresh uncertainty over when lawmakers will address one of the crypto industry's most closely watched market structure bills.