XRP Price Takes 8% Hit After CLARITY Act Vote Failure
XRP's price took an 8% hit yesterday after the CLARITY Act vote failed in the Senate. The question now is whether $1.30 holds as a floor or turns into a ceiling for XRP. One possible scenario has the price retreating back to the psychological $1 mark, while another set of catalysts could just as easily reverse this trend.
The trigger was procedural, not fundamental, meaning it's tied more to regulatory uncertainty than any underlying value shift. On September 16, the CLARITY Act failed a critical procedural vote in the Senate, and crypto assets broadly sold off in response. Bitcoin dipped briefly below $75,000 before recovering, while Ethereum, BNB, and Solana each fell 3-5%.
XRP's decline was sharper, stretching past 9%, reflecting its outsized regulatory sensitivity. The stall extends XRP's gray-area status since its multi-year SEC litigation, even as Ripple pointed to a March 2026 joint SEC-CFTC interpretation affirming XRP's commodity status as grounds for confidence.
XRP trades at $1.28, down 8.01% over the past 24 hours, with trading volume up 41.6% to $6.65 billion as traders reposition around the broken $1.30 level. This level now flips from support to resistance on any retest.
The next directional catalyst is the Federal Reserve's rate decision, expected soon. A 25-basis-point hike would likely dampen risk appetite and send XRP toward the $1 support zone. An unchanged rate could allow XRP to reclaim $1.30. A surprise cut would open a path toward $1.70, though that outcome is unlikely given current Fed signaling.
XRP's market capitalization has dropped to $80.76 billion following this sharp sell-off, which erased the rally toward $1.48 earlier in the week.