Crypto
XRP Price Tumbles Amid Senate Delay of CLARITY Act Vote
Ripple's XRP price is currently trading near $1.03 as the US Senate delays its CLARITY Act vote until September.
The delay has had a negative effect on Ripple, causing short positioning to build and spot demand to weaken.
XRP's market capitalization remains around $64.7Bn, while trading volume stands at approximately $1.4Bn against a circulating supply of 62.53 billion tokens.
The token recorded a near -2% 24-hour decline, with an intraday range of $1.0153 to $1.039.
Ripple's reported full compliance in Crypto-Assets (MiCA) and Crypto Asset Service Provider (CASP) in Luxembourg may offset the deferred US legislative timelines.