XRP Price Under Renewed Pressure as Senate Delays CLARITY Act Vote

The US Senate's decision to delay consideration of the Digital Asset Market Clarity Act has caused renewed pressure on XRP's price. The token fell from around $1.10 to an intraday low near $1.05 after Senate Majority Leader John Thune gave priority to a Russia sanctions package and federal nominations instead of bringing the CLARITY Act to the Senate floor.

The delay pushed any vote beyond Congress' Aug. 8 recess, removing what many market participants had viewed as a near-term regulatory catalyst for XRP. The legislation seeks to define how digital assets are regulated by drawing clearer boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission, an outcome many XRP investors have been monitoring because of Ripple's long-running legal battle with the SEC.

The reaction proved particularly sharp for XRP, with CoinGecko data showing the token sliding from roughly $1.10 on July 27 to nearly $1.05 during trading on July 28 before buyers gradually returned, lifting the price back toward $1.08 by July 29. Even after the rebound, XRP remained below the levels seen before the Senate's scheduling decision.

The CLARITY Act has become one of the most important crypto bills before Congress because it proposes a federal framework that assigns oversight responsibilities between the SEC and CFTC. Traders expecting quicker progress had increasingly viewed the legislation as a positive catalyst for XRP and other digital assets.

Despite the initial selloff, institutional demand remained relatively stable beneath the surface, with continued net inflows into US spot XRP exchange-traded funds helping absorb part of the selling pressure. The imbalance in liquidation data further illustrates how quickly sentiment changed, with approximately $4.25 million worth of XRP positions being liquidated during the past 24 hours.

From a technical perspective, XRP continues to trade inside a broader bearish structure despite recovering from Tuesday's low. The daily chart shows that XRP remains below its 20-day, 50-day, 100-day and 200-day exponential moving averages, which currently sit near $1.10, $1.13, $1.22 and $1.41, respectively.