XRP Prices Plummet After CLARITY Act Delay

Senate Majority Leader John Thune confirmed on Thursday that the Digital Asset Market Clarity Act will not get a floor vote before the Senate's August recess.

The bill, which would have permanently classified XRP as a commodity under federal law, was seen as a key development for the token. The news sent XRP plummeting to a weekly low of $1.04 on August 6 and trading near $1.01 to $1.06 as of Friday.

XRP ETFs pulled in $131.94 million in May during the same stretch the bill was advancing through committee, but that figure had fallen to roughly $27 million by July. This month, inflows are running even thinner, with Bitwise's fund recording a $3.58 million outflow on August 5 alone.

The CLARITY Act delay has left XRP traders and investors uncertain about the token's future. Whether that holds through September depends largely on two things outside the token's control: ETF inflows finding a floor and a concrete follow-through of the bill being the 'first thing' on the agenda when the Senate reconvenes.