XRP Prices Rebound After Failed Senate Vote
XRP saw its price jump after the Senate's failed vote on the CLARITY Act. The bill would have locked in regulatory clarity for XRP, making it a commodity under law. However, without this permanent solution, the cryptocurrency still trails its peers.
The price of XRP rose from $1.25 to $1.58 after the Senate's 49-50 vote against the CLARITY Act. This rebound was driven by short position closures, not new buyers. The price is currently above where it began a month ago but still lags behind its peers.
Despite this setback, XRP had some positive developments during the month. Stripe incorporated XRP into its agent payments and RLUSD surpassed $2.4 billion in circulation. However, these achievements are contingent on approval from agencies and companies.