XRP Sinks as Senate Delays CLARITY Act Vote Amid Broader Market Weakness

XRP dropped by 2.2% to trade near $1.03 amidst broader market weakness and the U.S. Senate's decision to postpone the CLARITY Act vote until September, removing a near-term regulatory catalyst.

Binance saw an 8% rise in XRP open interest while spot buying demand dropped over 52%, with whales responsible for 81% of XRP outflows on Binance.

Grayscale's ETF rebalance included XRP alongside major tokens like Bitcoin and Ethereum, potentially signaling increased institutional interest.