XRP Slides as Senate Revamps Clarity Act and Fed Decision Looms

The cryptocurrency market has been experiencing a macro-driven retreat, with XRP price trading near $1.33.

The crypto market capitalization fell 1.47% over 24 hours to $2.61 trillion, while Bitcoin hovered at $76,709 and Ethereum held near $2,471.58.

Regulatory developments offered a counterweight, but the Fed decision kept traders cautious ahead of the Federal Reserve's meeting on September 15-16.

Senate Republicans have released an updated version of the CLARITY Act, which includes a requirement for non-decentralized DeFi protocols to register with the Commodity Futures Trading Commission (CFTC).

The draft also clarifies that credit unions may provide crypto-related services under regulatory standards.