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XRP Slumps After US Senate Rejects CLARITY Act

Guavy AI Editorial Team
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Ripple's XRP token fell to $1.28 on Wednesday after the US Senate failed to advance the CLARITY Act, a comprehensive market-structure regulation framework.

The bill, which aimed to provide clearer guidelines for digital assets, was voted down 49-50 on Tuesday, with all supporting votes coming from Republicans.

Cryptocurrency prices have been affected by the uncertainty surrounding the bill's fate and the upcoming Federal Reserve monetary decision.

XRP sellers retain control as it trades below key moving-average support, hinting that upside attempts could continue to fade beneath overhead supply.

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