XRP Slumps as Senate Fails to Advance CLARITY Act
XRP suffered a significant decline in value after the US Senate failed to advance the Digital Asset Market CLARITY Act on Tuesday. The token's price dropped by over 8% in the past 24 hours, making it one of the worst performers among top cryptocurrencies.
The drop left XRP down more than 10% for the week, trailing behind Bitcoin and most other major coins. This shows how closely tied the token's price is to progress on crypto legislation in Washington.
Analyst Xaif Crypto noted that XRP's cumulative volume delta (CVD) plummeted to negative 10.5 million as the price dropped from around $1.46 to near $1.27. The analyst described the selloff as 'aggressive dumping, not just profit-taking.'
According to CoinGecko data, XRP is still up close to 29% over the past 30 days, despite this week's drop. However, it remains down more than 56% across one year and about 65% below its all-time high of $3.65 from July 2025.
Ripple CEO Brad Garlinghouse stated that his company 'has never been stronger' despite the CLARITY setback, emphasizing that the immediate price damage does not change XRP's legal position.