Crypto
XRP Tanks 9.4% as Senate CLARITY Act Vote Fails and Fed Rate Decision Looms
XRP plummeted by 9.4% in the past 24 hours to $1.28, marking its worst performance among major cryptocurrencies.
The decline is attributed to the Senate's cloture vote on the CLARITY Act, which failed with a 49-50 margin, leaving XRP's commodity status uncertain under U.S. law.
XRP had held its 200-day moving average at $1.355 for five consecutive sessions before dropping below it without a bounce, reaching an intraday low of $1.276.
The Federal Reserve is set to announce its interest rate decision at 2 p.m. ET today, with a 92% chance of a quarter-point rate increase, which could further impact XRP's price.