XRP Tumbles as Senate Ditches Clarity Act Amid Federal Reserve Uncertainty

XRP's price has taken a hit following the U.S. Senate's decision to drop the Clarity Act, a move that adds to regulatory uncertainty for the cryptocurrency.

The Clarity Act, a crypto market-structure bill, was placed on the Senate Legislative Calendar after passing the Senate Banking Committee, but its removal from consideration has introduced uncertainty into the market.

The Federal Reserve's impending decision is also contributing to XRP's decline, as recent hawkish policies have been linked to declines across major digital assets, including XRP. These factors appear to be influencing current market pricing, which reflects increased caution.

Market activity indicates a low probability for XRP reaching higher price targets in the near term, with the likelihood of XRP reaching $3.00 by August 1, 2026 remaining extremely low.