XRP at a Crossroads as Senate Punts on Clarity Act
The Senate delayed the Clarity Act until at least September, removing a key short-term catalyst for XRP. While most major crypto assets were flat or up, XRP was the weakest top-10 coin, falling about 2% on the day and 3% over the week. The token’s longer-term bull case depended on U.S. legislation defining it as a non-security and shifting oversight from the SEC to the CFTC. XRP trades near $1.03, just above the psychological $1.00 level, with a weak technical setup: a bearish downtrend, a death cross, price below both major moving averages, RSI at 35.9, and low ADX showing a trend that is weak but still downward. A close above $1.10-$1.13 would improve the chart, while a break below $1.00 could send XRP toward $0.9153, its lowest level since 2024.
