XRP Price Slides as Senate Drops Clarity Act and Fed Decision Looms
Crypto markets face a weak macro backdrop, with the Fed widely expected to hold rates but with some hike risk still priced in, which can pressure risk assets. Bitcoin is well below recent highs, and XRP is under additional strain after the Senate shelved the Clarity Act to focus on other legislation before the August recess. That bill matters because it could codify XRP’s commodity status, a key prerequisite for broader institutional adoption and ETF development. XRP trades around $1.06, far below its mid-2025 peak near $3.40, and its chart remains bearish: ADX is extremely low at 11.2, RSI is 40.9, and the 50-day EMA is below the 200-day EMA in a death cross. Near-term support sits around $1.01 and then $0.97. A dovish Fed statement could spark a bounce toward $1.10–$1.12, but without a macro or legislative catalyst, rallies look fragile.
