Tip: Try a valid symbol or a specific company name for relevant results XRP Drops 9% to $1.28 as the CLARITY Act Fails: What’s Next for the Coin That Needed It Most? The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading.
Coinbase pays us for certain activity generated through this link. Prices displayed are informational. On Monday, **XRP** (CRYPTO:XRP) surged 9.8% to $1.49, while Ripple CEO Brad Garlinghouse told the Senate that "the world was watching." However, two days later, the Senate failed to open debate on the CLARITY Act, and XRP fell to $1.28.
The coin dropped 9.4% over 24 hours and 10.7% over the week, while **Bitcoin** (CRYPTO:BTC) lost only 1.2%. This raises the question: was Tuesday's drop the full political adjustment for XRP, or just the first phase? **XRP Fell 7.8 Times Harder Than Bitcoin Because It Had More at Stake** Regulators ceased questioning Bitcoin's commodity status years ago. By contrast, XRP went through a five-year court battle over the same issue, which was ultimately settled without a statute backing it.
The CLARITY Act would have turned that legal clarity into a statute, making Tuesday's vote more critical for XRP than for any other major cryptocurrency. The Senate rejected cloture 49 to 50, eleven votes short of the 60 required. Cloture allows a bill to proceed to the floor for debate.
Therefore, passing it would have only initiated discussion. After the vote, selling was orderly. Funding on XRP perpetual futures had already turned negative before the vote, indicating shorts had anticipated a failure.
Coinbase ended down 8.65%, and Circle about 11%, both more affected than XRP, as the bill's passage was crucial to the exchanges' market structure. **Polymarket Odds Dropped from 90% in February to 5% After the Vote** How do you continue to grow a seven-figure portfolio in retirement? The last thing you want is to run out of money, you want your money to generate lasting income while you enjoy your life. Learn seven strategies high net worth investors use with new report: The Seven Secrets of High Net Worth Investors from Fisher Investments.
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