XRP declined approximately 8% over 24 hours after the US Senate failed to advance the Digital Asset Market CLARITY Act on Tuesday, marking one of the worst performances among major cryptocurrencies. The token fell to around $1.27 from approximately $1.46, according to CoinGecko data.
The CLARITY Act, formally known as H.R. 3633, required 60 votes to proceed but secured only 49. All affirmative votes came from Republicans, with four Republican senators voting against it. Seven Democratic senators—Gillibrand, Warner, Booker, Warnock, Gallego, Alsobrooks, and Cortez Masto—voted no after months of negotiations, with no Democratic crossovers to support the bill.
The proposed legislation aimed to divide digital asset oversight between the SEC and CFTC and establish a new federal registration regime for exchanges, brokers, and dealers.
Selling Pressure
Analyst Xaif Crypto noted that XRP's cumulative volume delta fell to negative 10.5 million, indicating aggressive selling rather than profit-taking alone. At the time of writing, XRP traded near $1.28, down more than 8% in 24 hours and over 10% for the week.
Despite the weekly decline, XRP remained up approximately 29% over the past 30 days, though it is down more than 56% over one year and approximately 65% below its all-time high of $3.65 from July 2025.
Broader Market Impact
The wider cryptocurrency market also experienced pressure following the Senate vote. Bitcoin slipped approximately 2.0% to trade near $75,000, while Ethereum dropped close to 4% to trade just under $2,400. Bitcoin maintained above 56% of the total cryptocurrency market share.
Other cryptocurrencies showed varied responses, with Stellar declining nearly 9%, Solana losing over 4%, Dogecoin slipping 3.7%, and Hyperliquid falling more than 2%. BNB experienced minimal movement with a decline of less than 1%, while Zcash gained approximately 3%.
Ripple CEO Brad Garlinghouse stated that the company's legal position remained unchanged by the legislative setback and emphasized that his company "has never been stronger" despite the CLARITY Act failure.
