XRP leads majors losses as Clarity Act vote slips to September
XRP and other major cryptocurrencies saw losses as the U.S. Senate delayed the vote on the crypto Clarity Act until September. Market performance remains sensitive to upcoming U.S. economic data and regulatory uncertainty.
Why it matters
Legislative delays and macroeconomic indicators like inflation reports significantly impact investor sentiment and asset pricing in the digital currency sector.
XRP was the weakest major, down over 2% on the day to $1.02 and 5.5% over seven days. Solana fell over 1% to nearly $73 and is down almost 2% on the week. Dogecoin slipped almost 1% to under 7 cents and ether was flat at $1,897, down marginally over seven days. BNB held at $591 and is up 1% on the week. Hyperliquid's HYPE eased under 1% to nearly $56 but leads the majors over seven days at 1.3%.
The bill, which would set out which U.S. regulator oversees which digital assets, needs 60 votes to pass and it is unclear whether it currently has 50. Several Republican senators have said publicly they oppose it, and Democrats want stricter rules preventing President Donald Trump from profiting from crypto while in office.
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