XRP Slips Toward $1.00 as CLARITY Act Vote Hits Delay

XRP is showing signs of weakness as its price dropped about 2% over the last day to trade near $1.03. The decline follows news that Senate Majority Leader John Thune pushed the consideration of the CLARITY Act to September, removing a major legislative catalyst that traders were banking on for a price boost. As the immediate excitement fades, short positions are picking up momentum while spot demand stays quiet.

Technical indicators suggest a difficult road ahead for the asset. The price is currently hovering above the key $1.00 psychological support level. If that level fails to hold, the next support points sit at $0.97 and $0.85. On the upside, XRP would likely need to reclaim the $1.10 to $1.15 range to regain a more bullish structure. For now, the coin remains stuck in a tight range as the market waits for more certainty from Washington.

While social media platforms are filled with bold price predictions, current market data paints a more cautious picture. With the probability of the CLARITY Act passing this year falling on prediction markets, traders are keeping a close watch on incoming labor data for clues on market direction. The asset remains anchored by a market cap of roughly $64.2 billion, but until legislative gridlock clears, the current downside bias may persist.