XRP Trades Soft as Ripple Urges Senate to Support Clarity Act
XRP traded soft as the token price slid 2.19% to $1.09 on Thursday, underperforming a slightly weaker broader market, due to a lack of conviction in spot buying and a technical rejection at key resistance.
Broader market weakness and technical resistance, as XRP moved in sync with Bitcoin’s 1.42% drop but failed to hold above the $1.12–$1.13 level.
The total crypto market cap fell 1.44% in 24h, with Bitcoin down 1.42%. XRP’s 2.19% drop indicates it moved with the macro-driven weakness but underperformed.
Technically, price was rejected at the $1.12–$1.13 resistance zone and is trading below the 50-day Exponential Moving Average near $1.15, confirming selling pressure.
The move lacks a specific negative catalyst; it’s primarily a risk-off drift within a consolidating market. Bitcoin’s ability to hold $64,000 could be tested, as further weakness in BTC could pressure XRP lower.
Trading volume fell 18.61%, indicating a lack of buyer conviction. Without a fresh catalyst, XRP is susceptible to broader market flows and technical positioning.
The immediate range is between support at $1.07 and resistance at $1.15 (the 50-day EMA). A confirmed daily close above $1.15 could target $1.20, while a break below $1.07 opens a test of the $1.05–$1.00 zone. The pending U.S. Senate vote on the CLARITY Act is a potential volatility trigger.
XRP’s decline reflects a combination of macro sensitivity and its own technical struggles within a tight range. Key watch: Whether selling volume accelerates on a break below $1.07, or if buyers step in to defend this level ahead of the CLARITY Act developments.
Ripple is intensifying advocacy for the CLARITY Act, a U.S. Senate bill to establish a clear digital asset regulatory framework. The company’s Chief Legal Officer warned that rejecting the bill would leave regulatory gaps that “bad actors” could exploit.
Signalling a strong tone from the top, US President Donald Trump met with GOP senators on July 16 to discuss advancing the legislation before Congress’s August 7 recess.
Ripple’s Co-Head of Global Public Policy & Government Affairs, Lauren Belive, said opposing the CLARITY Act is not opposing the crypto industry but is anti-consumer, as it will leave crypto holders exposed to bad actors exploiting regulatory arbitrage.
Belive said that the U.S. digital asset market already exists, but federal rules to protect consumers have not kept pace. She pointed out that the regulatory gaps that led to the FTX collapse and customer fund losses still exist today.
Belive stated that the CLARITY Act would grant the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) clear, shared jurisdiction over the digital asset market and require regulatory oversight before tokens enter the market.
Crypto analysts maintained that this is a critical regulatory development for XRP. Passage of the CLARITY Act would provide the legal certainty Ripple has long sought, potentially unlocking further institutional adoption and stabilising the asset’s regulatory standing in the U.S.
