XRP Erases Rally Sparked by US Senate Crypto Bill as Market Eyes Commodity Status
XRP’s legal classification has long shaped its trading and regulatory risks. A cryptocurrency bill set for a vote in the US Senate could further establish XRP’s status as a commodity, determining whether it is overseen by the Commodity Futures Trading Commission or the Securities and Exchange Commission and putting the token in the market spotlight.
News of the vote briefly lifted XRP by 5%, but the token later surrendered all its gains and remained below a key resistance level. Derivatives trading activity rose markedly over the same period. Reports did not provide the bill’s name, the exact voting date, the resistance price or contract values, and the market is awaiting the Senate’s next steps.
All Coverage
1 original reportsThe Backstory
The history behind this eventXRP Leads Crypto Losses as Senate Delays Clarity Act Vote
The Crypto Clarity Act is viewed as a key step toward defining the US regulatory framework for digital assets, with investors looking to Congress for clearer rules governing the industry and token markets. Delays have prolonged policy uncertainty, leaving major cryptocurrencies sensitive to developments in Washington and putting added focus on XRP, whose outlook is closely tied to regulatory clarity.
The US Senate has confirmed that a vote on the legislation will not take place until after the September recess, weighing on market sentiment. XRP fell 5.5% over seven days, leading losses among major cryptocurrencies as traders reassessed the timing of regulatory progress. Bitcoin performed more steadily, fluctuating around the $64,000 level while investors awaited a revised vote schedule and further policy signals.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.
If you search news on Google, you can set Mark Radar as a preferred source—our coverage will show up more often in your results. Set as preferred source on Google →