2024

would

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 Another CLARITY Act delay is keeping uncertainty over the broader crypto market, but XRP has barely reacted.
 <a href="https://coincodex.com/crypto/ripple/" rel="noopener noreferrer nofollow">XRP traded near&nbsp;$1.40</a>&nbsp;while traders kept billions of dollars in derivatives positions open.
 That muted response matters because XRP already has something many major tokens still do not:&nbsp;a completed U.S. court battle that established important legal boundaries around how XRP sales are treated.XRP Already Fought Its Biggest Regulatory Battle 
 The CLARITY Act is designed to clarify how the SEC and CFTC oversee digital assets.
 But XRP enters that debate from a different position than most cryptocurrencies.
 Ripple and the SEC dismissed their appeals in August 2025, effectively ending the case that began in 2020. The final judgment left Ripple with a $125 million penalty tied to institutional sales, while the earlier ruling found that programmatic XRP sales on exchanges did not constitute unregistered securities offerings.
 Coinpaper’s breakdown of the&nbsp;<a href="https://coinpaper.com/10726/sec-vs-ripple-is-the-lawsuit-over" rel="noopener noreferrer nofollow">SEC vs Ripple case</a>&nbsp;explains why the end of the appeals process was such a major milestone.
 That does not make XRP exempt from future regulation. It does, however, give XRP a more developed U.S. legal backdrop than many competing tokens.
 Coinpaper also examined how the&nbsp;<a href="https://coinpaper.com/35165/xrp-faces-a-new-clarity-act-question-as-sec-builds-blockchain-market-rails" rel="noopener noreferrer nofollow">CLARITY Act could interact with XRP’s court precedent</a>.The Senate Delay Still Matters 
 The CLARITY Act remains important because it would create a market structure extending far beyond Ripple.
 A planned Sept. 15 procedural vote had been viewed as the next major milestone, but repeated delays have made the timeline increasingly uncertain.
 Coinpaper previously explained why the&nbsp;<a href="https://coinpaper.com/34987/could-the-september-15-clarity-act-vote-send-xrp-higher" rel="noopener noreferrer nofollow">Sept. 15 CLARITY Act vote</a>&nbsp;mattered for XRP, while the wider&nbsp;<a href="https://coinpaper.com/34056/clarity-act-heads-for-a-september-showdown-as-talks-stall-between-senate-democrats-and-republicans-whats-next-for-xrp" rel="noopener noreferrer nofollow">September showdown</a>&nbsp;shows how difficult the Senate path has become.
 If the Senate changes the House version, the House would also need to approve those changes before the legislation could reach the president.
 That makes the calendar increasingly tight ahead of the November elections.XRP’s Next Move May Depend More on Markets 
 For traders, the immediate risk may now sit less in Washington and more in leveraged positioning.
 Futures open interest remains around&nbsp;$3.15 billion, showing substantial speculative exposure around XRP.
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 <table>
 <tbody>
 <tr>
 <th>XRP market metric</th>
 <th>Latest</th>
 </tr>
 <tr>
 <td>XRP price</td>
 <td>~$1.42</td>
 </tr>
 <tr>
 <td>Market cap</td>
 <td>~$89.1B</td>
 </tr>
 <tr>
 <td>Futures open interest</td>
 <td>~$3.15B</td>
 </tr>
 <tr>
 <td>24h futures volume</td>
 <td>~$2.89B</td>
 </tr>
 <tr>
 <td>24h spot volume</td>
 <td>~$521M</td>
 </tr>
 </tbody>
 </table>
 </div>
 Large derivatives positions can amplify price moves if traders become crowded on one side.
 XRP’s legal backdrop also looks very different from 2024 or early 2025, when every SEC development could materially change expectations.
 The&nbsp;<a href="https://coinpaper.com/8128/sec-drops-appeal-in-ripple-case-xrp-surges-14" rel="noopener noreferrer nofollow">SEC dropping its Ripple appeal</a>&nbsp;was one of the clearest examples. The current CLARITY Act delay does not carry the same direct consequence.
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CLARITY Act Is Delayed, but XRP Already Has Something Other Tokens Don’t

Coinpaper.com

Other articles published on Sep 6, 2026

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