Dogecoin

Passage

Wednesday

<h3 id="key-takeaways">Key Takeaways</h3><ul><li>XRP plummeted close to 10% to $1.30 following the Senate’s failure to pass the Clarity Act through a 49-50 procedural vote</li><li>Passage required 60 votes; several Republicans joined Democrats in opposition</li><li>Controversial ethics provisions regarding Trump administration officials’ cryptocurrency investments proved fatal to the bill</li><li>Publicly-traded crypto companies suffered steeper losses than digital assets — Coinbase plunged nearly 9%, Circle declined over 9%</li><li>Wednesday’s Federal Reserve interest rate decision compounded selling pressure across crypto markets</li></ul><p>XRP experienced a sharp decline of nearly 10% to $1.30 during Wednesday’s Asian trading session, marking it as the poorest-performing major digital asset. The steep selloff followed the collapse of the Clarity Act in the U.S. Senate, a legislative proposal intended to establish clearer regulatory guidelines for cryptocurrency markets.</p><figure id="attachment_210422" style="width: 100%" class="wp-caption aligncenter"><img class="size-full wp-image-210422" src="https://blockonomi.com/wp-content/uploads/2026/09/chart-20-3.webp" alt="xrp price" width="1824" height="1248"><figcaption id="caption-attachment-210422" class="wp-caption-text"><a href="https://www.coingecko.com/en/coins/xrp?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7" rel="noopener noreferrer nofollow">XRP Price</a></figcaption></figure><p>The procedural cloture vote concluded at 49-50, falling significantly short of the 60 votes needed to advance the legislation to floor debate. The bill missed the required threshold by 11 votes.</p><p>Despite spanning more than 600 pages of negotiated legislative text, the bill’s demise stemmed from ethics requirements designed to prevent high-ranking government officials from maintaining financial interests in cryptocurrency ventures during their tenure.</p><div class="embed-x"><blockquote class="twitter-tweet"><p>Today, the Clarity Act failed to advance in the Senate, a tremendous missed opportunity for American consumers, the digital asset industry, and U.S. competitiveness.</p><p>What it doesn't change: Ripple and <a href="https://x.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> stand on settled ground.</p><p>The Clarity Act may have fallen short, but the…</p><p>— Ripple (@Ripple) <a href="https://x.com/Ripple/status/2099970313622544397?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 15, 2026</a></p></blockquote></div><p>Michigan Democratic Senator Elissa Slotkin numbered among those opposing the measure. She characterized the ethics safeguards as insufficient, specifically referencing potential conflicts involving President Trump, members of his family, and Cabinet appointees with cryptocurrency holdings. Slotkin additionally expressed concerns about the CFTC’s inadequate staffing to implement enforcement and identified shortcomings in provisions addressing money laundering and terrorism financing.</p><p>Brad Garlinghouse, Ripple’s Chief Executive Officer, expressed disappointment over the legislative failure in a social media post, describing the outcome as one that “stings”—an unusually candid display from an executive typically known for diplomatic communications.</p><h3 id="publicly-traded-crypto-companies-suffer-steeper-losses">Publicly-Traded Crypto Companies Suffer Steeper Losses</h3><p>Though XRP posted the largest declines among cryptocurrency tokens, equity shares of crypto-related companies experienced even more severe downturns. Coinbase shares tumbled nearly 9% to $174.42. Circle stock declined more than 9% to $88.26. Galaxy Digital shares retreated 8% while Gemini lost 7%. Both Bullish and Riot Platforms recorded 5% decreases.</p><p>Ethereum dropped approximately 5% to roughly $2,410. Both Solana and Dogecoin registered losses near 5%. Bitcoin declined nearly 3% to slightly above $76,000, momentarily dipping below $75,000 before staging a partial recovery.</p><p>Cryptocurrency market intelligence platform Santiment observed on social media that whale-sized XRP wallets—those containing upward of 1 million XRP—had demonstrated elevated activity patterns before past significant price movements. According to Santiment’s analysis, 85 new wallets of this magnitude emerged merely two days prior to XRP’s 67% surge in August, indicating that major holders frequently position themselves ahead of substantial price fluctuations.</p><div class="embed-x"><blockquote class="twitter-tweet"><p><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> Still getting over that sudden +67% <a href="https://x.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> price breakout? The ledger’s millionaire wallets moved first. The chart shows 85 new 1M+ XRP addresses appearing just 2 days before XRP’s 67% breakout from Aug. 17 to Aug. 21.</p><p><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f40b.png" alt="🐋" class="wp-smiley" style="height: 1em; max-height: 1em;"> Million-plus wallets can absorb supply, deepen bids, and… <a href="https://t.co/5FxTFRKlUV" rel="noopener noreferrer nofollow">pic.twitter.com/5FxTFRKlUV</a></p><p>— Santiment Intelligence (@SantimentData) <a href="https://x.com/SantimentData/status/2099907756606308368?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 15, 2026</a></p></blockquote></div><h3 id="looking-forward">Looking Forward</h3><p>Following the Clarity Act’s failure, attention shifts to the SEC’s pending Reg Crypto framework and tokenized securities regulations as the primary avenue for achieving regulatory certainty. The next congressional session doesn’t commence until January 2027.</p><p>The Federal Reserve’s interest rate announcement scheduled for later Wednesday introduced additional market volatility. Market participants anticipated a quarter-point rate increase prior to the decision.</p><p>XRP’s position at $1.30 represents a crucial technical level. A 25 basis point rate hike from the Fed could drive prices down toward $1.21 or below. Conversely, an unchanged rate decision might enable XRP to establish $1.30 as a sustainable support level.</p><p>The post <a href="https://blockonomi.com/xrp-xrp-plunges-10-following-senates-rejection-of-crypto-clarity-act/" rel="noopener noreferrer nofollow">XRP (XRP) Plunges 10% Following Senate’s Rejection of Crypto Clarity Act</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.</p>

XRP (XRP) Plunges 10% Following Senate’s Rejection of Crypto Clarity Act

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