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<p style="text-align: justify">XRP fell sharply by nearly 10% to $1.30 during Wednesday’s Asian trading, leading declines among major digital assets after the US Senate narrowly rejected the Clarity Act, a bill that aimed to provide clearer regulatory guidelines for cryptocurrency markets.</p><h2 id="clarity-act-fails-in-senate-vote">Clarity Act fails in Senate vote</h2><p style="text-align: justify">The procedural vote on the Clarity Act ended with 49 senators in favor and 50 against, falling 11 votes short of the 60 required to move the bill to floor debate. The legislation, which stretched over 600 pages, was hampered by contentious ethics provisions that would have restricted senior government officials from holding financial interests in cryptocurrency during their time in office.</p><p style="text-align: justify">Several Republicans joined most Democrats in opposing the measure. Among those voting against the bill was Michigan Democratic Senator Elissa Slotkin, who criticized the ethics provisions as inadequate. Slotkin raised concerns about possible conflicts involving President Trump, his family, and senior Cabinet members with crypto holdings. She also questioned whether the Commodity Futures Trading Commission had enough staff to enforce new rules and flagged shortcomings in anti-money laundering and counter-terror financing measures.</p><p style="text-align: justify">Ripple, the US-based blockchain company behind XRP, responded to the bill’s failure on social media, emphasizing that Ripple and XRP remain on “settled ground” despite the setback. Brad Garlinghouse, Ripple CEO, described the outcome as disappointing, noting that the missed opportunity “stings.”</p><blockquote><p>Brad Garlinghouse expressed rare candor after the vote, voicing disappointment that the Senate failed to advance the Clarity Act and calling it a missed chance for the digital asset industry and US competitiveness.</p></blockquote><h2 id="crypto-company-stocks-decline-sharply">Crypto company stocks decline sharply</h2><p style="text-align: justify">Crypto-related equities experienced even steeper declines than digital assets. Shares of Coinbase, a leading US-based cryptocurrency exchange, dropped nearly 9% to $174.42, while stablecoin issuer Circle saw its stock fall over 9% to $88.26. Other major players, including Galaxy Digital, Gemini, Bullish, and Riot Platforms, also registered losses ranging from 5% to 8%.</p><p style="text-align: justify">Among cryptocurrencies, <a href="https://en.coin-turk.com/crypto-analyst-warns-of-short-term-correction-in-ethereum-and-solana/" rel="noopener noreferrer nofollow">Ethereum</a> lost about 5%, trading near $2,410. Solana and <a href="https://en.coin-turk.com/dogecoin-captures-spotlight-through-strategic-moves-and-price-surge/" rel="noopener noreferrer nofollow">Dogecoin</a> also fell around 5% each. <a href="https://en.coin-turk.com/dive-into-bitcoins-triumph-as-etfs-surge/" rel="noopener noreferrer nofollow">Bitcoin</a> briefly dipped below $75,000 before recovering slightly, closing the session nearly 3% lower at just over $76,000.</p><table style="border:1px solid #f1e4d8;padding:8px"><thead><tr><th>Asset/Company</th><th>Price after drop</th><th>% Change</th></tr></thead><tbody><tr><td>XRP</td><td>$1.30</td><td>-10%</td></tr><tr><td>Coinbase</td><td>$174.42</td><td>-9%</td></tr><tr><td>Circle</td><td>$88.26</td><td>-9%</td></tr><tr><td>Ethereum</td><td>$2,410</td><td>-5%</td></tr><tr><td>Bitcoin</td><td>$76,000</td><td>-3%</td></tr></tbody></table><p style="text-align: justify">Market intelligence platform Santiment noted that whale-sized XRP wallets holding more than 1 million XRP showed increased activity prior to significant price movements. Santiment reported that 85 such wallets appeared just two days before XRP’s 67% rally in August, suggesting that major holders often position themselves ahead of substantial market changes.</p><p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Santiment, a blockchain analytics platform, tracks cryptocurrency wallet activity and on-chain data to detect unusual trading patterns and investor behavior.</p><h2 id="regulatory-outlook-and-market-volatility">Regulatory outlook and market volatility</h2><p style="text-align: justify">With the Clarity Act’s failure, attention in US crypto regulatory circles has shifted to the Securities and Exchange Commission’s pending Reg Crypto framework and forthcoming rules on tokenized securities as the next expected steps for clarity. The next opportunity for major legislative action will not arise until the new congressional session opens in January 2027.</p><p style="text-align: justify">Meanwhile, anticipation ahead of the Federal Reserve’s interest rate decision added further volatility to the market. Traders expected a 25 basis point increase, which could put additional pressure on digital asset prices. XRP’s current $1.30 level is seen as a key area of support. If the Fed hikes rates, analysts anticipate that XRP could fall toward $1.21, while a steady rate could help solidify $1.30 as a base.</p><blockquote><p>Ripple stated that despite the legislative setback, Ripple and $XRP maintain established legal and business foundations, emphasizing continuity for both the firm and token holders.</p></blockquote><p>The post <a href="https://en.coin-turk.com/xrp-drops-10yuzde-to-1-30-after-us-senate-rejects-clarity-act/" rel="noopener noreferrer nofollow">XRP drops 10% to $1.30 after US Senate rejects Clarity Act</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

XRP drops 10% to $1.30 after US Senate rejects Clarity Act

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