XRP Drops 9% After CLARITY Act Fails in Senate
On September 16, XRP fell nearly 9%, dropping to $1.28 after the U.S. Senate failed to open debate on the CLARITY Act—a bill that would have provided regulatory clarity for cryptocurrencies like XRP. The failure of cloture by a vote of 49-50 left uncertainty over future legislative action, with ripple effects across crypto markets and exchanges. The CLARITY Act was particularly significant for XRP due to its ongoing legal battle with the SEC regarding commodity classification. While Bitcoin has long been recognized as a digital commodity without statutory backing, XRP’s status had only recently gained clarity through court settlements. The bill's failure means this settlement remains non-statutory and vulnerable to future regulatory shifts. Despite the drop, XRP still retains its legal standing with five live spot ETFs and $1.7 billion in net inflows as of September 2026. However, it has underperformed Bitcoin on recent rate decisions, raising concerns about whether this is a temporary setback or part of a broader trend.
Topics: CLARITY Act price drop regulatory clarity Senate vote XRP