XRP has been weakening for the past week, as the market digested two pieces of news simultaneously: the US Senate's temporary halt to the Clarity Act and the Federal Reserve's upcoming interest rate decision. Against the backdrop of declining risk appetite, altcoins as a whole came under pressure, with XRP experiencing a more pronounced drop.
As of the time of publication, XRP was trading around $1.06, down nearly 8% over the past seven days. The article also noted that Bitcoin was hovering between $63,400 and $64,000, below its June highs, indicating that the market remains cautious overall.
Senate postpones bill
The report indicates that the US Senate has temporarily shelved the Clarity Act, prioritizing sanctions against Russia and federal appointments. The Senate is expected to adjourn around August 7th, meaning the window for the bill to proceed this year is further narrowing.
For XRP, the significance of this bill lies in the fact that, if passed, it would enshrine XRP's commodity status within the legal framework. For custodians, banks, and ETF issuers, such clarity is often a prerequisite for launching related products. If the bill continues to be delayed, expectations surrounding the institutionalization of XRP will likely cool.
The Fed's decision dampened risk appetite.
Another suppressive factor comes from the macro level. The market is awaiting the Federal Reserve's interest rate decision on July 29. The report suggests that even if the Fed keeps interest rates unchanged, a hawkish tone could still continue to negatively impact risk assets.
In this environment, funds tend to remain on the sidelines, and more volatile crypto assets are more likely to be under pressure. XRP had previously risen briefly due to expectations of progress on the bill, but this sentiment has clearly cooled as the Senate agenda has changed.
Prices remain in a downward trend
From a price perspective, XRP has been in a downward trend since reaching a high of nearly $3.40 in mid-2025, with lower highs and lower lows appearing in recent months. Technical indicators cited in the report show that the current trend is weak, and the market lacks clear signs of a rebound.
- The current price is approximately $1.0641.
- The intraday range is approximately $1.0450 to $1.0679.
- Support levels to watch are $1.0125 and $0.9711.
The report suggests that XRP's future direction hinges on two key factors: whether the Federal Reserve's post-meeting stance softens, and whether the Clarity Act can make further progress before the recess. If neither catalyst materializes, the pressure on XRP may be difficult to alleviate significantly in the short term.
