Why XRP Was Hit Hardest After the CLARITY Act Senate Failure

Trading data pointed to aggressive selling, with XRP's cumulative volume delta plunging to negative 10.5 million. XRP fell about 8% over the past 24 hours, one of the worst showings among the top cryptocurrencies, after the US Senate failed to advance the Digital Asset Market CLARITY Act on Tuesday. The drop left XRP down well over 10% for the week, well behind Bitcoin and most other major coins, and it shows how closely tied the token’s price still is to progress on crypto legislation in Washington. The Selling Was Not Just Profit-Taking XRP’s price ran from around $1.46 per CoinGecko data to near $1.27, with analyst Xaif Crypto noting that its cumulative volume delta (CVD) cratered to negative 10.5 million as the price dumped. “Sellers aren’t hiding anymore, this is aggressive dumping not just profit taking,” they wrote on X. The selloff tracked the Senate vote almost exactly. Cloture on the bill, formally known as H.R. 3633, needed 60 votes and got 49. Every yes vote came from Republicans, and four of their own broke ranks to vote no. Furthermore, Senators Gillibrand, Warner, Booker, Warnock, Gallego, Alsobrooks, and Cortez Masto all voted no after months of talks, meaning no De...