XRP is under pressure again. The token has fallen for five straight sessions and now sits close to $1.01, a level traders have watched closely since late 2024.
The drop comes as a key U.S. crypto bill, known as the CLARITY Act, hits a rough patch in the Senate. That delay is weighing on sentiment across the market, and XRP is feeling it more than most.
The CLARITY Act would decide which U.S. agency oversees which digital assets. It needs 60 votes in the Senate to pass. Right now, it is not clear the bill even has 50.
Some Republican senators have publicly said they oppose it. Democrats, on the other hand, want tighter rules that would stop President Donald Trump from profiting off crypto while he is in office.
Trump reported more than $1 billion in income from crypto ventures in 2025, and that number has become a sticking point in talks.
Senate Majority Leader John Thune said a vote will happen in September. Lawmakers return on September 14, and they will have just three weeks to deal with the bill alongside government funding and a Russia sanctions bill. That is a packed schedule, and it leaves the crypto bill's fate uncertain for now.
Metric | Value |
Current Price | ~$1.01 |
24-Hour Change | -3.03% |
Market Cap | $63.61B |
24-Hour Volume | $1.48B (+16.96%) |
Distance from ATH | -73.51% (ATH: $3.84) |
Trading volume actually jumped nearly 17% even as the price fell. That usually means more people are active in the market, not fewer. It also suggests traders are reacting fast to the regulatory news.
The derivatives market tells a clear story right now. Long traders, those betting on higher prices, took the brunt of the pain.
Timeframe | Total Liquidations | Long Liquidations | Short Liquidations |
1 Hour | $1.53M | $1.52M | $2.83K |
4 Hours | $7.06M | $7.04M | ~$20K |
12 Hours | $9.16M | $9.13M | $27.79K |
24 Hours | $9.61M | $9.51M | $97.79K |
Nearly all of the liquidations over the past day came from long positions. This points to a classic long squeeze. Traders who bet on a bounce got forced out as the price kept sliding, and that selling pressure likely added to the drop.
On the daily chart, the altcoin is forming what looks like a symmetrical triangle breakdown. Resistance sits around $1.10 to $1.12, and it has been capping rallies for a while now.
If XRP fails to hold $1.00, the next stops could be $0.95, then the $0.85 to $0.88 zone. That area has acted as support before, so it may draw buyers back in if price gets there.
On the flip side, a move back above $1.10 to $1.12 would weaken the bearish case. That could open the door toward $1.20 and possibly $1.30, though nothing is guaranteed in either direction.
For now, the chart leans bearish. Unless it clears that resistance band, sellers appear to hold the upper hand.
The $1 mark is more than just a round number. It has repeatedly acted as a floor for XRP since November 2024. A clean break below it, especially on high volume, would be a notable shift in market structure.
Bitcoin and Ethereum have not shown the same kind of pullback yet, which makes XRP's move look somewhat isolated. Some traders are linking this directly to the CLARITY Act uncertainty rather than broader market weakness.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile, and prices can change rapidly. Always do your own research and consult a licensed financial advisor before making investment decisions.