XRP dropped 8% below $1.30 after Senate failed to advance the CLARITY Act; Ripple CEO maintains legal standing is unchanged while ChatGPT predicts consolidation between $1.25–$1.50.
Regulation & Gov ·
XRP fell more than 8%, sliding below $1.30 to mark a monthly low, after the US Senate failed to advance the CLARITY Act on September 15. The decline was accompanied by a cumulative volume delta drop to negative 10.5 million, indicating the move extended beyond routine profit-taking. Ripple's CEO stated that the company's business momentum and XRP's existing US legal standing remained unaffected by the legislative setback.
The regulatory environment for XRP, while delayed, is not necessarily deteriorated. The SEC and CFTC continue developing crypto rules under their current authority, and the token's legal position has improved significantly since the SEC lawsuit concluded. XRP-linked ETFs have accumulated over $1.7 billion in assets in under a year, establishing an institutional presence that predates the failed Senate vote.
Price scenarios outlined by ChatGPT suggest consolidation between $1.25 and $1.50 as the most probable near-term outcome while the market absorbs the vote. A recovery above $1.50 could trigger a retest of the recent $1.70 high, while deteriorating ETF flows and weakened momentum present a bearish case toward $1.20.