Ripple News: XRP USD at Risk of Losing Key Support at $1
XRP trades near $1.03 as short positioning builds and spot demand weakens following news that the U.S. Senate delayed its CLARITY Act vote until September, which has had a negative effect on the Ripple chart.
According to market data from CoinGecko, the token recorded a near -2% 24-hour decline, with an intraday range of $1.0153 to $1.039, keeping its market capitalization near $64.7Bn. Trading volume stands around $1.4Bn against a circulating supply of 62.53 billion tokens.
Senate Majority Leader John Thune confirmed on August 7 that consideration of the CLARITY Act will resume after the August legislative recess. While the delay removes an immediate regulatory tailwind in the US, market participants are weighing this against Rippleโs reported full compliance in Crypto-Assets (MiCA) and Crypto Asset Service Provider (CASP) in Luxembourg.
Can regulatory clearance in Europe offset deferred US legislative timelines? Meanwhile, speculative chart projections circulating on social channels point toward targets at $7 and $27 by October 2026, though present market indicators reflect more realistic near-term consolidation.
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