XRP slid to $1.02 this week after the US Senate confirmed it would not vote on the Clarity Act before its August recess, pushing the token toward territory it hasn't traded in since earlier this year. The retreat, reported by U.Today, came as traders priced in another month of regulatory limbo for the crypto market structure bill many had hoped would clear the chamber this summer.
XRP's daily Bollinger Bands have compressed into what the report called an extremely narrow corridor — lower band at $1.0240, middle band at $1.0831, upper band at $1.1423 — a setup that has historically preceded sharp directional moves rather than continued drift. The weekly lower band sits further down at $0.9572, and the token has already lost its monthly middle line at $1.9605, a level that had capped the broader downtrend for months.
Why the vote slipped
The delay isn't a rejection so much as a scheduling casualty. Senate Majority Leader John Thune's office confirmed there would be no Clarity Act vote in August, but committed to one in September, when the chamber returns to Washington on September 14. If Thune files for cloture before senators leave town this month, the first procedural vote could come as soon as September 15; if he waits until the Senate reconvenes, the earliest date shifts to September 16. Either way, lawmakers will have only about 14 working days across September and October to resolve the unfinished disputes that have kept the bill — which already cleared the House 294-134 and advanced through the Senate Banking Committee 15-9 — from reaching the floor.
Related: Lummis Vows to Keep Pushing CLARITY Act After Senate Recess Miss
What traders are watching next
A technical rebound toward $1.0831 or $1.1423 remains possible without reversing the broader downtrend, according to the report. More bearish scenarios point to a slide into the $0.90-$0.95 zone, which some altcoin traders positioning for a breakout are already framing as a discounted entry point rather than a breakdown to fear. The freezing of institutional capital tied to the bill's fate until mid-September is the more immediate overhang: without regulatory clarity on the horizon, XRP's price action is likely to keep tracking legislative headlines as much as on-chain fundamentals.
A pattern crypto markets know well
This is not the first time a Clarity Act delay has coincided with a pullback in XRP and its peers — the bill has now missed multiple self-imposed deadlines since clearing the House over a year ago. Each slip has tightened the window lawmakers have left before the 2026 legislative calendar runs out, raising the stakes for whatever happens when the Senate reconvenes in mid-September.
