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XRP ($XRP) dropped 9.4% in 24 hours to $1.28 after the Senate failed to advance the CLARITY Act on Tuesday, the cloture vote falling 49 to 50, eleven short of the 60 needed.
That outcome hit XRP harder than any other major digital asset: Bitcoin lost only 1.2% over the same period.
The tension worth tracking is that the vote blocked a future statute but left intact a legal position XRP already holds. The case for viewing Tuesday as a contained repricing starts with how the market moved.
Funding on XRP perpetual futures had already turned negative before the vote, meaning the short side had priced in failure. When the result came, selling was orderly.
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