XRP Rebounds After Failed CLARITY Act Vote in the U.S.
The failed CLARITY Act vote and Fed rate hike briefly pressured XRP, but higher volume and whale activity helped it rebound quickly.
Key Takeaways
- XRP rose more than 7% in 24 hours to around $1.39 after earlier dropping to about $1.27.
- The sell-off followed the failed cloture vote on the CLARITY Act and a 25-basis-point rate hike from the Federal Reserve.
- Trading volume stayed high and whales came back, while XRP is still 62% below its all-time high.
XRP rebounded sharply this week after a double setback in the United States. The token rose more than 7% in 24 hours to around $1.39 (€1.21), after briefly falling to about $1.27 (€1.11) earlier. The move followed a failed vote on the CLARITY Act and the Federal Reserve's first rate hike since 2023.
Failed Vote Pressured XRP
The sell-off started after the U.S. Senate failed to pass the cloture vote on the CLARITY Act on September 15. That kind of vote needs 60 votes to end debate and move a bill toward a final vote. The 50 to 49 result meant the proposal for a federal framework for digital assets stalled.
XRP then dropped more than 8% and briefly traded around $1.27 (€1.11) to $1.28 (€1.12). A day later, more pressure came when the Fed raised rates by 25 basis points to a range of 3.75% to 4.00%. Moves like that often weigh on risk assets, and that matched the weak mood around the bill.
Trading and Whales Pick Up
The drop, however, did not last long. XRP was back around $1.39 (€1.21), while trading volume came in at nearly $3.9 billion (€3.4 billion), roughly in line with the 30-day average. That suggests the rebound was not just driven by thin trading.
Larger market players also showed up again. According to CryptoQuant, whale deposits to Binance hit a six-month high, while futures open interest moved back above the level seen before the failed vote. At the same time, the broader crypto market recovered too: Bitcoin, Ethereum, and Solana all posted solid gains, and the total altcoin market climbed to $222 billion (€194 billion), its highest level in eight months.
What This Means for XRP
For European crypto watchers, this mainly shows how sensitive XRP still is to U.S. regulation. The failed CLARITY Act vote renewed attention on a clear federal framework, while regulators like the SEC and the CFTC can also keep acting within their current powers under the present approach. That makes the regulatory picture for XRP and other tokens more important for now than any single price jump.
On the chart, traders are now mostly watching $1.41 (€1.23) as the level to hold. Some analysts also see a possible inverse head-and-shoulders pattern with a neckline around $1.55 (€1.35), but that still needs confirmation. XRP is still 62% below its all-time high, which shows that even after the rebound, the token is still far from a full recovery.
