The coin rallied past $1.16 on optimism surrounding a crucial crypto bill, but quickly fell back down to $1.07 as institutional dynamics adjusted.
Why the Price DroppedCLARITY Act Delays: XRP fell when the U.S. Senate set aside the CLARITY Act—which would permanently classify XRP as a commodity—to clear a backlog of unrelated legislative nominations.
This caused its Polymarket passage probability to plummet from 82% down to 30%.
Hawkish Fed Pressure: The Federal Reserve held interest rates steady on July 29, 2026, with multiple officials actively pushing for a rate hike. This crushed hopes for near-term rate cuts, triggering a capital rotation out of altcoins.ETF Profit-Taking: Massive profit-taking and underperforming spot ETF inflows since the launch of $XRP
funds forced the token down to a deep multi-month low near $1.00.
#Xrp🔥🔥 #Write2Earn
Why the Price DroppedCLARITY Act Delays: XRP fell when the U.S. Senate set aside the CLARITY Act—which would permanently classify XRP as a commodity—to clear a backlog of unrelated legislative nominations.
This caused its Polymarket passage probability to plummet from 82% down to 30%.
Hawkish Fed Pressure: The Federal Reserve held interest rates steady on July 29, 2026, with multiple officials actively pushing for a rate hike. This crushed hopes for near-term rate cuts, triggering a capital rotation out of altcoins.ETF Profit-Taking: Massive profit-taking and underperforming spot ETF inflows since the launch of $XRP
funds forced the token down to a deep multi-month low near $1.00.
#Xrp🔥🔥 #Write2Earn