The U.S. Senate failed to advance the CLARITY Act on September 15 during a procedural vote of 49-50, short of the 60 votes required. This legislative setback triggered a nearly 10% drop in XRP toward $1.30 and Bitcoin below $76,000, with over $300 million in leveraged positions liquidated within minutes. Markets now price in a 92.5% probability of a 25-basis-point rate hike, bringing the federal funds rate to a range of 3.75% to 4.00%. Republican Senator Thom Tillis stated he will continue working to advance the legislation, whose passage odds in 2026 dropped from 30% to 5% on Polymarket. Traders will closely watch Kevin Warsh’s tone during his press conference: a hawkish stance could deepen losses, while a softer tone could support Bitcoin around $74,000-$75,000 and stabilize XRP above $1.30.
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