XRP’s price fell sharply by 9% to $1.28 following the U.S. Senate’s rejection of the CLARITY Act. This legislative measure was crucial for establishing XRP’s legal standing against the Securities and Exchange Commission. Ripple Labs is engaged in ongoing legal battles over whether XRP should be classified as a security. Market data indicates that the probability of XRP reaching $3.00 in September stands at just 1.3%. The rejection reinforces concerns about regulatory hurdles facing XRP and similar digital assets.
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