XRP holds near $1.10 as Senate delays CLARITY Act vote before recess

XRP traded around $1.10 as the U.S. Senate's CLARITY Act remained off the floor schedule and prospects for completing action before the Aug. 7 recess dimmed further, even as institutional support for the bill broadened and Senate leaders signaled work could extend beyond the break. Coinbase CEO Brian Armstrong had already intensified pressure for a vote, and BlackRock has now publicly backed the legislation, with global markets development head Samara Cohen calling it "an important step" toward an investor-first digital-asset regulatory framework. The bill would split digital-asset oversight between the SEC and CFTC and establish disclosure and registration pathways for parts of the industry. Senate Republicans released updated text on July 22 reflecting negotiations by the banking and agriculture committees, with a section-by-section summary describing disclosure standards, registration requirements, anti-fraud provisions and expanded anti-money-laundering obligations for digital-asset market participants. The measure still faces a crowded Senate calendar, the 60-vote threshold for contentious legislation and unresolved negotiations over ethics provisions involving senior officials, including President Donald Trump. The Senate is prioritizing a Russia sanctions bill and government appointments, with a vote now expected no earlier than next week and limited time before the summer recess tightening the 2026 enactment timeline. Political pressure has also increased after Stand With Crypto said CLARITY Act votes will be scored on its public scorecard. Fidelity, Charles Schwab and Goldman Sachs CEO David Solomon have also backed the bill, while some policy analysts have cut this year's passage odds to 30%. CoinMarketCap reported that on July 28, 2026, Bitcoin traded near $63,458, down 2.5% over 24 hours, while Ethereum was around $1,877, down 3.3%, and XRP stood at $1.06, down 4.4%. The Fear & Greed Index was at 34, in "Fear" territory, suggesting that incremental legislative support has not yet changed market sentiment.