XRP fell nearly 10% to $1.30 during Wednesday’s Asian trading session after the U.S. Senate rejected advancing the Clarity Act, a bill intended to establish clearer cryptocurrency-market rules. The procedural cloture vote ended 49-50, well below the 60 votes required for floor debate. Although the legislation contained more than 600 pages of negotiated text, opposition focused on ethics provisions covering cryptocurrency investments by Trump administration officials. Michigan Democratic Senator Elissa Slotkin said the safeguards did not adequately address potential conflicts involving President Trump, his family and Cabinet appointees. She also cited concerns about insufficient CFTC (U.S. derivatives regulator) staffing and gaps in anti-money-laundering and terrorism-financing provisions. Ripple Chief Executive Officer Brad Garlinghouse called the outcome disappointing and said it “stings.” Crypto-related stocks fell more sharply than most digital assets, with Coinbase down nearly 9% to $174.42 and Circle off more than 9% to $88.26. Ethereum, Solana and Dogecoin each lost about 5%, while Bitcoin fell nearly 3% to slightly above $76,000 after briefly dropping below $75,000. Santiment said wallets holding more than 1 million XRP had shown increased activity before earlier major price moves, noting that 85 such wallets appeared two days before XRP’s 67% August surge. Attention now turns to the SEC’s pending Reg Crypto framework and tokenized securities rules, while the next congressional session begins in January 2027. A quarter-point Federal Reserve rate increase was expected to add pressure, potentially pushing XRP toward $1.21 or lower, whereas an unchanged decision could help $1.30 become support.