XRP fell more than 8% after a 49-50 Senate vote blocked an effort to advance the Digital Asset Market Clarity Act, extending its decline from roughly $1.42 on Sept. 14 to as low as $1.27 before recovering to about $1.29. The selloff came amid broader weakness in major cryptocurrencies and leveraged long liquidations. The failed vote removed a near-term path for a federal market-structure framework, but Ripple Chief Executive Brad Garlinghouse said the result "stings" without changing the company's commercial trajectory, global footprint or customer base. Ripple Chief Legal Officer Stuart Alderoty said XRP remains on "settled ground" under a March SEC (U.S. securities regulator) interpretation and CFTC (U.S. derivatives regulator) approach that identified XRP among 18 digital commodities. That treatment remains in place but is less durable than legislation because regulators can revise their interpretations and transaction-specific sales can still fall under the Howey test. Ripple expects SEC Chairman Paul Atkins and CFTC Chairman Mike Selig to play a larger role in crypto rulemaking, while the company continues expanding across payments, stablecoins and institutional markets. U.S. spot XRP ETFs had recorded about $1.71 billion in cumulative net inflows and roughly $1.58 billion in net assets through Sept. 14, ranking behind only Bitcoin and ETH among major U.S. single-asset spot crypto ETF categories and ahead of Solana's roughly $1.37 billion in cumulative inflows.