XRP price drops following Senate rejection of Digital Asset Market Clarity Act

XRP declined over 8% to approximately $1.29 after the U.S. Senate failed to advance the Digital Asset Market Clarity Act in a 49-50 vote. While the legislative setback halted a near-term path for a federal market-structure framework, Ripple CEO Brad Garlinghouse stated the company's commercial momentum remains unaffected. Ripple's Chief Legal Officer Stuart Alderoty emphasized that XRP's regulatory status as a digital commodity, established by the SEC and CFTC, remains intact despite the vote.