XRP has tumbled nearly 9% over the past 24 hours, trading near $1.30 as of Sept. 16, following the Senate's failure to advance the CLARITY Act. The token now sits roughly 7% below the $1.40 level it held before the selloff intensified.
Data from CoinGecko shows XRP at approximately $1.30, down 8.9% in the last day and 9.4% over the past week. During the decline, the price briefly touched $1.27 before recovering some ground.
Senate setback adds pressure
The selling pressure accelerated after the U.S. Senate's procedural vote on the CLARITY Act fell short on Sept. 15. The vote ended 49-50, with the bill failing to reach the 60-vote threshold needed to move forward. Four Republicans joined Democrats in opposition.
Prior to the vote, XRP had been trading near $1.40 as traders awaited the outcome. The subsequent decline pushed the token below $1.35 and briefly under $1.30. The broader crypto market also suffered, with Bitcoin falling nearly 4% and Ethereum losing more than 6% during the same period.
The CLARITY Act aimed to establish a federal market structure for digital assets and clarify regulatory responsibilities in the U.S. Its failure leaves the bill stalled, though it could be reconsidered later. Ripple, the company closely associated with XRP, maintained that the vote does not alter XRP's existing legal standing, citing its 2023 court victory and a March 2026 joint SEC and CFTC interpretation that classified XRP as a digital commodity.
Macro headwinds weigh on crypto
The crypto selloff coincides with caution ahead of the Federal Reserve's policy decision on Sept. 16. Bond markets have been reacting to inflation concerns and the possibility of tighter monetary policy. The 10-year Treasury yield climbed to 5.041% on Tuesday, its highest level since July 2007. The two-year yield reached 4.688%, while the 30-year yield touched 5.401%.
According to CME's FedWatch tool, markets were pricing a 92.7% probability of at least a 25 basis point rate increase before the decision. Such expectations have historically pressured risk assets, including cryptocurrencies.
Technical analysis: key levels to watch
On the daily chart, XRP's recent high near $1.50 in early September has been followed by repeated rejection around the $1.40-$1.43 zone. The token then dropped to an intraday low near $1.27 on Sept. 16. The volume profile shows a significant concentration of trading activity between $1.37 and $1.44, which could act as resistance if XRP attempts to recover.
Currently, XRP is trading below both the 20-day exponential moving average (EMA) and the 200-day EMA, both near $1.35. The 50-day EMA sits around $1.28, while the 100-day EMA is near $1.26. Wednesday's low has already brought XRP into this support cluster.
If XRP closes below the 50-day EMA, the 100-day EMA near $1.26 becomes the next critical support. Losing that level could expose the $1.20 area, followed by the previous consolidation zone around $1.10-$1.15.
The relative strength index (RSI) has fallen to 46.86, down from over 80 during August's price spike. It is now below its signal average near 56 and under the neutral 50 level, indicating that bullish momentum has faded. However, the RSI remains well above the oversold threshold of 30, leaving room for further downside.
The MACD indicator has also turned bearish, with the MACD line at 0.0179 versus the signal line at 0.0388, and the histogram negative at -0.0209. This bearish crossover follows the loss of momentum after XRP's early September attempt to stay above $1.40.
Recovery path and downside risks
For XRP to reclaim $1.40, it would first need to hold the $1.26-$1.28 EMA cluster and then break back above the 20-day and 200-day EMAs around $1.35. A move through $1.40-$1.43 would clear the main volume-profile resistance and open a retest of $1.50, where selling emerged earlier this month.
Failure to hold $1.26 would weaken the recovery outlook, with $1.20 becoming the next probable downside target. If $1.20 is lost, the $1.10-$1.15 region—where XRP traded repeatedly during June and July before the August breakout—would come back into view.
Related coverage: Bitcoin's $75K support test and Strategy shares slide 5%.
This article is for informational purposes only and does not constitute financial advice.
