XRP (XRP) fell to about $1.02 on Friday after the Senate delayed its CLARITY Act vote, reviving warnings of a 14% average August drop.
Key Points:
- The Senate pushed its CLARITY Act vote to September after Democrats declined to clear a procedural path before the August recess.
- Analyst ChartNerd counted August losses of 5.7%, 23.0% and 13.7% in the three previous US midterm years, an average of roughly 14%.
- XRP traded near $1.02 while Bitcoin held around $64,000 and Ethereum sat near $1,900.
XRP Price Falls As Senate Delays CLARITY Act Vote
Senate Majority Leader John Thune confirmed late Thursday that the chamber would not take up the CLARITY Act before lawmakers left Washington for the August recess. Democrats resisted a time agreement that would have opened a procedural path to the floor, citing unresolved disputes over ethics language and stablecoin yield payments. Thune said the measure would be queued when senators return in September.
The delay pushes the digital asset market structure bill into a fall calendar crowded with spending fights and midterm campaigning, with no deal yet on ethics provisions drafted by Senators Thom Tillis and Ruben Gallego. Prediction market odds on passage this year have slid sharply since February.
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ChartNerd And Hougan Weigh The XRP Price Outlook
Analyst ChartNerd wrote on X that XRP was already bleeding before the vote slipped, and argued the token could fall further while larger assets hold their ground. He tallied August declines of 5.7% in 2014, 23.0% in 2018 and 13.7% in 2022, covering every previous US midterm year on record. Those three months average roughly a 14% loss.
Bitwise chief investment officer Matt Hougan argued this week that a stalled bill would dent sentiment in the near term, though he expects the measure to linger in what he called a walking dead state. He has also said the SEC can write rules covering much of the same ground.
XRP Price Levels And The Long-Term Chart
XRP traded near $1.02 on Friday, down about 3% on the day and close to 6% for the week, while Bitcoin (BTC) held around $64,000 and Ethereum (ETH) sat near $1,900 with little movement.
ChartNerd noted that XRP had printed its lowest daily close of the year. Institutional selling has compounded the pressure, with Grayscale reporting net outflows of roughly 103 million tokens across the first half of 2026.
He has also flagged an 8.5-year cup-and-handle formation with extension targets at $8, $13 and $27, calling it one of the largest setups on the market. Even so, he expects XRP to grind sideways near $1 for months.
The slide extends a downtrend that began after XRP peaked near $3.60 in July 2025, leaving the token roughly 70% below that high and well under its 200-day moving average.
It has now closed August in the red four years running, the longest active losing streak of any month on its chart. The token also trades about 40% lower for the year.
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