XRP Price Wavers Amid Steady ETF Inflows Ahead of CLARITY Act Vote

XRP (CRYPTO: XRP) has traded within a narrow range over the past three weeks as the recent crypto market rally stalls. The token was trading at $1.3480 on Sunday, down 20% from its August high. This week could prove pivotal, with the Senate set to vote on the CLARITY Act and ETF inflows continuing to climb.

CLARITY Act and XRP ETF Inflows

XRP price has remained in a tight range, mirroring the performance of other top cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which have stalled.

The ongoing consolidation happened even as American investors continued buying its ETFs. Data shows that spot XRP ETFs have had over $32 million in inflows this month, bringing the cumulative inflows to $1.7 billion. These funds, led by the Bitwise XRP ETF, have over $1.45 billion in assets.

The next important catalyst for the token will be the upcoming CLARITY Act vote, which will happen on September 15. This will be a cloture vote to proceed with the vote and will require 60 Senators.

The CLARITY Act would benefit XRP and the broader crypto industry by creating a set of rules that companies and developers will need to follow. For example, it will move most of the regulatory roles from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC).