Garlinghouse Reveals What’s Next After XRP Price Reacts Following CLARITY Act Rejection

XRP price retreated sharply last week, drawing the attention of traders looking to understand what’s happening. The sharp drop, which signals cautious sentiment, came after US legislators killed the CLARITY Act. In response, Ripple CEO Brad Garlinghouse expressed his disappointment after the lawmakers voted against the legislation to legalize the motion. While he accepted the fate, he said the digital asset market, including XRP, can continue to grow without the draft.

The Senate disapproved the CLARITY Act yesterday. Senators voted 49-50 against advancing the act on Tuesday, September 15, blocking the bill, which would have unveiled the country’s first legislative framework for digital assets.

XRP falls 10% amid Clarity Act shootdown

XRP dropped to $1.27 following the Senate vote. Last week, the asset recorded a 10.3% decline, the worst performance (amidst its recent rally) after US senators failed to approve the CLARITY Act. The motion failed because it did not reach the expected 60 votes needed to pass the bill to the next stage, ending hopes of it becoming law this year.

Data shows XRP was hit hardest, followed by ETH, which dropped 7.2% to $2,392. Solana was next, down 5.7% to $97.01. Hyperliquid and Zcash each slipped nearly 4%, while Bitcoin fell almost 3% to $75,693. BNB and Tron fell the least, down less than 1% each.