XRP declined more than 2% to $1.03 after the US Senate departed Washington for its August recess without holding a vote on the CLARITY Act. The token has dropped 4.5% over the past seven days, making it the weakest-performing major cryptocurrency during that stretch.

Senate Majority Leader John Thune stated that a vote would take place in September, when lawmakers are scheduled to return on September 14. The postponement redirects market attention from a potential near-term legislative decision toward the upcoming US employment report and July inflation data, both expected the following week.

The CLARITY Act is intended to establish which US regulator oversees which digital assets. With Senate action now deferred, both the timing and the outcome of the legislation remain unresolved, leaving XRP traders to watch whether the issue re-emerges alongside other priorities on the Senate calendar.

XRP is currently trading at a two-year low and is at risk of slipping below its long-standing support level at $1.

$XRP is at a two-year low. Pay attention!

Ripple is approaching the support zone at the bottom of a falling wedge pattern on the weekly chart.

The price has hit a two-year low near $1, and the monthly RSI is more oversold than ever before.

All signs point to a reversal.… pic.twitter.com/VmL2d6eh7j

— Jasmine (@Jasminent0wva) August 6, 2026

What the CLARITY Act Delay Means for the September Window

The Senate will return on September 14 with roughly three weeks to work through a legislative backlog that includes government funding and a Russia sanctions bill. The CLARITY Act will therefore compete for limited floor time alongside these competing priorities, making the September session the next practical test for whether lawmakers can advance the bill at all.

The bill requires 60 votes to advance, and it remains unclear whether it currently commands even 50. Several Republican senators have publicly opposed the measure, while Democrats have pushed for stricter provisions aimed at preventing President Donald Trump from profiting from cryptocurrency holdings while in office.

The Senate's decision not to take up the legislation before the August recess means September represents the next available window for a floor vote.

XRP's slide came amid a mixed performance across major cryptocurrencies. Bitcoin held near $64,300 and was little changed on the day. ADA was one of the few prominent tokens in positive territory, gaining 7% over the past 24 hours and extending a seven-day rally of approximately 20%. (Source: TradingView)

Jobs and Inflation Data Take Focus Before the Senate Returns

With the legislative calendar on hold, the next US employment report stands as the most immediate economic release for crypto markets. The data may shape expectations around monetary policy ahead of the Senate's September return, keeping macro headlines in focus even as the crypto-specific bill stalls.

The Federal Reserve maintained its target interest rate at 3.50%–3.75% in July, although three officials voted in favor of a rate increase. A stronger-than-expected jobs report or persistent inflation readings would reinforce the case for tighter monetary policy, which has historically placed downward pressure on bitcoin.

Bitcoin has remained below $66,000 despite continued inflows into spot bitcoin exchange-traded funds. Those funds attracted approximately $626 million between August 3 and August 5, helping to defend the $63,000–$64,000 support zone but failing to push the price through resistance in the $66,000–$66,600 range.

The forthcoming economic reports therefore represent an important test for bitcoin's near-term direction. The same macroeconomic backdrop will form part of the broader market context as XRP traders await the next Senate legislative window.

Key Issues to Watch Into September

Ahead of tomorrow's US jobs report and — more importantly for most Fed officials — next week's CPI inflation data, markets see a 57% probability of a September rate hike by the Federal Reserve. Kalshi has it at 50% (below). #economy #markets #federalreserve pic.twitter.com/ZBFpsx8HZl

— Mohamed A. El-Erian (@elerianm) August 6, 2026

Three developments will frame the period ahead. First, the Senate's September 14 return will determine whether the CLARITY Act receives floor time amid competing legislative priorities. Second, the bill's vote count remains a central obstacle — it requires 60 votes to pass, while public Republican opposition and Democratic demands for stronger ethics provisions leave the ultimate level of support uncertain. Third, the employment and inflation releases will deliver the next major readings on the US economic landscape, potentially influencing expectations for Federal Reserve policy — a factor identified as relevant to bitcoin's price trajectory.