XRP Breaks Triangle and Tests $1 as Senate Pushes CLARITY Act Vote to September

The delayed vote removes a near-term legal catalyst and leaves price vulnerable if the $1 psychological floor fails.

Overview

U.S. senators moved the CLARITY Act vote into September, a development reported on Friday that removes an expected August regulatory clarification for whether XRP would be treated as a commodity or security.
XRP pierced the lower trendline of a multi-month symmetrical triangle and gave up the $1.05 support zone, leaving the $1.00 level and the Bollinger lower band as the next technical floors.
Derivatives markets showed stress with futures volume jumping about 51% and roughly $5.92 million of long positions liquidated while short liquidations stayed near $120,000.
Spot ETF flows cooled with $3.58 million in net outflows on August 5 concentrated in Bitwise’s product, and on-chain/exchange metrics recorded rising Binance open interest and a more than 52% drop in spot cumulative volume delta.
The near-term outlook now hinges on whether buyers defend $1.00, ETF and whale flows stabilize, and the Senate vote or U.S. economic data spark renewed buying or deeper selling.