XRP traded at $1.009 on Thursday, hovering just above the $1 mark after the US Senate left for recess without taking a floor vote on the CLARITY Act. The bill is viewed as important for XRP because it would place the token’s legal status into federal law, but its next chance to advance will not come until senators return in September.

While Congress has paused, US market regulators are still moving. The Commodity Futures Trading Commission is set to hold its first Innovation Advisory Committee meeting on August 20 to discuss what it can address under its current authority, signaling that parts of the crypto rulemaking agenda may continue even without immediate legislation.

Legislative delay keeps uncertainty in place

The CLARITY Act gained momentum when the House passed it on July 17, 2025, by a 294-134 vote. In the Senate, however, progress has been slower. After the Senate Banking Committee advanced the measure 15-9 in May, the legislation still required 60 votes to clear the chamber.

No floor vote took place before senators departed in August, leaving the bill in limbo until the next Senate window opens in September. That delay matters because a federal statute would be more difficult to reverse than agency guidance, and the absence of that certainty has been cited as a reason more cautious capital has remained on the sidelines for XRP.

XRP remains far below its post-House peak

According to the source report, XRP reached its high point around the time the House approved the CLARITY Act. Since then, the token has fallen sharply and now stands about 72% below that peak.

Recent performance has also been weak. XRP was down 2.9% over the past week and 8.7% over the past month, even as it continued to hold close to the dollar threshold in Thursday trading.

CFTC advances work under existing powers

The CFTC is preparing for an August 20 Innovation Advisory Committee meeting in Washington that will focus on steps the agency can take using powers it already has. The move suggests the regulator does not intend to wait for Congress before addressing parts of the digital asset framework.

Ripple already has representation in that process. Ripple CEO Brad Garlinghouse sits on the committee alongside executives from Coinbase, Nasdaq, and CME Group. Public comments tied to the CFTC meeting are scheduled to close on August 27.

SEC and CFTC continue parallel efforts

US regulators have already taken some joint action this year. In March 2026, the SEC and CFTC issued a shared interpretation on crypto categories, though the guidance did not designate any individual token and instead pointed back to Congress for a legislative answer.

The SEC is also moving on a separate track. The source article says the agency has proposed crypto offering rules for token fundraising, while a separate tokenization exemption has reportedly been delayed again. For now, the next confirmed milestone is the CFTC’s August 20 meeting, with the broader legislative question pushed to the Senate’s return in September.

Source: beincrypto.com