The Senate Banking Committee has handed XRP its most significant regulatory win in years. By a vote of 15 to 9, the committee approved the CLARITY Act, a bill that would classify XRP as a digital commodity under federal law and hand oversight to the Commodity Futures Trading Commission. The legislation now heads to a full Senate vote — expected before the August recess — and could unlock the institutional capital that has so far remained on the sidelines despite a suite of exchange-traded products.
That tailwind is clashing head-on with a hawkish turn from the Federal Reserve. The central bank left its benchmark rate in the 3.50% to 3.75% corridor at its latest FOMC meeting but revised its projections upward, putting further rate hikes back on the table. The dollar rallied, and risk assets took a hit. XRP dipped briefly below $1.19, and the token is now trading around $1.20 — a 36% loss over the past twelve months and a staggering 67% below its 52-week high of $3.65.
Ripple, meanwhile, is building a parallel narrative on the ground in Africa. The company invested in Flutterwave, a payments infrastructure firm valued at roughly $3.2 billion, and the partnership goes well beyond capital. Flutterwave will integrate Ripple’s stablecoin RLUSD, the Ripple Payments network, and the XRP Ledger across 34 African markets. The goal is to replace the multi-day settlement delays still common in cross-border transfers with near-instant payments and lower currency-exchange margins.
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The XRP Ledger itself underwent a technical refresh on June 15 with the rollout of version 3.2.0. The core software has been rebranded from rippled to xrpd, and the update cuts node storage requirements by 30% to 40%. Ripple’s CTO emeritus David Schwartz migrated his own hub server to the new version the following day. For token holders, the upgrade is invisible — no wallet changes — but it improves network efficiency and lowers the bar for running a node.
Institutional interest remains surprisingly resilient despite the depressed price. The seven XRP spot ETFs approved in the U.S. since November 2025 have attracted cumulative net inflows of $1.44 billion and are estimated to hold between 770 million and 926 million tokens. Weekly inflows clocked in at $10.7 million last week, though price erosion has dragged total assets under management from $1.11 billion to $1.06 billion. On-chain data points to even broader accumulation: the number of wallets holding at least 10,000 XRP hit a record 332,230 this week.
The technical picture offers little immediate direction. XRP trades roughly 8% below its 50-day moving average, with a relative strength index hovering in neutral territory near 44 to 48. The 200-day average sits at $1.56 — about 24% above current levels — and resistance is pegged at $1.30 and $1.41. For XRP to break out of its months-long rut, the Senate will need to deliver on the CLARITY Act, and Flutterwave will need to convert its integration plans into real transaction volume on the ledger. Neither is guaranteed, but for the first time in a while, the catalysts are stacking up in the same direction.
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