XRP Falls 10% After Senate Fails to Pass Crypto Market Structure Bill

XRP fell 10% after the CLARITY Act, a bill meant to set clear US rules for digital asset markets, failed to pass a vote. The token slide was immediate and direct, unlike broader crypto-equity moves that tend to lag legislative news by days. Despite the drop, Bernstein said it remains bullish on crypto stocks. The firm's reasoning: legislative setbacks are procedural, not fundamental, and the underlying adoption case for digital assets hasn't changed. That view puts Bernstein at odds with the token market's immediate reaction. What's unresolved is whether the bill can be revived in a future session and how long a legal gray area continues to weigh on token prices even if equities hold up.