XRP drops 10% after Senate blocks crypto market structure bill

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The U.S. Senate rejected a procedural vote on the Clarity Act, falling short by 11 votes in a 49-50 decision. The failed vote dealt a blow to efforts to establish a regulatory framework for the cryptocurrency market. Following the news, XRP led losses among major tokens with a 10% decline. Bitcoin also retreated, sliding toward the $76,000 mark. The broader crypto market saw widespread selling pressure as a result of the legislative setback.

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