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This Week
XRP ends the week at $1.36, down 4.2 percent on last Sunday. The wider market fell 1.8 percent, so XRP gave up more than twice as much ground as the market it trades inside. It ran up to $1.45 on Tuesday. By Friday it was back at $1.31. Total crypto market value sits at $2.74 trillion, with Bitcoin dominance at 56.5 percent. The Fear and Greed Index closed at 61, which still reads as Greed. It read 73 last Sunday. Greed is a curious thing to find in this market. XRP sits 63 percent below its all time high and 26 percent down on the year.
Now Tuesday. The Senate takes the CLARITY Act to the floor for the first time. That vote is the first real test of whether America gets a market structure law in this Congress. Cynthia Lummis put out new text on Thursday and left the one section everybody is fighting over untouched. Republican senators spent the week saying out loud that it is likely to fail. The clock counts as much as the votes here. After Tuesday the calendar runs hard into the midterms on 3 November.
So is the bear market over? That is the question sitting under all of it, and the Chart Watch below carries the read. Away from Washington the ledger had a busy week and a revealing one. New data on August traffic shows who is actually using the XRP Ledger. The spot funds kept taking money while the coins inside them lost value. Ripple wrote the rulebook for its own dollar, then burned some of it.
The Consensus
⚖️ The CLARITY Act reaches the Senate floor on Tuesday, with Republican senators publicly warning that it is likely to fail.
🤖 767 machines ran the XRP Ledger last month, producing almost all of its transactions between them.
📉 The XRP funds hold less than investors put in, a gap of about $250 million at the last count.
💵 Ripple published an RLUSD rulebook, days after burning 15 million of the tokens.
The Numbers
