TLDR XRP fell about 2.2% to trade near $1.03, keeping it among the weaker large-cap tokens. The Senate pushed its CLARITY Act vote to September, removing a near-term regulatory catalyst. Bina
XRP traded near $1.03 on Aug. 7, down about 2.2% over 24 hours. The token stayed among the weaker large-cap cryptocurrencies as broader selling continued.
Market capitalization held near $64.2 billion. Trading volume was close to $1.44 billion over the past day.
The price drop came as the U.S. Senate pushed back a vote on the CLARITY Act. Senate Majority Leader John Thune said the bill would return in September.
Senators are scheduled to return Sept. 14 after a state work period. The delay removes a regulatory event that traders had been watching in August.
XRP traded between about $1.01 and $1.06 over the last day. The $1 level is now the closest support for the token.
XRP Price on CoinGeckoThe daily chart stays bearish after a long decline from above $2.50. A move above $1.10 to $1.15 would be needed to improve the short-term picture.
Analyst EGRAG CRYPTO said on X that XRP remains close to $1.05 after completing a three-day symmetric triangle breakdown. He pointed to gravestone doji patterns and said the setup looks more like consolidation than a reversal.
#XRP 3-Day – Symmetrical Triangle Chart – Do you still remembered it:
As you can see that the bearish roadmap has largely played out in this Chart:
Multiple gravestone doji rejections
— EGRAG CRYPTO (@egragcrypto) August 6, 2026
EGRAG CRYPTO listed resistance levels at $1.11, $1.21, $1.28 to $1.30, and $1.38. He said a three-day close above $1.50 to $1.51 would invalidate the bearish setup, while a $0.88 target stays possible until then.
CryptoQuant analyst Amr Taha said Binance XRP open interest rose from about $180 million on Aug. 4 to $195 million on Aug. 7. That is an increase of roughly 8%.
Over the same stretch, perpetual cumulative volume delta fell from about negative $292 million to negative $363 million. Taha said this points to fresh leveraged selling.
Spot demand also weakened. Taha said spot CVD across exchanges fell more than 52%, from around $235 million to $112 million.
Separate CryptoQuant data showed whales made up 81% of Binance XRP outflows on Aug. 3. That compares with 72% across exchanges overall.
On X, analyst account BankXRP pointed to a Form 8-K filing from Grayscale for its CoinDesk Crypto 5 ETF. The filing shows the fund has entered its scheduled quarterly rebalance under the CoinDesk 5 Index methodology.
JUST IN: Grayscale files an 8-K for its CoinDesk Crypto 5 ETF (GDLC)
Quarterly portfolio review completed, rebalance process now underway per the CD5 Index Methodology.
Watch for the new weights on BTC, ETH, XRP, SOL & BNB
https://t.co/vvomySXmXepic.twitter.com/CXtRuFjP2w
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) August 6, 2026
The rebalance places XRP alongside Bitcoin, Ethereum, Solana, and BNB as the index adjusts asset weights. A higher XRP weighting could point to more institutional attention on the token.
The Federal Reserve held its rate target at 3.50% to 3.75% on July 29 in a 9-3 vote. Beth Hammack, Neel Kashkari, and Lorie Logan dissented in favor of a 25-basis-point hike.
The July jobs report was due Aug. 7 at 8:30 a.m. ET, followed by July CPI data on Aug. 12. Both reports could move XRP and other risk assets in either direction.
The post XRP (XRP) Price: Tests $1 Support After Senate Delays Vote appeared first on Blockonomi.
