XRP extends a seven-day losing streak after the US Senate Agriculture Committee delays the Market Structure Bill markup. Legislative uncertainty pulled XRP from a January high of $2.4151 to near $2.03, highlighting policy impact on prices. Despite recent losses, XRP remains up 11.5% YTD, supporting a bullish medium-term outlook toward $3.0.
Market anticipation of the US Banking Committee and Agriculture Committee markups progressing the Bill sent XRP to a January 6 high of $2.4151. However, the token has since fallen to a low of $2.0328, underscoring the significance of crypto-related legislative developments on XRP price action. The US Senate Banking Committee markup is scheduled for January 15, amid optimism about progressing to clear text. Analysts expect the Market Structure Bill to fuel retail and institutional demand for XRP, given the token’s real-world utility.
XRP surged 14.69% on July 17 after the US House of Representatives passed the Market Structure Bill to the Senate. However, the lengthy US government shutdown dampened hopes that legislation would be in place by the end of 2025, sending XRP to a December low of $1.7712. XRP then rallied to an eight-week high of $2.4151 on January 6 after the US Senate Banking Committee announced the January 15 markup. If the US Senate Banking Committee approves the draft text, the market focus will turn to the US Senate Agriculture Committee.
Approved text from the US Senate Agriculture Committee would merge with the US Senate Banking Committee text, setting the stage for a Senate floor vote. If passed, the Bill would return to the House of Representatives.
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