XRP slides as CLARITY Act vote shifts to September

Selling pressure weighed on the asset as traders navigated a shift in both legislative and macroeconomic landscapes. Derivatives data highlights a bearish tilt, with Binance open interest climbing 8% to $195 million while perpetual cumulative volume delta plummeted to negative $363 million. This divergence suggests an increase in leveraged short positions, further compounded by a 52% drop in spot buying momentum across major centralized exchanges. Whales appear to be driving the outflow activity, accounting for 81% of Binance departures in recent sessions.

Technically, the token sits at a precarious juncture. With the price hovering between $1.01 and $1.06, the psychological $1 level serves as the primary support floor. Indicators remain broadly bearish; the Aroon Oscillator at -100 underscores the dominance of recent lows, and the BBTrend remains negative. Recovery above the $1.10 to $1.15 range is required to shift the current structure toward stabilization.

Beyond technicals, the market is bracing for U.S. labor and inflation data. The July employment report and upcoming CPI figures carry the potential to sway broader risk appetite, particularly as the Federal Reserve maintains a target range of 3.50% to 3.75%. While the legislative delay of the CLARITY Act creates uncertainty for the regulatory framework governing digital assets, market participants remain focused on whether upcoming economic readings will force a change in interest rate policy.