US Market Structure Bill, 3% Chance of Passing on April 23rd...Is Now the Time to Dump XRP?

▲ XRP/AI-generated image

XRP investors are deeply contemplating whether to dispose of their holdings. This is because market uncertainty has amplified as the probability of the US crypto market structure bill (CLARITY) passing Congress has dropped to an all-time low.

According to a CoinGape report on April 23 (local time), Bloomberg analyst James Seyffart diagnosed the bill's passage probability at just 3%. Seyffart stated that considering the current political situation and congressional schedule, it is virtually impossible for the bill to be processed within the year. The US crypto market structure bill was a key legislative proposal expected to clarify the legal status of virtual assets.

With legislative expectations dwindling, XRP's price is showing a stagnant trend. Investors have been waiting for an institutional mechanism to end the legal dispute between Ripple and the SEC. However, as legislative momentum weakens, market disappointment is fueling price declines. Currently, XRP is engaged in a precarious struggle around the key support level of $0.6.

Experts expressed concern over the delayed establishment of a virtual asset regulatory framework. Seyffart explained that without clear regulatory standards, the entry of large-scale capital into the market is blocked. Assets with unresolved legal issues, like XRP, react more sensitively to policy uncertainty.

The market is closely monitoring congressional movements and adjusting asset management strategies. The legislative difficulties of the US crypto market structure bill are a factor that dampens overall market investment sentiment. Political variables and legal risks surrounding XRP are expected to increase price volatility for the time being.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*