Ripple (XRP) was trading around $1.37 as of approximately 11 a.m. Korean time on the 1st, as movement on U.S. virtual asset regulation legislation once again drew market attention. Overseas crypto media outlet CoinGape predicted that the U.S. Senate vote scheduled for September 15 (local time) will be a key variable for the XRP market.

What Is at Stake in the September 15 Senate Vote

According to CoinGape, XRP fell about 2% over 24 hours as of August 31 (local time). Analysts see this as a sign that expectations of political progress on U.S. virtual asset regulation have yet to translate into sustained demand.

The U.S. Senate will hold a cloture vote on the Digital Asset Market Clarity Bill at 2:15 p.m. on September 15 (local time). Sixty votes are needed to pass the procedure. Even if the vote succeeds, the bill's passage is not guaranteed; the process would move to an official debate stage on the proposed regulatory framework. Stablecoin rewards, protections for decentralized finance, and ethics restrictions remain unresolved issues.

The legislative process has been winding for months. The U.S. House of Representatives passed its own bill in July 2025 (local time) by a vote of 294 to 134, with 78 Democratic lawmakers voting in favor. In May 2026 (local time), the U.S. Senate Banking Committee passed a related proposal 15 to 9, but a more comprehensive measure was subsequently withdrawn, CoinGape reported.

According to sources cited by CoinGape, Commodity Futures Trading Commission (CFTC) Chairman Michael Selic expressed confidence about the September 15 (local time) Senate vote. However, key issues remain ahead of the vote. CoinGape reported that Democrats demanded stronger safeguards regarding political figures and virtual asset profits before further proceedings.

On prediction markets, the likelihood of the bill passing in 2026 has fallen to around 14%, a sharp drop from 82% in February (local time). CoinGape noted that if the cloture vote fails, there may not be enough time before the October (local time) election recess. Chairman Selic signaled that the CFTC has the authority to establish market rules even under its current powers.

Separately, CoinGape reported that the U.S. Securities and Exchange Commission (SEC) announced virtual asset rules on August 18 (local time) whose definitions partly align with the Clarity Bill.

XRP Exchange-Traded Funds Record Largest-Ever Weekly Net Inflow

Even as spot markets weaken, institutional money continues to flow into XRP exchange-traded funds (ETFs). According to CoinGape, XRP ETFs attracted $110.49 million last week, the largest weekly net inflow on record. CoinGape assessed this as a positive signal of institutional interest despite weak XRP price momentum heading into the weekend.

Daily net inflows on August 28 (local time) totaled $26.2 million, bringing cumulative net inflows to $1.66 billion. The total net assets of XRP ETFs stand at $1.44 billion, equivalent to 1.66% of XRP's total market capitalization, according to CoinGape.

By issuer, Bitwise led with $15.4 million, followed by Canary with $5.12 million and Franklin with $2.99 million. CoinGape explained that this distribution of funds shows XRP's growing popularity across multiple regulated investment product providers.

Price Outlook: Holding the $1.35–$1.38 Support Zone Is Key

CoinGape analyzed that defending the $1.35–$1.38 support zone is XRP's first priority during the current correction. If the zone holds firmly, further gains toward $1.47 are possible. The $1.53–$1.55 resistance zone would then determine the strength of any recovery.

CoinGape said that if XRP closes a daily session above $1.55, it could again target the recent high of $1.70. Continued legislative progress and sustained institutional inflows could help push XRP toward $1.80, and under certain conditions XRP could break above $2, though that outlook depends heavily on multiple factors.

Downside scenarios were also presented. According to CoinGape, XRP's relative strength index (RSI) fell to 43 after entering overbought territory. If the market decline continues and XRP loses the $1.30 level, $1.20 is cited as the next price target, CoinGape analyzed.

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