XRP, DOGE Surge as Clarity Act Clears Senate Panel 15-9
SkimNews Take
Bipartisan committee approval for crypto legislation suggests a growing political consensus around digital assets, potentially reducing regulatory uncertainty that has historically dampened market enthusiasm.
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- The Digital Asset Market Clarity Act cleared the Senate Banking Committee 15-9 in a bipartisan vote, with Chair Tim Scott winning over two Democrats through a last-minute maneuver to admit previously rejected amendments — a procedural shift that ranking Democrat Elizabeth Warren publicly objected to on the floor.
- Bitcoin reclaimed $81,055 in Asian trading, up 2.3% over 24 hours, recovering the level it lost after Wednesday's producer price index print, per CoinDesk data.
- XRP led major altcoins with a 4.5% gain to $1.49, extending its seven-day run to 7.6%, as the article frames the rally as directly tied to clearing the regulatory overhang from the SEC's Ripple Labs litigation.
- Dogecoin rose 3% to $0.1159 (up 8.9% weekly), BNB gained 2% to $681, and Solana climbed 2% to $91 — moves that bucked a broader risk-off tape that sent MSCI Asia Pacific equities down 1.1% and U.S. equity futures down 0.2%.
- Strategy's STRC preferred stock launch drew $8.5 billion in incremental institutional interest at an 11.5% dividend yield, a figure cited by ZX Squared Capital's CK Zheng to argue bitcoin's Q1 bottom is established, with its ~50% drawdown notably shallower than 2022's ~78% decline.
- Renna Ba of Morph said the Clarity Act's separation of payment stablecoins from investment assets gives the global payments industry 'the legal foundation it has needed to build with confidence,' a framing that explicitly positions XRP's regulatory case as the policy winner.
Why it matters: The 15-9 committee vote — secured only after Scott resurrected rejected amendments to flip two Democrats — is the first bipartisan move on crypto market structure in months, but unresolved law enforcement and ethics provisions will determine whether the merged bill can clear a full Senate floor where every Democrat's vote matters. For XRP holders specifically, the article frames the legislation as a direct removal of the post-Ripple SEC overhang, making this the policy event the token has been waiting on.
