XRP Price at Risk of 15% Crash as Kalshi Odds Fall on CLARITY Act

The XRP price continues to plummet due to a decline in the odds of the CLARITY Act passing on Kalshi, with traders now placing bets against its passage. This development has added to the bearish sentiment in the market, causing Ripple's stablecoin, RLUSD, to face pressure.

Data from Kalshi shows that the odds of the bill being passed this year have dropped to 51% from over 80% a few months ago, while the chances of it passing before August and July have decreased to 35% and 17%, respectively.

The CLARITY Act's stablecoin yield issue has been a major point of contention among banks and companies in the crypto industry. A recent compromise made with the White House was rejected by some notable companies, including Coinbase.