Ripple (XRP) Bounces Back for the Month After Losing 8% on the Senate Vote
XRP clawed back from a brutal Senate vote that sent it plummeting, but the real question is whether actual investors are driving this recovery or if it rests on the shakiest foundation in crypto trading.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
As of September 22, 2026, XRP (CRYPTO:XRP) is trading at $1.58, up 3.5% in the past 24 hours and about 8% higher than its $1.46 close on August 22. Despite a failed Senate vote and broader turbulence, XRP has managed to end up ahead of where it began a month ago.
Compared with other cryptocurrencies, XRP is trailing—over 30 days, it’s up only 4.1%, while Bitcoin, Ethereum, and Solana have jumped 11.1%, 11.7%, and 23.6%, respectively.
The question for investors is whether the XRP price can maintain this upward momentum or if it’s just a temporary spike from short covering.
XRP Fell From $1.70 to $1.25 and Climbed Back in Four Weeks
XRP peaked at $1.70 on August 22 and closed that day at $1.46—the month’s highest point. By August 31, the price had slipped to $1.38 as the CLARITY Act lost support in the Senate. Cloture—the vote deciding if debate should end—is what the bill needed to advance. When the Senate voted on September 15, it failed by a close of 49 to 50, causing XRP to drop to $1.28 by the end of that day.
XRP fell to its lowest point the next day, dropping to $1.25 before closing at $1.30. This was lower than many reports suggested, making the subsequent recovery more impressive. By September 18, XRP’s price started to rise again, closing at $1.40, reaching $1.45, and closing at $1.41 on both September 19 and 20. The price broke through $1.50 on September 21, indicating a strong rebound.
XRP has now regained everything lost after the vote. Anyone who bought on August 22 is up about 8%, while those who purchased at the low of $1.25 on September 16 are enjoying a 26% increase.
The CLARITY Act’s Failure Hit XRP Hardest
The CLARITY Act was particularly crucial for XRP, since it would have made XRP a commodity under the law. The SEC and CFTC jointly issued this interpretation earlier this year. With the bill’s failure, XRP faced more pressure than Bitcoin, whose status remains clear.
The rebound on September 21 was driven more by traders closing short positions than by new investment. A short squeeze occurs when traders betting against a price are forced to buy back their positions, driving the price higher. In September, sentiment shifted as negative funding rates for perpetual futures indicated many traders were betting against XRP.
While about $19 million flowed into XRP products after the vote, Bitcoin saw $986 million in inflows the week prior. This suggests longer-term investors favored Bitcoin, while XRP saw a spike in short-term interest.
XRP Gained Four Administrative Wins and Lost the One Permanent One
Despite the setbacks, XRP had some positive developments during the month. The XRP Ledger’s Batch amendment is now in its countdown phase, the CFTC’s rulemaking is with the White House, and the SEC approved Nasdaq Texas to list XRP in commodity trusts.
On the business side, Stripe incorporated XRP into its agent payments, while Ripple’s dollar stablecoin, RLUSD, surpassed $2.4 billion in circulation. Each of these achievements should increase XRP’s usage, but they’re contingent on approval from agencies and companies.
Unfortunately, the biggest blow was the failed bill, which would have guaranteed clarity on XRP’s status—something its peers did not face.
Is the XRP Price Recovery a Base or a Short-Term Spike?
Whether this recovery is a true base remains in question. It will depend on whether new buyers replace the short sellers who drove the recent spike. XRP is currently above its initial price for the month because about $300 million in short positions were closed on September 21. It had the most crowded short positions among major cryptocurrencies, and as traders began to cover their bets, the price climbed to $1.58.
Anyone labeling this recovery as a solid base too early might be buying into a temporary rise. Key support lies around $1.53, about 3% below the current price. A close below $1.53 could indicate this rebound isn’t a sustainable upward trend. To truly confirm momentum, we’ll need to see XRP maintain its position in the coming weeks. As it stands, XRP has gained 4% this month, but compared with its peers’ gains of 11% to 24%, it’s still lagging.
Contact [email protected] for any questions or corrections.
Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
