Following the CLARITY Act's failure, XRP faces a difficult Q4 recovery, while Bitcoin and Ethereum remain better positioned to capitalize on potential Fed policy shifts and institutional ETF inflows.
The CLARITY Act's Senate failure removed legislative catalysts and XRP fell over 10%, leaving it the worst positioned large crypto for Q4.
Bitcoin is expected to perform best by year-end, with a bull case toward $100,000-$110,000 if the Fed pauses, though it slipped from $80,000.
Ethereum leads Q4 outlook with a dated technical upgrade and base case around $2,800-$3,300, though uncertainty over staking rules persists.
The U.S. Senate's rejection of the CLARITY Act has shifted the regulatory burden to the SEC and CFTC, leaving XRP as the worst-positioned major asset for Q4. While Bitcoin and Ethereum face macroeconomic headwinds, they maintain stronger outlooks, with Bitcoin projected to outperform as it eyes a potential $100,000 year-end target.
The failure removes immediate legislative clarity, leaving market-structure rules to be determined by the SEC and CFTC for the remainder of 2026.