XRP and XLM Surge 8% Ahead of Key CLARITY Act Vote

XRP and XLM prices surged more than 8% on September 14. Traders are positioning ahead of an upcoming Senate procedural vote on the Digital Asset Market Clarity Act (CLARITY Act).

XRP rose to $1.47, up 8.42%, while XLM jumped to $0.1949, gaining 8.44%.

The CLARITY Act aims to clarify jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It would formally classify certain digital assets as commodities rather than securities.

Both tokens could benefit significantly if the bill becomes law. In March 2026, the SEC and CFTC already identified XRP, XLM, and HBAR as examples of digital commodities in a joint guidance document.

If classification is clarified by law, legal uncertainty restricting participation from payment and settlement network-related institutions would be greatly reduced.

XRP has long been associated with cross-border payments and institutional settlement infrastructure. XLM, through the Stellar Network, is gaining attention for low-cost remittances, recent integration with traditional financial infrastructure, and a successful U.S. bank stablecoin pilot project completed on its network just days before the vote.

Senate Republican members released a final draft on the evening of September 13, incorporating 126 substantive amendments requested by Democrats.

Sponsors Sens. Cynthia Lummis, John Boozman, and Tim Scott stated the 635-page bill strengthens ethics provisions, expands U.S. Attorneys' enforcement authority, and grants new powers to the Treasury Department to address payment stablecoin-related deposit outflows for regional banks.

The Senate is scheduled to hold a cloture vote at 2:15 PM EDT on Tuesday, September 15, to begin formal debate. The bill requires at least 60 votes to proceed. With Republicans holding 53 seats, they would need at least seven Democratic or independent senators to defect.

Three key issues continue to complicate the vote: a Trump administration ethics provision related to $1.4 billion in crypto income; a Section 604 developer liability clause affecting DeFi; and a stablecoin interest payment issue threatening $135 million annually in Coinbase (USDC) revenue.

Prediction market Polymarket shows low passage probability, with odds dropping from 82% in February to 30% as of the current writing. Galaxy Research estimates the chance at just 10%.

Nonetheless, the crypto market has historically viewed legislative progress on such bills as positive catalysts. Previous rallies were triggered by May Senate Financial Committee vote (15-9) or White House signals regarding ethics provisions.