New York, Jan 15, 2026, 17:18 EST — Trading in after-hours.
XRP dropped roughly 3.3% to $2.07 late Thursday, having earlier reached $2.14. Bitcoin slid 1.9%, while ether dipped 2.1%, adding pressure on the wider crypto market.
The pause came after U.S. lawmakers delayed a key Senate Banking Committee session on a crypto market-structure bill, which investors had counted on to sustain regulatory momentum. The committee postponed the markup—a session to debate and vote on amendments—following comments from Coinbase CEO Brian Armstrong, who said the draft contained “too many issues” for the exchange to back. Senate Banking Chairman Tim Scott responded that “everyone remains at the table working in good faith.” 1
The bill, rolled out late Monday, aims to clarify when crypto tokens qualify as securities, commodities, or other types, while boosting the Commodity Futures Trading Commission’s authority over spot crypto markets—a long-standing request from the industry. Banking groups have pushed back on parts related to “stablecoin rewards,” and Blockchain Association CEO Summer Mersinger accused “the… Big Banks” of attempting to reshape the bill to shield established players. 2
Ripple and LMAX Group announced a strategic partnership outside Washington, aiming to integrate Ripple USD (RLUSD) as collateral across LMAX’s trading platform. Ripple is backing the move with $150 million in funding. LMAX CEO David Mercer described the agreement as a “milestone,” while Jack McDonald, Ripple’s head of stablecoins, said it should “accelerate” RLUSD adoption among institutional players. 3
Ripple, the payments company linked to XRP, announced Wednesday it has received preliminary approval for an electronic money institution licence from Luxembourg’s CSSF. This move sets the stage for Ripple to broaden its Ripple Payments network across the EU. Ripple President Monica Long highlighted that EU regulations “provide the certainty” financial institutions require. The firm also revealed its payments division has handled over $95 billion in volume so far. 4
Neither update managed to steady XRP on Thursday. Traders stuck with familiar cues — bitcoin’s moves and the ongoing uncertainty around U.S. regulatory clarity.
Stablecoins are tokens meant to mirror currencies like the U.S. dollar. The debate in Congress centers on whether crypto platforms should be allowed to offer rewards on stablecoin holdings. Banks argue these rewards resemble interest and risk siphoning deposits from traditional banking.
The risk for XRP bulls is clear: the Senate bill might stall or return with a narrower scope, keeping the industry stuck in the same legal uncertainty that has driven price swings for years. Wins in corporate courts matter, but ultimately Washington calls the shots.
The Senate Agriculture Committee announced it plans to release its legislative text by the end of business on Jan. 21, with a markup scheduled for Jan. 27 at 3 p.m. These dates are set even though the Senate Banking Committee’s revised schedule is still uncertain. 5
Traders are eyeing potential changes to the wording on stablecoin rewards and how regulatory oversight might be divided between the SEC and CFTC — plus whether Coinbase flips from critic to supporter.
