Regulatory Scrutiny Targets Prediction Markets While XRP Faces Persistent Downtrend
Regulatory Scrutiny Targets Prediction Markets While XRP Faces Persistent Downtrend
A U.S. Senator is moving to introduce legislation to ban prediction markets, citing concerns over corruption and insider risks. Concurrently, XRP has been under significant pressure since early 2026, experiencing a steady downtrend and failing to reclaim key resistance levels. This market weakness is attributed to broad weak macro sentiment and geopolitical tensions impacting the wider crypto market.
U.S. Senator Targets Prediction Markets with Proposed Ban
U.S. Senator Chris Murphy has announced plans to introduce legislation aimed at banning prediction markets. Senator Murphy asserts that these markets are inherently 'corrupt and destabilizing,' raising alarms about their potential for facilitating war bets and creating insider risks. This legislative push underscores a growing trend of regulatory scrutiny across various sectors of the digital economy, potentially impacting platforms that leverage blockchain or cryptocurrency for such functionalities.
XRP Price Analysis Reveals Sustained Downtrend Amid Market Headwinds
In parallel, the cryptocurrency market continues to exhibit fragility, as evidenced by the performance of XRP. The altcoin has been caught in a steady downtrend since the beginning of 2026, struggling to break past major resistance levels despite various market analyses. This prolonged period of underperformance is largely attributed to overarching weak macro sentiment and ongoing geopolitical tensions, which have collectively limited upside momentum not only for XRP but for the broader crypto market as well. Historical and on-chain indicators are being closely watched for any signs of a potential reversal.