Democrats Take Control of Congress as Bitcoin and XRP Rise

Democrats were projected to control both chambers of Congress after Tuesday’s midterm elections, putting the future of U.S. crypto legislation in focus as Bitcoin and XRP traded higher early Wednesday.

At about 4:50 a.m. ET (09:50 UTC) Wednesday, Bitcoin (BTC) was quoted in U.S. dollars at $78,398.04, up 2.09% over 24 hours. XRP was $1.27, up 2.1% on the same rolling window. Because those 24-hour figures include trading before election calls, they do not isolate a market response to the results.

The incoming Congress will face an unresolved path for the Digital Asset Market Clarity Act, a proposed framework for federal digital-asset market rules. The House passed the measure 294-134 in July 2025, with 78 Democrats voting in favor. A Senate motion to advance it failed 49-50 on Sept. 15, 2026.

Before the election, Zach Pandl, Grayscale head of research, wrote, “Elections can affect crypto on the margin, just like other asset classes.”