XRP reaches a new all-time high! The U.S. Congress passes three major encryption bills, BTC returns to $120,000 (including regulatory updates and price predictions)

The rare bipartisan effort in the U.S. Congress to promote cryptocurrency regulatory reform led to the passage of the "GENIUS Act," "CLARITY Act," and "Anti-CBDC Surveillance Act" in one day, causing XRP to soar to a historical high of $3.6004. BTC was boosted by favourable economic data and continued inflows into ETFs, returning to the $120,000 mark. This article analyzes the impact of regulatory breakthroughs on the Ripple (XRP) lawsuit, the flow of funds into spot ETFs, and forecasts key short-term price catalysts.

Congressional Legislative Breakthrough: Results of the Vote on Three Major Crypto Assets Bills

On July 17, the U.S. House of Representatives passed three key cryptocurrency regulation bills with overwhelming bipartisan support, marking a shift in digital asset policy:

• "CLARITY Act" (Digital Asset Market Structure Act): 294 votes in favor vs 134 votes against (78 Democrats in support)
• The GENIUS Act (Stablecoin Regulatory Framework): 301 votes in favor vs 122 votes against (102 Democrats supported)
• "Anti-CBDC Surveillance Act": 219 votes in favor vs 210 votes against (2 Democrats supported)

House Financial Services Committee Chairman Patrick McHenry emphasized: "The CLARITY Act has received bipartisan support, laying a substantive foundation for the construction of a regulatory framework for digital assets in the United States."

XRP surged by 14.69%! Favourable Information from regulators may force the SEC to abandon its appeal.

• Price Dynamics: XRP has risen sharply for two consecutive days, with a single-day increase of 14.69% on July 17, closing at 3.4864 USD; on the morning of July 18, it surged to a historical high of 3.6004 USD.
• Regulatory Relevance: The "CLARITY Act" explicitly transfers the primary regulatory authority over crypto assets to the CFTC, weakening the SEC's legal basis in the Ripple lawsuit. If the SEC insists on appealing during the advancement of the Act, it will create a policy contradiction.
• SEC Movements: The closed-door meeting of the SEC on July 17 has sparked "speculations about withdrawal of the lawsuit", with the market betting that it may abandon its appeal against the ruling that "XRP programmatic sales do not constitute securities."

XRP Price Trend Prediction:

• ✅ Bull Market Scenario: After breaking through $3.6004, the target looks at $4 and even $5 levels.

• ❌ Pullback Risk: If it falls below the support of $3.5, or retreats to the weekly low of $2.8056.

  

Bitcoin Returns to $120,000: Economic Data and ETF Fund Flows Drive Dual Forces

• Favourable Information: U.S. retail sales increased by 0.6% month-on-month in June (previous value -0.9%), and initial jobless claims fell to 221,000, easing concerns about an economic recession.

• ETF Capital Inflow: The US Bitcoin Spot ETF has seen a net inflow for 10 consecutive days (data as of July 16), accumulating a total of $799.4 million. Key fund dynamics:

  • Fidelity FBTC: Net inflow of 10.4 million USD on July 17
  • Grayscale BTC: Net inflow of 5.3 million USD
  • VanEck HODL: Net inflow of $5.1 million

• Price Performance: BTC rose 0.39% on July 17, closing at $119,102, with an intraday high of $120,812.

  

Analysis of Key Variables for BTC:

• 🔻 Favourable Information Combination: Delay in bill advancement + Decline in consumer confidence + Hawkish statements from the Federal Reserve + Outflow of ETF funds → May drop towards $115,000 (testing the 50-day moving average).

• 🔺 Favourable Information Combination: Regulatory breakthroughs + Strong economic data + Dovish Federal Reserve + Continuous inflow of ETF → Expected to test historical high of $122,057 again.

  

Crypto Assets market monitoring list: Core focus points for the upcoming week

1. Ripple Case Judicial Dynamics: Has the SEC officially withdrawn its appeal against the ruling on the programmatic sales of XRP?
2. Legislative Process: Will the three major crypto bills pass quickly in the Senate?
3. Macroeconomics: US Consumer Confidence Index & Federal Reserve Interest Rate Policy Signals.
4. ETF Capital Flow: Can the BTC Spot ETF continue the "11-day net inflow" record? The capital flow of the Ethereum Spot ETF (July 17 single-day inflow set a record).

Conclusion

Congressional regulatory thaw and continuous institutional capital influx are reshaping the market ecology of Crypto Assets. XRP, buoyed by the expectation of clearer regulation, is leading the altcoin rally, while Bitcoin continues its strong performance supported by traditional financial channels (ETF) and improvements in the macro economy. Investors need to closely monitor three key indicators: SEC appeal decisions, Senate bill votes, and ETF capital flows, capturing structural opportunities in a volatile market.