XRP and Bitcoin Price outlook improved this week as traders returned to major crypto assets. Bitcoin price rose over $62,000 and briefly topped $63,000, the highest point in two weeks. XRP also gained nearly 10% over seven days, while trading around $1.13.
The rally came after less aggressive jobs data, which alleviated inflation concerns and favored risk demand.
CLARITY Act Progress Faces Senate Timing Test
Senator Cynthia Lummis repressed efforts to push the CLARITY Act. The bill aims to introduce more transparent regulations to digital asset markets in the United States.
The measure has passed the House and cleared the Senate Banking Committee. Nevertheless, it has yet to receive a Senate vote, which would bring it closer to legislation.
July has turned out to be significant as the Senate has a limited policy window before August recess. The bill might have a longer journey to 2027 should lawmakers take a long time in taking action.
Lummis has provided an opportunity to have a final review of revised bill text, as well. It was reported that the updated version was likely to come around July 4.
Polymarket shows a 51% chance the CLARITY Act becomes law in 2026, down 14%, with $1.52 million volume overall today.
XRP and Bitcoin Price Outlook
The movement of XRP and Bitcoin Price is now based on macro data and policy momentum. The next market signal the traders will be monitoring is the U.S inflation figures.
Bitcoin long-term prediction needs to hold above $62,000 to keep short-term buyers active. A more robust breakout of the above $63,500 would open space to reach $65,000.
However, fresh selling may return if Bitcoin loses the $60,000 support area. That would undermine the recovery and retard the greater market confidence.
XRP is among the most robust large-cap tokens following its weekly upswing. Another push to $1.20 may be backed by a hold higher than 1.10.
Nonetheless, XRP could experience pressure in the event of slow Senate progress or the loss of market volume. The CLARITY Act is one of the primary drivers of digital assets.
Bitcoin ETF Inflows Hit $221M as XRP Demand Grows
The price trends of XRP and Bitcoin remained stable as the U.S. spot ETFs demand was active again on July 2.
Bitcoin spot ETFs saw daily net inflows of $221.72 million with cumulative inflows of $51.08 billion. The value traded was total of $2.13 billion, and net assets were approximately $74.37 billion.
The FBTC of Fidelity started the Bitcoin inflows with $165.90 million, and Ark 21Shares with $91.84 million. Nevertheless, BlackRock IBIT had a daily outflow of $40.43 million with a net asset of $44.91 billion.
Meanwhile, U.S. XRP spot ETFs recorded a net inflow of $6.55 million each day. They had a cumulative net inflow of 1.49 billion, and total assets of approximately 987.91 million.
Bitwise’s XRP fund led activity with $6.55 million in inflows. The data indicate that ETF demand is positive prior to CLARITY Act changes.