Bitcoin trades near $63,000, half its October record, while XRP holds the $1 level by a single cent after losing roughly 73% from its own peak. Four events this week — a White House meeting, Federal Reserve minutes, a first CFTC panel and Japanese economic data — could decide whether either token breaks out of its current range.
Bitcoin trades near $63,000, about half its October record of $126,080, while XRP has slipped below $1.00 to become the sixth-largest token by market value. Both slipped further over the past week, with Bitcoin down 3.2% and XRP down 3.8%, extending a stretch neither has escaped in weeks.
Trump's White House Meeting Puts a Stalled Bill Back in Focus
Trump is expected to attend a White House meeting with crypto executives on Wednesday, alongside SEC Chairman Paul Atkins and CFTC Chairman Michael Selig. Executives from Coinbase, Ripple, Kalshi and Polymarket are on the guest list.
The agenda centers on the Digital Asset Market Clarity Act, which would settle which regulator oversees which token. The House passed the bill on July 17, 2025, by 294 votes to 134, with no Republican opposition and 78 Democrats in support, but the Senate has not scheduled a vote, pushing the decision to September.
XRP has tracked the bill more closely than any other major token. Its record high of $3.65 came roughly ten minutes after the House vote, and the token has fallen about 73% since.
Fed Minutes and a First CFTC Panel Follow on Wednesday and Thursday
Minutes from the Fed's July meeting arrive Wednesday at 2 p.m. ET, covering a session where policymakers left rates at 3.5% to 3.75% in a 9-3 vote. Fed funds futures currently put the odds of a September rate hike near 32%, and minutes showing wider support for tightening could move that number, pulling money away from riskier assets such as crypto. A second read follows Friday, when S&P Global publishes flash estimates of US business activity.
The CFTC opens its first Innovation Advisory Committee session on Thursday. Ripple CEO Brad Garlinghouse sits among the panel's 35 members, alongside executives from Coinbase, Kraken, CME Group and Nasdaq. The SEC and CFTC sorted crypto into five buckets in March, placing digital commodities under CFTC oversight — a label that matters more for XRP than for Bitcoin, which regulators have treated as a commodity for years.
Japan's Data and the Yen Carry Trade Loom Over Both Tokens
Japan reports second-quarter growth on Monday, with ING forecasting a 0.5% quarterly gain. July inflation data follows on Friday, which ING expects at 2.0%, in line with the Bank of Japan's target. Both feed into the Bank of Japan's September 18 meeting, where traders price roughly 80% odds of another rate hike, more than double the odds traders assign the Fed.
A stronger yen squeezes the carry trade, in which investors borrow cheap yen to buy higher-returning assets elsewhere. Bitcoin has fallen between 20% and 31% after each of the BOJ's recent rate hikes. Apollo Global Management argues that pattern may no longer hold, noting Bitcoin barely moved this month even as the yen jumped more than 5% in two sessions.
Four catalysts now have five trading sessions to give Bitcoin and XRP a reason to break out of their range.
Source: BeInCrypto
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