XRP and Bitcoin prices weakened over the past 24 hours as the White House prepared to review a bipartisan CLARITY Act ethics proposal this weekend. XRP exchange-traded funds kept extending net inflows even as spot Bitcoin funds shed $265 million, led by outflows from BlackRock's IBIT.
Bitcoin fell 1.97% to $63,069 during the past 24 hours, while XRP declined 1.41% to $1.07 as the broader crypto market lost 1.51% to $2.16 trillion. Traders pulled back as they weighed macroeconomic uncertainty alongside a looming White House review of the CLARITY Act's ethics compromise.
White House Review Could Revive Stalled CLARITY Act
The White House is expected to review a bipartisan ethics proposal for the CLARITY Act this weekend, and President Trump's reaction may determine whether Senate leaders move the bill to a cloture vote next week. Lawmakers have only six days before leaving Washington for summer recess, adding pressure to the negotiations.
Under the proposal, state attorneys general could challenge the Justice Department over unenforced federal ethics rules, a provision tied to a Democratic concern that could revive the stalled market structure bill. Advancing it would still need 60 Senate votes, or at least seven Democrats joining Republicans, and political divisions remain the biggest hurdle. Polymarket data puts the CLARITY Act's chance of becoming law in 2026 at 27%, a likelihood that has just dropped 38%.
XRP ETFs Keep Adding Inflows as Bitcoin Funds Bleed
XRP ETFs kept extending their inflow streak. The funds added $7.69 million in net inflows on July 31, pushing cumulative inflows to $1.51 billion. Bitwise contributed the largest share at $7.12 million, while Franklin Templeton added $576,520, and total daily trading value across the funds reached $8.62 million with net assets at $988.78 million.
Spot Bitcoin ETFs, however, recorded a combined $265 million in net outflows over the same session, led by a $123 million withdrawal from BlackRock's IBIT. Spot Ethereum ETFs bucked the trend with net inflows of $9.03 million.
Bitcoin and XRP Test Key Support Levels
Bitcoin is testing a key support level near $63,000. Holding that zone may help the coin consolidate before another attempt to reach $65,000, and increased buying pressure could extend the rebound to $65,800. A clear break below $63,000, though, could expose Bitcoin to $62,800, with sustained selling pushing it toward $62,000.
XRP continues to trade above a Fibonacci support level between $1.04 and $1.05, a range that would let the token retest $1.10. Failure to hold it could send the price back down to $1.00.
Source: CoinGape
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