Market Overview: The U.S. Congress passes multiple encryption bills! XRP hits a new high, and the Bitcoin ETF continues to attract investment.

On July 17, 2025, Capitol Hill became a "cryptocurrency paradise" as multiple important encryption legislations received bipartisan support and were passed by vote. XRP subsequently experienced a big pump, breaking its historical highest price to $3.6004. The market generally expects that these legislations will have a positive impact on the Ripple case, marking a key step in the U.S. regulation of digital assets.

Four bills passed, parliamentary attitude "180-degree turn" On that day, the U.S. House of Representatives passed the following key bills:

• CLARITY Act (Cryptocurrency Market Structure): 294 votes in favor, 134 votes against, with 78 Democratic members voting in favor.
• GENIUS Act (Support for Encryption Innovation): 301 votes in favor, 122 votes against, with 102 Democratic members in support.
• Anti-CBDC Regulatory Surveillance Bill: 219 votes in favor, 210 votes against, with only 2 Democratic members supporting.
• The stablecoin regulatory bill has also been passed.

House Financial Services Committee Chairman Patrick McHenry stated, "The CLARITY Act passed with overwhelming votes, marking that we are accelerating the construction of the regulatory framework for digital assets in the United States."

XRP rises 14.69%, reaching a new high of 3.6004 USD After the bill was passed, the price of XRP surged to a historic high of $3.6004 in the morning of July 18, rising 14.69% during the day. The previous day, it also rose by 4.11%, closing at $3.4864. XRP's performance far exceeded the overall encryption market's rise of 1.78%, with the total market capitalization increasing to $3.81 trillion.

Investors are optimistically expecting that the SEC may withdraw its appeal against Ripple's "programmatic sale" case, further stimulating the rise of XRP.

Price Outlook: $4 in sight, can $5 keep up? If XRP holds steady at 3.6004 dollars, the next target may be 4 dollars, with further upside possibly challenging the 5 dollar mark. If it falls below 3.5 dollars, it may test this week's low of 2.8056 dollars.

Bitcoin breaks through $120,000, US economic data boosts confidence Meanwhile, the price of Bitcoin rose from a low of $117,389 on July 17 to $120,812, boosted by a 0.6% increase in U.S. retail sales in June and a decrease in initial jobless claims (to 221,000). Improved economic data eased recession fears and enhanced market risk appetite.

Gate.io data shows that BTC is currently at $117,844.9, with a slight decrease of 0.02% in the last 24 hours.

The BTC spot ETF has a strong capital inflow momentum, with a net inflow for eleven consecutive days The US spot Bitcoin ETF continued its net inflow trend on July 17, with inflows for 11 consecutive days, totaling $1.57 billion, of which:

• BlackRock (IBIT): $7.639 million
• Fidelity (FBTC): 10.4 million dollars
• Grayscale Mini Trust (BTC): 5.3 million USD
• VanEck (HODL): 5.1 million USD

Nate Geraci, president of The ETF Store, stated: "In the past 24 hours, the US has passed encryption legislation, the ETH spot ETF has reached a new high, and XRP has hit an all-time high; this is 'Crypto Week'."

BTC Price Outlook: Focus on ETF, Legislation, and Federal Reserve Signals The short-term trend of Bitcoin depends on the following factors:

• Progress and Implementation of Congressional Encryption Legislation
• SEC's change of attitude towards the Ripple case
• ETF fund flow and consumer confidence index
• Does the Federal Reserve signal a dovish or hawkish stance?

If legislation is delayed, consumer data is poor, the Federal Reserve's stance is tough, or ETFs experience capital outflows, BTC may drop back to $115,000; on the contrary, if legislation goes smoothly, consumption is strong, and ETFs continue to see inflows, BTC may challenge the historical high of $122,057.

Conclusion: As the U.S. Congress advances encryption reforms, XRP and BTC prices have reached new highs, significantly boosting market confidence. Future trends will continue to be influenced by legislative progress, ETF liquidity, and regulatory signals. Crypto investors should keep a close eye on these core variables to seize the potential upcoming new market cycle.