Crypto News Today July 1 : Trump Musk, Big Beautiful Bill, Ripple (XRP) Price and Pi Network

From being sued and sidelined to now nearing Wall Street legitimacy—XRP’s comeback story is gaining momentum. Bloomberg has increased the chances of a spot XRP ETF approval to a whopping 95%. Once dismissed as a regulatory target, XRP is now seen as a serious player in institutional finance. As one crypto watcher put it: “XRP wasn’t the villain. It was the prologue.”

Ripple CEO Brad Garlinghouse showed his strong support for XRP by sharing a photo of a new XRP logo tattoo on his forearm. The post went viral after crypto influencer Digital Asset Investor shared it, noting that a Harvard MBA holder over 50 getting a tattoo is a serious sign of long-term belief—not just a random act. Garlinghouse simply replied with, “1,000%.”

On July 1, 2025, Bitcoin is trading at $106,537, showing slight weakness after a failed breakout above $108,800. Intraday range remains narrow, with support at $106,000 and resistance near $108,000. Technical indicators suggest mixed momentum, while longer-term moving averages remain bullish. Traders expect increased volatility this July, especially if BTC breaks below $106K or climbs past $108K. Market sentiment is cautious, with short-term bearish bias.

The crypto market is down today mainly due to heavy selling by miners, ongoing high interest rates from the US Federal Reserve, and negative sentiment sparked by the public feud between Elon Musk and Donald Trump. Additional factors include large whale sell-offs, leveraged liquidations, and cautious investor sentiment, leading to widespread declines across top cryptocurrencies.

DOGE is reportedly urging the SEC to ease regulations on SPACs and private fund reporting, aiming to lower compliance costs and streamline public listings. The move follows Trump’s February executive order directing DOGE to identify and eliminate costly federal regulations. Critics warn the changes could reduce transparency and increase risk, raising concerns about political interference in financial oversight.

No — as of July 1, 2025, the Senate has not passed the “Big Beautiful Bill.” Republicans remain locked in a marathon “vote‑a‑rama” on amendments, working feverishly to secure a majority. GOP unity is fractured between moderates and conservatives, and key provisions—like state-level AI regulation bans—have already been stripped out. With no final Senate vote yet and the July 4 deadline looming, its passage remains uncertain.