Crypto market update August 7: Cardano jumps while XRP slips as crypto ETF inflows near $1 billion

The cryptocurrency market is trading mixed today as investors balance strong ETF demand against ongoing regulatory uncertainty in the United States.

Bitcoin (BTC) is holding close to $65,000, while Ethereum (ETH) continues moving toward the important $2,000 resistance level. At the same time, Cardano (ADA) is the best-performing major altcoin, whereas XRP remains under selling pressure.

Despite the mixed price action, institutional interest remains strong. Spot Bitcoin and Ethereum ETFs have attracted nearly $1 billion in combined inflows this week, showing that investor demand for crypto exposure remains healthy.

Missed yesterday's market action? Read our Crypto Market Update August 6 to see how Bitcoin approached $65K, Ethereum gained momentum, and Pi Network led the market before today's trading session.

Bitcoin and Ethereum Hold Firm as ETF Demand Grows

Bitcoin is trading around $64,900, while Ethereum has climbed to roughly $1,913.

One of the biggest reasons behind today's resilience is continued buying through spot ETFs.

According to SoSoValue:

• Bitcoin ETFs have recorded approximately $784 million in inflows this week.
• Ethereum ETFs have added another $195 million.
• Combined inflows have reached nearly $984 million over the past several trading days.

The steady inflows suggest institutional investors continue accumulating both assets despite broader market uncertainty.

Some analysts also point to easing geopolitical tensions as another factor helping improve investor sentiment.

Cardano Leads Today's Gains

Cardano is outperforming most major cryptocurrencies today after gaining more than 7%.

The rally comes even though activity across Cardano's DeFi ecosystem has recently slowed.

From a technical perspective, ADA has now moved above its 100-day Simple Moving Average (SMA), an important resistance level that traders closely watch.

If Cardano manages to remain above this level over the coming sessions, analysts believe the price could continue moving toward $0.21.

However, momentum indicators also suggest buyers may be becoming overextended, meaning short-term profit-taking remains possible.

XRP Remains Under Pressure

Unlike Cardano, XRP continues to trade lower.

The decline comes as uncertainty grows around the CLARITY Act, one of the most important crypto regulation bills currently under review in the United States.

The U.S. Senate recently delayed a vote on the legislation until September, reducing hopes that new crypto market rules will arrive before Congress' summer recess.

Prediction platform Polymarket now estimates only a 14% chance that the CLARITY Act will become law in 2026.

This uncertainty has weighed on several U.S.-focused crypto assets, including XRP.

Related: The Senate has officially delayed the CLARITY Act vote until September. Read our full coverage to understand what this means for Bitcoin, XRP, and the broader crypto market.

Crypto Market Snapshot

At the time of writing:

Derivatives Market Shows Mixed Sentiment

The derivatives market presents a mixed picture.

According to CoinGlass:

• Total crypto open interest has increased to approximately $116 billion.
• Bitcoin accounts for around $49 billion of that figure.
• Ethereum represents another $26 billion.
• Total liquidations have exceeded $180 million during the past 24 hours.

Although overall futures trading volume has fallen compared to yesterday, Cardano has attracted significantly more activity.

ADA futures volume has jumped more than 120%, indicating growing trader interest as prices move higher.

Technical Outlook

Bitcoin (BTC)

Bitcoin continues trading above its short-term moving averages and remains close to the important $65,000 resistance level.

A move above this level could improve market confidence, while failure to break higher may keep BTC trading within its current range.

Ethereum (ETH)

Ethereum continues building momentum after reclaiming the $1,900 level.

A sustained move above this area could open the door for another test of the $2,000 psychological resistance.

Cardano (ADA)

ADA's breakout above the 100-day SMA is encouraging for bulls.

If buyers maintain control, the next upside target sits around $0.21.

However, momentum indicators suggest the rally may begin slowing if buying pressure fades.

XRP

XRP continues showing weakness after several consecutive days of selling.

If bearish momentum continues, the token could fall below the $1.00 support level.

A recovery above recent resistance would be needed before sentiment improves.

What's Next for Crypto Markets 

Bitcoin continues to hold just below the important $65,000 resistance level while Ethereum is pushing closer to $2,000. At the same time, Cardano's breakout has made it one of today's strongest performers, whereas XRP remains under pressure as uncertainty around the CLARITY Act continues.

Institutional demand remains a positive signal, with spot Bitcoin and Ethereum ETFs attracting nearly $1 billion in weekly inflows. If ETF demand stays strong and macroeconomic conditions remain stable, the crypto market could continue building momentum in the coming days.

Investors will now be watching whether Bitcoin can finally break above $65,000, whether Cardano can sustain its rally, and if XRP can recover once regulatory uncertainty begins to ease.