A lawmaker has urged the Treasury to abandon Trump’s bitcoin and crypto reserve plan, calling it a reckless scheme that enriches his allies while wasting taxpayer dollars. Lawmaker Slams Treasury for Backing Trump’s Bitcoin Reserve Scheme Congressman Gerald E. Connolly, Ranking Member of the House Committee on Oversight and Government Reform, has urged the U.S. […]
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Ripple’s XRP, one of the top-performing cryptos last year, is trading between $2.15 and $2.30. The token’s current price is a far cry from its 52-week high of $3.38 last January 17th, which was spurred by the industry’s excitement over US President Donald Trump’s reelection. Related Reading: $931 Million Bitcoin On The Move: Mt. Gox Sparks Market Jitters Although XRP joins the downtrend of the broader crypto market, a few commentators and analysts expect that Ripple is due for a major rally. According to crypto analyst Egrag Crypto, Ripple’s XRP is set for another price run after it compares the asset’s current Elliot Wave structure with its 2017 fractals. XRP Continues To Weather The Storm Egrag Crypto’s latest price analysis and projection for XRP come as the altcoin and the broader crypto market slump. The Ripple’s coin is holding steady above the critical $2 price support, which suggests it follows the broad five-wave Elliott Wave chart. Traditionally, assets replicating the Elliott Wave structure often incur significant price action. #XRP = Thread (1/7) #XRP: Double Digits This Cycle, Triple Digits Next! The thread below about #XRP was shared in the Subscribers section on February 12, 2025. We’ve built together the Full Elliot Wave Count to assess our next Targets: 🎯✨ Take an in-depth look at it! 🔍… pic.twitter.com/NKv00Y5MZD — EGRAG CRYPTO (@egragcrypto) March 12, 2025 Based on Egrag’s assessment, XRP is currently in the second wave of the Elliot Wave structure, which is traditionally defined by high price volatility and corrections. Traders And Investors Must Watch Out For The Larger Wave Structure In a Twitter/X post, Egrag explained that XRP is in its corrective wave two and is primed for a price run to double digits or even over $100. The analysts elaborated that a Wave 2 often retraces a part of Wave 1, usually matching 50%, 76% or even 85.4% of the initial movement. Ripple’s XRP, he shares, is solidifying its hold in the correction phase. The asset faces bearish pressure, and the market can expect a double bottom soon before it moves into its Wave 3. EGRAG warns that Wave 3 is the most aggressive part of the cycle, with more volatility. Can XRP Hit $100 Or More? Previously, XRP’s Wave 1 pattern submitted a huge 733% increase in price. And by using the Elliot Wave extension formula, the popular analyst projects that XRP’s Wave 3 can extend by 1.618x the gain of the first wave. Using this calculation, Egrag offers a potential surge of 1,185x, translating to XRP’s price range between $22 to $24. Once XRP hits the peak of Wave 3, the fourth wave and a price correction follows. For this wage, the retracement level ranges between 14% to 38.2% of Wave 3. If this happens, Egrag predicts that XRP’s price can drop to $8. Related Reading: TRUMP Token Takedown—Did Insiders Plan The Crash? Wave 5 of the Elliot Wave follows, where price can be predicted using three methods. First, if XRP’s price grows between 1.236% and 1.618%, the asset’s price can hit between $32 and $48. Second, if Wave 5 replicates Wave 1, the price can be between $60 and $70. Third, if there’s a 61.8% extension of the movements of Waves 1 and 3, then there’s a chance that XRP’s price can hit $100. Featured image from Medium, chart from TradingView
Ripple secured regulatory approval from a Dubai financial authority, marking its first Middle East license and positioning it as a leader in blockchain-powered payments amid growing institutional adoption. Ripple Just Got Regulatory Approval in Dubai Ripple announced on March 13 that it has secured regulatory approval from the Dubai Financial Services Authority to offer blockchain-powered […]
US state Vermont has dropped its “show cause order” against crypto exchange Coinbase for allegedly offering unregistered securities to users through a staking service.Vermont’s Department of Financial Regulation said in a March 13 order that in light of the US Securities and Exchange Commission tossing out its case on Feb. 28, it would follow suit and rescind its action against Coinbase without prejudice.“The SEC has announced the formation of a new task force to, among other things, provide guidance for the promulgation of rules regarding the regulation of cryptocurrency products and services,” the department said.Vermont’s financial regulator has decided to drop its legal action against Coinbase. Source: Vermont’s Department of Financial Regulation“In light of the dismissal of the Federal Action and likelihood of new federal regulatory guidance, the Division believes it would be most efficient and in the best interests of justice to rescind the pending Show Cause Order, without prejudice.”On the same day the SEC filed its lawsuit in June 2023, the US states of Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington and Wisconsin said they were launching legal proceedings against Coinbase.The show cause order asserted that Coinbase was violating securities laws by offering staking to its users without a license and demanded the exchange provide a reason why the courts shouldn’t hit them with an order directing them to halt the service. Now that Vermont has opted out, Coinbase chief legal officer Paul Grewal said in a March 13 statement to X that the other states with staking actions should take a “page from Vermont’s playbook.”Source: Paul Grewal“As we have always said: staking services are not securities. We applaud Vermont for embracing progress and providing clarity for its citizens who own digital assets,” he said.“Our work isn’t over. Congress must seize the bipartisan momentum we’re seeing across the House and Senate to pass comprehensive legislation that takes into account the novel features of digital assets, such as staking,” he added.Related: YouTuber says SEC will recommend dropping lawsuit over 2018 token ICOA growing number of firms facing legal action from the SEC have had their cases dismissed in the wake of former SEC Chair Gary Gensler, who took a hardline stance toward crypto, resigning on Jan. 20.Crypto trading firm Cumberland DRW was among the latest to have its case dropped on March 4, while the regulator is reportedly wrapping up its enforcement action against Ripple Labs after more than four years.Grewal has also launched a request under the Freedom of Information Act to find out how many enforcement actions were brought against crypto firms under Gensler’s tenure between April 17, 2021, and Jan. 20, 2025, and the cost to the taxpayer. Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle
US state Vermont has dropped its “show cause order” against crypto exchange Coinbase for allegedly offering unregistered securities to users through a staking service.Vermont’s Department of Financial Regulation said in a March 13 order that in light of the US Securities and Exchange Commission tossing out its case on Feb. 28, it would follow suit and rescind its action against Coinbase without prejudice.“The SEC has announced the formation of a new task force to, among other things, provide guidance for the promulgation of rules regarding the regulation of cryptocurrency products and services,” the department said.Vermont’s financial regulator has decided to drop its legal action against Coinbase. Source: Vermont’s Department of Financial Regulation“In light of the dismissal of the Federal Action and likelihood of new federal regulatory guidance, the Division believes it would be most efficient and in the best interests of justice to rescind the pending Show Cause Order, without prejudice.”On the same day the SEC filed its lawsuit in June 2023, the US states of Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington and Wisconsin said they were launching legal proceedings against Coinbase.The show cause order asserted that Coinbase was violating securities laws by offering staking to its users without a license and demanded the exchange provide a reason why the courts shouldn’t hit them with an order directing them to halt the service. Now that Vermont has opted out, Coinbase chief legal officer Paul Grewal said in a March 13 statement to X that the other states with staking actions should take a “page from Vermont’s playbook.”Source: Paul Grewal“As we have always said: staking services are not securities. We applaud Vermont for embracing progress and providing clarity for its citizens who own digital assets,” he said.“Our work isn’t over. Congress must seize the bipartisan momentum we’re seeing across the House and Senate to pass comprehensive legislation that takes into account the novel features of digital assets, such as staking,” he added.Related: YouTuber says SEC will recommend dropping lawsuit over 2018 token ICOA growing number of firms facing legal action from the SEC have had their cases dismissed in the wake of former SEC Chair Gary Gensler, who took a hardline stance toward crypto, resigning on Jan. 20.Crypto trading firm Cumberland DRW was among the latest to have its case dropped on March 4, while the regulator is reportedly wrapping up its enforcement action against Ripple Labs after more than four years.Grewal has also launched a request under the Freedom of Information Act to find out how many enforcement actions were brought against crypto firms under Gensler’s tenure between April 17, 2021, and Jan. 20, 2025, and the cost to the taxpayer. Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle
The Senate Banking Committee has advanced bills on stablecoin regulations and financial fairness, aiming to protect consumers, strengthen security, and prevent politically motivated debanking. Key Bills on Stablecoins and Financial Fairness Advance The U.S. Senate Committee on Banking, Housing, and Urban Affairs advanced two major pieces of legislation aimed at regulating stablecoins and preventing politically […]
Fifty-two days have passed since bitcoin reached its all-time peak, and on Thursday, the leading cryptocurrency dipped below the $80,000 threshold as apprehension grew over the objectives and repercussions of Donald Trump’s trade war. Bitcoin Falls, Stocks Stumble: Investors Flock to Gold and Treasuries Markets, once electrified by the early enthusiasm surrounding U.S. President Trump’s […]
I find it ironic that crypto was originally celebrated as anti-establishment and decentralized. Now, the entire market’s price is dictated by what the US Fed Chair says at his next FOMC meeting. Literally letting a centralised entity dictate the entire fate of supposedly ‘decentralised’ assets. Before you tell me I don’t understand economics or that…
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XRP bulls are making a strong push, but the $2.2546 resistance level is proving to be a tough barrier. After a steady upward climb, buying momentum has weakened as sellers step in to defend this key level. A successful breakout could signal a continuation of the uptrend, driving XRP toward new highs and reinforcing positive sentiment in the market. However, if buyers fail to overcome this hurdle, XRP may face a pullback, with traders eyeing lower support levels for stability. Market participants are closely monitoring whether the bullish momentum is strong enough to push past the resistance or if selling pressure will force a temporary retreat. Market Sentiment And XRP’s Resistance Struggle Market sentiment remains a key factor in XRP’s ongoing battle against the $2.2546 resistance level. While bulls try to drive the price higher, the lack of strong follow-through suggests lingering uncertainty among traders. The resistance level has become a critical test, with buyers needing to sustain momentum to confirm a breakout. Related Reading: XRP Faces Bearish MVRV Crossover—Price Plunge To Continue? Broader market conditions, including Bitcoin’s movement and overall investor confidence, are influencing XRP’s price action. A surge in trading volume and renewed buying pressure could provide the necessary strength for a breakout. However, if sellers continue to defend this level, XRP may struggle to gain further ground, leading to potential profit-taking and a short-term pullback. Furthermore, after crossing above the 50% mark, the RSI is now dipping below it, creating uncertainty among traders. This shift reflects a tug-of-war between buyers and sellers, leaving XRP in a state of market indecision. Without a clear directional push, price movement could remain volatile as traders await stronger signals for the next move. For the bulls to regain control, market sentiment must shift decisively in their favor, with technical indicators aligning to support an upward push. Until then, XRP remains at a crossroads, with both breakout and rejection scenarios still in play. Breakout Potential: What Needs To Happen? For XRP to break above the $2.2546 resistance level, bulls must generate strong momentum backed by increasing buying pressure. A sustained push beyond this critical level, confirmed by a decisive daily close, might set the stage for further gains. Its ability to stabilize above $2.2546 may attract more traders looking to ride the breakout, potentially driving the price toward higher targets such as $2.6482 and $2.9272. Related Reading: XRP Faces Make-Or-Break Moment Amid Bearish Threat Also, XRP’s price must break above the 100-day SMA, and the RSI needs to rise above the 60% threshold. Breaking above these levels could pave the way for more growth, while failure to do so may leave XRP vulnerable to consolidation or a pullback. Featured image from Pexels, chart from Tradingview.com
