Forex Signals Brief January 27: FED, ECB and BOC Meetings and Tariff Talk Highlight the Week

Posted on January 27, 2025January 26, 2025 by Skerdian Meta

This week we have the FED, BOC, and ECB meetings, with the last two expected to cut interest rates, while markets are also expecting some tariff talk from Donald Trump, after announcing tariffs and sanctions on Colombia over the weekend.

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Ripple’s XRP Crash After Trump’s Trade Tariffs

Posted on January 27, 2025 by Olumide Adesina

XRP and the altcoin market dipped greatly after President Donald Trump imposed trade tariffs on Colombia which rattled risk appetite and sent the token below the $3 support line.

Trump imposed tariffs and visa restrictions on the third-most populous nation in Latin America on Sunday following the rejection of two US military planes carrying deportees by Colombian President Gustavo Petro.

The crypto market went parabolic after Trump posted on his social media platform, Truth Social, that the United States would immediately impose a 25 percent “emergency” tariff on all imports from Colombia, which would rise to 50 percent within a week. After Trump’s remarks, Petro quickly announced retaliatory tariffs of up to 50%.

In addition, Trump declared that he would strengthen border checks on all Colombian citizens and goods and impose “travel ban and immediate visa revocations” and “visa sanctions” on government officials, their families, and supporters.

“These actions are only the start. Trump declared, “We will not permit the Colombian government to disregard its legal duties regarding the reception and repatriation of the criminals they compelled to enter the United States.”.

Ripple’s XRP declined 5% in Monday’s morning trading session. Several technical analyses and on-chain indicators point to waning momentum among bullish traders, which coincides with the decline. The Moving Average Convergence Divergence (MACD) indicator confirmed a bearish crossover.

This change occurred just two weeks after the bullish momentum that propelled XRP to its most recent all-time high. The MACD’s bearish crossover indicates that the overall market momentum is starting to wane. XRP’s price is under high selling pressure amid little fresh buying pressure or encouraging market signals.

The sustainability of recent bullish trends has begun to be questioned due to uncertain trading conditions. If the current trend persists, experts warn that the bearish momentum may trigger additional price corrections.

Market participants will keep a close eye on them because trading patterns and market sentiment will be key factors in determining the asset’s future trajectory.

Ethereum Launches Etherealize To Boost Institutional Adoption

Posted on January 26, 2025 by Olumide Adesina

Ethereum started a brand-new project called Etherealize to boost institutional adoption. The goal is to increase the network’s visibility in conventional financial markets and market it to institutional investors. The Bloomberg report claims Vitalik Buterin is a major contributor to the Etherealize project.

Etherealize wants to support exchange-traded fund issuers, mainstream financial institutions, and the general public about the Ethereum ecosystem.

The company intends to increase ETH’s visibility in financial markets, much like Bitcoin has, by positioning itself as a content hub and a developer of institutional tools.

Crypto investor and decentralized finance researcher Raman emphasized Ethereum’s distinct place in the cryptocurrency market in an interview with Bloomberg, calling it the “only blockchain that stood the test of time.”.

He emphasized the network’s capacity to satisfy institutional requirements for safety, security, and dependability and said that more outspoken supporters are required to push for its implementation on Wall Street.

A product suite will be developed as part of Etherealize’s endeavors to produce additional applications for institutional use.

The emphasis will be on safely tokenizing and trading valuable assets on the Ethereum blockchain.

According to the project, Ethereum is a perfect candidate for further involvement in the financial sector because of its wide asset base, regulatory standing, and expanding institutional adoption.

Etherealize’s debut coincides with heightened scrutiny of the Ethereum Foundation. Concerns have been expressed regarding its efficacy and leadership during the last week. The blockchain has been criticized for lagging behind other industry projects like Solana and XRP, according to comparisons made by critics.

World’s Richest Man Plans Using Blockchain To Audit U.S Government

Posted on January 26, 2025 by Olumide Adesina

Elon Musk, the world’s richest man, plans to implement blockchain technology at the new Department of Government Efficiency.

As the talks haven’t been made public, one of the people, who asked to remain anonymous, claimed that Musk, the leader of the DOGE effort, has discussed with close allies the possibility of using a digital ledger to cut government expenses.

Using a blockchain to secure data, make payments, track federal spending, and even manage buildings has been discussed, according to the people. To assess their technology, DOGE representatives have met with representatives of other public blockchains, according to someone familiar with the discussions.

The discussions make sense because Musk’s department name is a playful allusion to Dogecoin, a cryptocurrency that runs on its blockchain.

Additionally, President Donald Trump has been implementing cryptocurrency-friendly policies swiftly. A working group on digital assets comprising important members of his administration was established by an executive order he signed on Thursday. To increase government productivity and efficiency, DOGE was established by Trump’s executive order on January 20 and is tasked with updating federal software and technology.

Trump has stated that by July 4, 2026, the group will complete its recommendations and identify spending cuts in collaboration with the White House Office of Management and Budget. Before Trump took office, Musk recruited roughly 100 volunteers to write code for his projects.

Musk and his team might attempt to use the blockchain among other technological tools, to reduce expenses and tame fraud, abuse, and wasteful spending, a major campaign issue for Trump in 2024. The nation’s growing deficit has been criticized by Trump, who attributes a large portion of it to policies and initiatives put in place by his predecessor.

BlackRock’s Bitcoin Stash Worth $60 Billion

Posted on January 25, 2025 by Olumide Adesina

BlackRock’s iShares Bitcoin Trust (IBIT) currently has $60 billion in Bitcoin holdings, with 574,118.84380 BTC listed on the ETF’s balance sheet. BlackRock is now one of the largest institutional Bitcoin holders, even outpacing the well-known holdings of MicroStrategy.

Market participants are also discussing the potential of Bitcoin after CEO Larry Fink suggested that if more institutions adopt it, the price target could reach $700,000. BlackRock’s massive $60 billion Bitcoin investment, about 2 percent of Bitcoin’s supply, can alter the crypto market dynamics and how prices are determined.

This narrative could encourage other institutions to adopt cryptocurrencies and develop new ones to address particular requirements. Additionally, it’s a game changer for individual investors as well. Market participants are curious about how to capitalize on this expansion with platforms like IBIT drawing in institutional capital

The IBIT ETF has been outperforming its rivals and receiving consistent inflows amid Bitcoin’s high volatility. Although Fink’s upbeat assessment is consistent with the increasing interest from institutions, some skeptics maintain that regulatory scrutiny and macroeconomic difficulties may still be important variables to keep an eye on.

Although BlackRock’s primary cryptocurrency investment is still Bitcoin, its $4 billion Ethereum ETF (ETHA) demonstrates a larger strategy to diversify into digital assets. The World’s largest asset manager’s focus on Bitcoin and Ethereum indicates that they believe blockchain will play a significant role in the financial industry.

XRP is Anti-Bitcoin

Posted on January 25, 2025January 25, 2025 by Olumide Adesina

Pierre Rochard, vice president of research at Riot Platforms recently stated that Ripple poses a greater threat to the Strategic Bitcoin Reserve (SBR) than the Fed, Treasury, or banks.

According to Rochard, Ripple is spending millions of dollars urging lawmakers to thwart the SBR because they are concerned that it will undermine their marketing strategy and advance their goals for Central Bank Digital Currencies (CBDCs).

Ripple has now “declared war” by attempting to block the Strategic Bitcoin Reserve, according to Rochard, who also accused the company of trying to sabotage Bitcoin mining during the Biden administration.

‘The most prominent source of false information against Bitcoin has been Ripple or XRP. They have vigorously urged governments everywhere to attempt to outlaw Bitcoin mining. using woke ESG narratives as a weapon to advance their centralized token’, according to Rochard.

Ripple redirected funds to committees and other political initiatives rather than buying Bitcoin. Ripple and its pro-altcoin lobbyists like Fairshake will have more time to sway policy and budgetary decisions under Trump’s administration.

Brad Garlinghouse, the CEO of Ripple, retaliated, saying that their work is increasing the likelihood of a crypto strategic reserve, which may include Bitcoin. Garlinghouse emphasized that Ripple’s activities align with the U.S. government assistance for American businesses and technology.

Ripple Filed April 16 Cross-appeal Brief Request

Posted on January 25, 2025 by Olumide Adesina

The deadline for the cross-appeal brief in Ripple’s ongoing legal battle with the US Securities and Exchange Commission has been officially set for April 16.

Ripple’s legal team member Michael Kellogg stated in a request dated January 23 that the company’s co-founder Chris Larsen and CEO Brad Garlinghouse participated “in this request.”

A party must submit a written legal argument to the court by a short deadline. The appealing party must typically submit a brief within a specific time frame after filing its opening brief. However, the time frame, including any potential deadline extension

This comes after the SEC filed a filing on January 15th, arguing that the New York District Court erred in holding that XRP sold to retail investors did not qualify as securities. In that filing, the SEC stated that XRP provided as employee compensation and in business details was incorrectly disregarded as a security. The 2023 New York District Court decision was viewed as a partial win for Ripple.

Ripple’s request has brought attention to this crucial and ongoing legal dispute in the crypto industry. Some, though, thought the SEC would drop the case.

The SEC also had ninety days to prepare its first brief. President Donald Trump appointed crypto-friendly acting Chair Mark Uyeda to lead the SEC. The agency is reportedly considering dropping some crypto enforcement cases.

Coinbase Makes Case For Bitcoin Strategic Reserve

Posted on January 24, 2025January 24, 2025 by Olumide Adesina

Coinbase Chief advocated for Bitcoin over gold and called on governments to set aside funds for it, predicting that its market value will eventually overtake gold. Brian Armstrong, CEO of Coinbase, has proclaimed Bitcoin a “better form of money” than gold, pointing to its divisibility, portability, and scarcity as key advantages.

Armstrong thinks that within five to ten years, the $2 trillion market capitalization of Bitcoin could overtake gold. He has urged governments to allocate some part of their holdings into Bitcoin because it is a more contemporary asset for strategic reserves and a better store of value.

Armstrong’s comments followed Governor Lesetja Kganyago of the South African Reserve Bank (SARB) rejecting the notion of governments holding Bitcoin reserves.

Kganyago questioned the strategic significance of Bitcoin by drawing a comparison between it and gold’s longstanding status as a reliable store of value and a standard for currency.

Armstrong explained his reasons for thinking Bitcoin is better than gold in a thorough post on X (formerly Twitter).

He pointed out that Bitcoin has greater fungibility, portability, and divisibility than gold, which is decentralized and scarce. He also noted that, in contrast to Bitcoin transactions, which are transparent on the blockchain, it is more challenging to confirm the purity of gold.

Armstrong highlighted the growth potential of Bitcoin, pointing out that it only accounts for 11% of the market capitalization of gold.

He recommended that nations start by putting at least 11% of their gold reserves into Bitcoin, then gradually increase their holdings as the cryptocurrency’s market capitalization rises. “If the U. S. leads by setting up a Strategic Bitcoin Reserve, the other G20 countries will probably do the same,” Armstrong said.

He urged governments to consider Bitcoin as a long-term store of value, calling it the best-performing asset of the past ten years. In contrast to gold’s historical significance, Kganyago rejected Bitcoin as a reserve asset during the World Economic Forum in Davos.

Additionally, Kganyago maintained that rather than being determined solely by market forces, Bitcoin as a reserve should be the subject of a larger public discussion.

Forex Signals Brief January 24: Manufacturing and Services PMI Close the Week, After Trump’s Davos Speech

Posted on January 24, 2025January 23, 2025 by Skerdian Meta

The Speech from Donald Trump at Davos yesterday helped stocks and cryptos while weakening the USD and Oil, today we have the services and manufacturing PMI to close the week.

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Senator Elizabeth Warren Wants TRUMP Coins Investigated

Posted on January 24, 2025 by Olumide Adesina

Senator Elizabeth Warren recently requested the government ethics office and US financial regulators look into the moral and legal issues surrounding Donald and Melania Trump’s cryptocurrency holdings.

Warren expressed “our profound concern regarding President Trump and First Lady Melania Trump’s decision to introduce two meme-coins, TRUMP and MELANIA, that enable them to profit extraordinarily from his Presidency.”

The meme coin “has massively enriched Trump personally, enabled a mechanism for the crypto industry to funnel cash to him, and created a volatile financial asset that allows anyone in the world to financially speculate on Trump’s political fortunes,” according to Warren, a prominent Democrat on the Senate Banking Committee who is well-known for her skepticism about cryptocurrency.

The possibility of unchecked and untraceable foreign influence over the US president is also raised by her assertion that “leaders of hostile nations” can secretly purchase these meme coins.

Trump made a surprise move by launching the Official Trump (TRUMP) meme coin. 20. A day after launch, it reached an all-time high of over $73, valued at $14 billion. Since then, it has fallen 57 percent to trade at about $34.

Warren and Representative Jake Auchincloss want the regulatory leaders to want legal definitions and regulatory authority over meme coins, measures to monitor and control illicit or foreign purchases, ethical guidelines that apply to the Trumps’ token holdings, and safeguards for individual investors. The top Democrat on the US House Financial Services Committee, Representative Maxine Waters, stated Trump’s meme-coin was a horrible concept. Lawyers anticipate Trump family members will result in a deluge of lawsuits.