Category: Crypto market

U.S Banks Kick against Ripple’s Banking License

Posted on by Olumide Adesina

Federal authorities have been urged by several major banking and credit union trade associations from the largest economy to pause their review of national bank charter applications filed by Circle and Ripple.

The request, along with a warning that approving such applications could significantly alter long-standing regulatory policies, was included in a joint letter addressed to the Office of the Comptroller of the Currency (OCC).

A coalition led by the American Bankers Association signed the letter, which argues that the OCC should not begin reviewing the applications until key legal and policy issues are resolved. The signatories claim that the business models of these crypto companies lack clarity and transparency, making proper public review and regulatory analysis difficult.

Concerns center on whether the companies meet the requirements for national trust bank charters, which have traditionally been limited to organizations providing fiduciary services.

The banking associations argue that Circle and Ripple’s core services—especially crypto custody—do not fulfill fiduciary standards.

They warn that moving forward without proper public consultation could cause regulatory inconsistencies and potentially allow companies with low capital requirements to bypass longstanding financial oversight systems. If granted, a national bank charter would allow crypto firms to operate across the country under a single federal license, eliminating the need to seek approval in each state. While this could streamline the process for applicants, it raises concerns within the traditional financial sector.

Forex Signals Brief July 21: ECB, PMIs and Inflation but Focus Is on S&P 500

Posted on by Skerdian Meta

Last week, risk appetite remained strong in global markets, lifting major cryptocurrencies and tech stocks to new records while gold and forex pairs traded in narrower ranges. Continue reading “Forex Signals Brief July 21: ECB, PMIs and Inflation but Focus Is on S&P 500” →

Ripple: XRP Rockets to Transactions High in Euphoric Price Surge

Posted on by Olumide Adesina

XRP experienced one of its most aggressive short-term rallies, driven by both technical momentum and a notable rise in on-chain activity.

According to recent payment volume data, XRP transferred over $1.1 billion in accounts on July 18, the highest in over a month. This suggests investor confidence has returned, and the ecosystem is undergoing significant change.

 

XRP is undergoing a price surge. In less than three weeks, the asset has nearly doubled in value, climbing from below $2.40 in early July to over $3.60. It broke through key resistance levels, including $2.39, $2.68, and most recently $2.80, establishing support zones.

A possible short-term cooldown might happen since the RSI is above 80 and nearing overbought levels. However, the recent increase in transaction volume suggests this might be more than just a speculative pause.

Meanwhile, Brad Garlinghouse shared photos of the Ripple team at the White House, where they watched US President Donald Trump sign the recently approved Genius Act. Ripple’s CEO highlighted that today was a historic day for the cryptocurrency industry because the Act “marks a shift from the US” and introduces transparent and friendly regulation for the $250 billion stablecoin market, reflecting the traditionally cautious approach to cryptocurrency..

Binance Boosts Confidence in BONK, PEPE, PENGU by Dropping Seed Tag

Posted on by Olumide Adesina

Binance has decided to remove the “Seed Tag” from key tokens like BONK, PEPE, Eigen Layer (EIGEN), Ether.fi (ETHFI), and Pudgy Penguins (PENGU). This change marks a significant shift in how the market perceives these digital assets and assesses risk.

The Seed Tag, which served as a warning label for traders about the higher risks of new or experimental tokens, has been removed. Its absence suggests that Binance’s internal evaluations indicate improved project development, operational stability, and liquidity, thus reducing perceived investor risk.

This change could heavily influence market dynamics; it is more than just symbolic. A wider range of investors, including institutional players who typically avoid high-risk assets, may now be attracted to tokens without the Seed Tag.

Furthermore, trading becomes simpler because traders no longer need to complete mandatory risk quizzes for these tokens, leading to increased daily volumes and market participation. This shift signals a move from experimental projects to more established ones, potentially encouraging broader adoption and trading activity.

The Binance Seed Tag functions as a risk management tool. Usually applied to projects that are experimental, early-stage, or have low liquidity, the Seed Tag prompts users to assess risks before trading. This system promotes due diligence and helps prevent poorly informed trading decisions.

Binance subtly indicates that these tokens have demonstrated sufficient project maturity and market resilience by removing the Seed Tag.

However, it is essential to remember that risks are not eliminated. Investors should continue to evaluate key factors such as market conditions, tokenomics, and project governance before making investment decisions.

Ethereum: ETH Surges Toward $4K on Rising Institutional Hype

Posted on by Olumide Adesina

Ethereum is nearing the $4,000 mark for the first time since late 2024, driven by heightened interest from institutional investors and cryptocurrency whales. On July 20, the blockchain analytics company Lookonchain reported that two newly established wallets had acquired 58,268 ETH, valued at approximately $212 million. These purchases were made from Galaxy Digital and FalconX, with speculation that the wallets belong to institutional investors

The altcoin has successfully surpassed the critical $3,500 resistance level, signaling a robust bullish trend fueled by whale buying, ETF inflows, and strong technical momentum. As Ethereum ETFs attract significant amounts of capital, institutional interest continues to rise.

The inflows from BlackRock’s ETHA ETF are particularly noteworthy, contributing to record-high total assets under management.

Additionally, on-chain analyst EmberCN highlighted another significant Ethereum acquisition by a different whale. This transaction involved the purchase of 13,462 ETH, or approximately $50 million, from Binance at an average price of $3,714.

SharpLink, the largest corporate holder of Ethereum to date, has maintained its aggressive accumulation of ETH.  The company acquired an additional 4,904 ETH. This brings its total monthly acquisitions to 157,140 ETH, valued at nearly $493 million, with an average acquisition price of $3,136.

XRP’s Real Supply: Why 85% is Unavailable in Market

Posted on by Olumide Adesina

Over 85 percent of the 100 billion XRP units in circulation are either locked, misplaced, or stored in dormant wallets, according to a startling analysis of the token’s actual supply published by blockchain engineer Vincent Van Code.

His findings cast doubt on widely held beliefs about the actual quantity of XRP available for settlements, payments, and liquidity.

 

Ripple has about 35.1 billion XRP in escrow. Although the company releases one billion tokens each month, it typically relocks nearly 800 million of those tokens back into escrow, limiting the amount of XRP available in the open market.

Ripple also holds 40.9 billion XRP outside of escrow, reserved for strategic projects like partnerships, incentives, and acquisitions. These tokens are not included in the supply available for institutional or public use. Additionally, Van Code states that 5–8 billion XRP are permanently unavailable due to early wallet abandonment and lost private keys.

Similar to Bitcoin, XRP has numerous dormant tokens unlikely to re-enter the ecosystem. Reports indicate early adopters and institutional investors own 20–25 billion XRP, most of which remain dormant, contributing to ongoing supply shortages. These holdings rarely influence daily liquidity and are mainly long-term.

Bitcoin Price Prediction: BTC Eyes $150K on ETF, 401(k) Reform and Treasury Demand

Posted on by Skerdian Meta

Despite persistent macroeconomic uncertainty and recent corrections, Bitcoin continues to defy expectations, reclaiming ground above $120,000 and reaffirming its dominance in the digital asset market. Continue reading “Bitcoin Price Prediction: BTC Eyes $150K on ETF, 401(k) Reform and Treasury Demand” →

Post-GENIUS Act, Mastercard Backs Stablecoins with Centralized Approach

Posted on by Olumide Adesina

Mastercard has officially embraced stablecoins, positioning itself as a vital component of the evolving financial system. The discourse surrounding stablecoins is being significantly influenced by the recent passage of the Genius Act.

Mastercard, a leading payments company, expressed its support for stablecoins, which removes a significant obstacle to their growth. However, the concept of decentralized money does not align with Mastercard’s vision for the future.

This development represents a pivotal moment for stablecoins. The U.S. Congress’s enactment of the GENIUS Act ushers in a new era of clear regulations and heightened trust in digital assets, according to Jesse McWaters, Executive Vice President at Mastercard.

McWaters emphasized that stablecoins are already being utilized in practical applications, particularly for international payments. They provide a fast and cost-effective alternative to traditional banking transfers and other payment methods for international business-to-business transactions or remittances.

However, McWaters believes that an essential element missing from stablecoins is an intermediary like Mastercard. Mastercard describes itself as “one of the world’s most trusted payments networks” and aims to play a vital role as a centralized middleman in a stablecoin ecosystem.

Still, stablecoins need more than speed and programmability to move from niche to mainstream.

They must be part of trustworthy systems that protect users, resolve issues, and work smoothly across platforms and borders, according to McWaters. “Mastercard can help with that,” he added.

The large payments company has already begun several projects focused on stablecoins, including features that enhance user protection and compliance, such as Mastercard Crypto Credential and Mastercard Multi-Token Network. Mastercard envisions a future where trust shifts away from peer-to-peer systems that lack reliability.

Ripple: XRP Faces imminent correction after Record High

Posted on by Olumide Adesina

XRP appears to be forming a falling star candlestick pattern after one of the most aggressive rallies among major altcoins. This pattern is a crucial technical indicator that often predicts short-term reversals and intraday rejections at higher price levels.

 

XRP is attempting to create a daily candle that will complete the falling star, characterized by a long upper wick, a thin body, and little to no lower shadow. This pattern suggests an upcoming bearish reversal, especially if it is followed by a red candle and declining volume, which are common after a sustained bullish move.

XRP reached a price of approximately $3.70, but selling pressure soon emerged, erasing most of the gains and leaving behind a tall wick. Bulls are facing downward pressure, indicating that buying enthusiasm may be reaching its limit. XRP is still significantly up for the week, and at the time of writing, it is priced at $3.45.

Additionally, the Relative Strength Index (RSI) has surged past 70 and now stands at 88. XRP hit $3.66 this week, surpassing its 2018 all-time high of $3.40. The weekly chart, which smooths out daily fluctuations over several months, the technical outlook for XRP appears strong enough to suggest continuation.

The weekly RSI near 70 indicates an overbought condition.

While this may raise concerns for day traders, it tells a different story over longer periods. On weekly charts, RSI levels above 70 often indicate strong bullish momentum rather than imminent sharp declines. Historical data shows that assets can remain “overbought” for several weeks during solid growth, which is a positive sign for long-term investors. Currently, XRP scores 19 on the Average Directional Index (ADX) weekly chart, generally indicating a weak trend.

However, this can be misleading, as ADX measures trend strength on a scale from 0 to 100. Although levels below 25 typically suggest weak trends, the overall context is important.