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Trump signs GENIUS Act into law, positioning Ripple’s RLUSD for institutional adoption

  • Ripple’s RLUSD could benefit from the new rules and expand its use in US financial systems.
  • Only 14 million XRP tokens have been burned to date versus 59.1 billion in circulation.
  • The pending CLARITY Act could further clarify XRP’s legal status in the US market.

Ripple’s strategic position in the evolving US stablecoin landscape received a boost last Friday after President Donald Trump signed the “Guiding and Enabling the Nationwide Innovation of US Stablecoins” (GENIUS) Act into law.

The legislation establishes a formal regulatory path for stablecoin issuers and paves the way for institutions to adopt digital dollars under federal oversight.

For Ripple, this offers new ground to promote its RLUSD stablecoin—but has limited bearing on its native XRP token.

GENIUS Act offers regulatory clarity for Ripple’s RLUSD

The GENIUS Act provides a legal framework for dollar-backed stablecoins, enabling issuers to operate under federal charters and meet specific reserve and audit standards.

The move benefits stablecoins such as USDC, PayPal USD, and RLUSD, all of which aim to be integrated into institutional finance and payment systems.

Ripple’s RLUSD, though not yet as widely adopted as rivals like Circle’s USDC or Tether’s USDT, could leverage the act’s legal clarity to position itself as a compliant, regulated stablecoin within the United States.

Unlike decentralised or offshore stablecoins, RLUSD could function as a native liquidity provider for on-shore financial transactions, potentially giving Ripple a role akin to a financial infrastructure provider in the regulated US market.

While RLUSD stands to gain traction from the GENIUS Act, this advancement is unlikely to bring meaningful price movement to XRP. The two are functionally separate, with XRP continuing to serve as a bridge token on the XRP Ledger.

XRP supply dynamics unaffected by RLUSD transactions

Although RLUSD will operate on the XRP Ledger and every transaction will burn a small amount of XRP to pay network fees, the volume is too low to materially affect the coin’s price or supply.

Since inception, only 14 million XRP tokens have been burned, while the circulating supply remains over 59.1 billion. This shows that even under heavy usage, token burns through stablecoin transactions will not significantly influence XRP’s deflation rate or valuation.

Ripple’s Chief Technology Officer, David Schwartz, has previously downplayed the impact of such burns, noting that they will not materially reduce supply in the foreseeable future.

This reinforces the view that RLUSD-related network activity will not shift XRP’s price dynamics in a meaningful way.

Ongoing SEC lawsuit adds uncertainty to XRP classification

The broader regulatory environment for XRP remains unresolved, as Ripple’s legal battle with the US Securities and Exchange Commission (SEC) continues.

A previous ruling determined that XRP is not a security when sold on public exchanges but may be classified as one in institutional placements. This duality in classification introduces lingering uncertainty about XRP’s long-term regulatory status.

The current ambiguity impacts Ripple’s ability to rely solely on XRP within the US. In this context, the GENIUS Act gives Ripple a compliant alternative in RLUSD, reducing regulatory exposure in XRP-heavy transactions.

This shift enables the company to broaden its reach in regulated financial environments while maintaining its core blockchain infrastructure.

CLARITY Act could redefine XRP’s regulatory standing

Looking ahead, further legislative developments could reshape Ripple’s token strategy. The pending CLARITY Act proposes a formal path for digital assets to transition from securities to commodities over time.

If passed, it could eliminate the regulatory ambiguity surrounding XRP’s classification and facilitate broader tokenisation strategies involving Ripple’s ecosystem.

In the meantime, RLUSD provides a way for Ripple to participate in the stablecoin market without depending on XRP in uncertain regulatory conditions.

This dual-token strategy offers flexibility, allowing Ripple to align with evolving US regulations while continuing to promote its ledger technology.

The post Trump signs GENIUS Act into law, positioning Ripple’s RLUSD for institutional adoption appeared first on CoinJournal.

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BNB price prediction: BNB on cusp all-time high as bulls eye $1,000

  • BNB price trades above $760, having touched intraday highs of $766.
  • Having come just shy of a new all-time high, it’s possible bulls could target $1,000 next.
  • Overall, altcoin market optimism will catalyse more gains.

BNB, the native coin of the Binance ecosystem and BNB Chain, is on the cusp of a new all-time high as price hovers near $763 on Monday morning.

This comes amid a robust uptick for altcoins, with Ethereum exploding to $3,800 and XRP eyeing $4.00.

While BNB has only managed a modest 2%, price is retesting last week’s resistance level amid an increase of nearly 9% in seven days.

Despite these small gains compared to other coins, BNB is showing strong technical indicators, alongside a yearly high in Open Interest.

BNB price nears new all-time high

The BNB price has continued to trade higher since breaking above $640 in June.

On Monday, July 21, the altcoin reached an intraday high of $766, a move that saw it come close to hitting its all-time high of $793 reached in December 2024.

As noted, this rally for Binance Coin aligns with an uptick for altcoins across the broader market.

With Bitcoin consolidating after hitting new ATH above $123k, it’s altcoins that are in the limelight this past week.

“With Ethereum leading the way, there has been a huge jump in social media mentions of many altcoins and higher price targets,” analysts at Santiment recently posted.

Ethereum has climbed above $3,800, and XRP is on the verge of a new all-time high.

Bulls have pushed Solana towards $200. Elsewhere, altcoins such as Conflux (CFX) have surged significantly to lead top gainers in leading 100 coins by market cap.

BNB’s market capitalisation has also increased amid the overall upward momentum, hitting above $106 billion as the fifth-largest cryptocurrency targets a new peak.

BNB price prediction: is a breakout to $1,000 next?

A look at the charts shows BNB’s bullish outlook has the support of key technical indicators.

Combining this with prevailing market conditions could offer buyers the chance to break higher.

Currently, hovering above $760 puts BNB just shy of the $793 peak.

Profit taking may ensue near the ATH, but Open Interest in BNB futures has soared to a yearly high of $1.04 billion.

Derivatives volume has also jumped to over $1.38 billion, signalling increased trader bets on the cryptocurrency.

BNB price chart by TradingView

The Moving Average Convergence Divergence (MACD) also shows a bullish crossover, confirming sustained upward pressure.

If BNB bulls weather the likely corrections, the next target above the all-time high will be the psychological $1,000 level.

The post BNB price prediction: BNB on cusp all-time high as bulls eye $1,000 appeared first on CoinJournal.

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POL eyes 95% surge as Polygon’s stablecoin supply hits 3-year highs

  • The project’s stablecoin supply has crossed $2.76 billion.
  • The metric has hovered beneath this level since 2021.
  • A falling wedge pattern suggests POL rallies to $0.50.

Digital tokens remained elevated on Monday as most assets exhibited bullish structures after the latest rallies.

Polygon, which has displayed stability since its Heimdall v2 upgrade on 10 July, is in the spotlight again.

The Polygon PoS saw its stablecoin supply recovering past $2.76 billion over the weekend, touching levels not seen since the 2021 bull run (according to CEO Sandeep Nailwal).

The prevailing bull run and the latest crypto bills’ approval in the United States fuel this stablecoin growth.

Stablecoins gain traction after Donald Trump signed the GENIUS Act into law.

These assets are vital for the markets’ stability as they peg real-world assets like fiat.

Increased stablecoins entering the Polygon network indicate growing trust in the project, with users betting on potential upticks in ecosystem growth, NFT trading, and DeFi activity.

Such developments have renewed interest in native POL, the new coin replacing MATIC.

The alt has formed a bullish reversal pattern after extended dips since March.

Overcoming the $0.42 – $0.45 resistance could propel POL toward the obstacle at $0.50.

That would translate to a 95.38% increase from the digital currency’s market price of $0.2559.

Network activity confirms trend shifts

Stronger fundamentals support Polygon’s bullish trajectory.

It has topped charts in the last few months, consistently ranked as:

  • The top three in bridged inflows
  • The top two in NFT trading volume
  • The top three in daily transactions
  • 150b+ in stablecoin volumes
  • The top two in daily active users on several days.

These stats reflect Polygon’s competitiveness in the hot Ethereum-scaling and L2 landscape.

The impressive growth suggests that Polygon remains a perfect choice for traders, institutions, and developers.

With many sectors, including NFTs, DeFi, gaming projects, and real-world assets (RWA) heating up amid the materialising bull run, Polygon might see further stablecoin surges.

POL price outlook: Is $1 next?

The alt trades at $0.2559 after gaining over 5% in the past 24 hours (CoinMarketCap).

It has rallied from June lows of $0.1666, and the 60% surge in daily trading volume suggests further gains for POL.

Technical indicators back the bullish case. A textbook falling wedge is emerging on the weekly charts.

This classic formation often welcomes massive breakouts once confirmed.

Falling wedge patterns trap sidelined cautious buyers and short-sellers before robust gains.

With the prevailing broad market optimism, Polygon bulls will target the key resistance at $0.50, a 95% upswing from POL’s market price of $0.2559.

The soaring stablecoin supply hints at stable gains for the digital currency.

Overcoming $0.50 could catalyse surges to $0.90 before exploding toward the psychological mark at $1.

Cryptocurrencies appear ripe for extended gains as bulls dominate amid shifting trends and increased institutional appetite.

The post POL eyes 95% surge as Polygon’s stablecoin supply hits 3-year highs appeared first on CoinJournal.

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DOGE leads the market charge, eyes the $0.30 high

Key takeaways

  • Dogecoin is the best performer among the top 10 cryptocurrencies by market cap.
  • The coin could rally towards the $0.30 mark after hitting $0.25 a few hours ago.

DOGE leads the market charge

DOGE, the native coin of the Dogecoin blockchain, is the best performer among the top 10 cryptocurrencies by market cap. The coin added over 8% to its value in the last 24 hours and now trades at $0.2730 per coin.

The positive performance comes as the broader crypto market starts another week in a bullish mode. Memecoins have outperformed other narratives over the last few days, and the trend continues this week.

Other leading memecoins, including Shiba Inu (SHIB), Pudgy Penguins (PENGU), Flocki, Jasmy, TRUMP, and PEPE, are all in the green, with most of them recording double-digit percentages in gains.

DOGE targets $0.30 as bullish pattern forms

The DOGE/USD 4-hour chart is bullish but inefficient, suggesting that the coin could drop lower soon before rallying higher. The technical indicators are bullish, indicating a strong buying bias for the memecoin.

The RSI of 75 shows that DOGE is currently heading into the overbought region while the MACD lines are within the positive territory, highlighting the strong bullish bias. The daily chart shows that DOGE broke out cleanly above a long-term downtrend and closed above all major EMAs, including the 200 EMA at $0.204. The breakout confirms the shift in trend bias.

DOGE/USD 4H Chart

The Bull Market Support Band between $0.1839 and $0.2024 now serves as a strong support for Dogecoin. The pair’s Parabolic SAR has also flipped bullish and remains below price, serving as added confirmation to the bullish trend direction. 

If the bullish momentum holds, DOGE would rally towards the FVG at $0.30 before hitting the next resistance level at $0.34. An extended bullish run would allow DOGE to test the $0.38 resistance level for the first time since January 22.

However, in the event of a correction, DOGE could retest the ILQ at $0.25064 in the coming hours. An extended bearish run could see DOGE drop to the Transactional Liquidity (TLQ) level above $0.230.

The post DOGE leads the market charge, eyes the $0.30 high appeared first on CoinJournal.