Schlagwort: crypto business

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XRP price holds above $2 as SEC delays Franklin Templeton XRP ETF

  • XRP price falls below $2.30 as SEC delays Franklin Templeton’s spot XRP ETF decision.
  • Geopolitical tensions, mainly the Israel-Iran conflict, has contributed to broader crypto market dip.
  • XRP price prediction hinges on key support at $2.00 and short-term resistance at $2.50.

Ripple’s XRP token saw its price dip to near $2.00 on Tuesday as the cryptocurrency market grappled with a fresh downturn.

The geopolitical tensions that see an escalation in the Israel-Iran conflict, now in its fourth day of heavy missile strikes, continued to rattled investor confidence, pushing risk assets like Bitcoin and XRP lower.

Adding to the uncertainty, US President Donald Trump’s recent remarks on a peace deal or truce have sparked fears, further dampening market sentiment.

Against this backdrop, XRP faces intensified pressure as the US Securities and Exchange Commission (SEC) postpones its decision on Franklin Templeton’s spot XRP ETF.

Ripple price drops as SEC delays XRP ETF

XRP experienced a sharp bearish move on June 17, aligning with notable declines across the market.

Following the SEC’s decision to extend its review of Franklin Templeton’s spot XRP ETF to late July 2025, the token plummeted below $2.20.

Bulls posted a 6% loss and reached lows of $2.13.

This meant XRP price extended the downside that has seen it pare recent gains.

However, despite the heightened market volatility and the broader crypto market’s declines, XRP held above the crucial $2.00 level.

It remains to be seen how the markets react further amid the Israel-Iran conflict and Fed’s interest rates decision on Wednesday, June 18.

Notably, the community largely expected the SEC to delay the XRP ETF decision and could now look to the eventual approval.

Analysts say the chances remain high, even amid outstannding legal issues.

XRP price prediction

Nonetheless, the token’s failure to hold above the critical $2.30 level has weakened buyer confidence.

The current market conditions also continue to cast a shadow over XRP’s price trajectory.

XRP is currently trading at approximately $2.20, caught between key support at $2.00 and resistance at $2.50.

Technical indicators provide mixed signals. A look at the charts shows the daily Relative Strength Index (RSI) at 46 and downsloping to suggest XRP could trend towards the oversold territory.

The Stochastic oscillator in oversold territory indicates a potential uptick, despite selling pressure persisting.

XRP chart by TradingView

Open Interest (OI) in XRP futures remains steady at $3.90 billion, but a 10% drop says short term confidence is a little on the low.

Nonetheless, derivatives volume of $8.2 billion reflects current market frenzy amid geopolitical risks.

In terms of price prediction for XRP, a breakout above $2.30 could allow for a march on $2.50 and potentially $3 ahead of SEC’s next XRP ETF decision.

On the downside, breakdown below $2.00 may test bulls resolve and bring the $1.75 support area into focus.

The post XRP price holds above $2 as SEC delays Franklin Templeton XRP ETF appeared first on CoinJournal.

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US Senate approves GENIUS Act to regulate stablecoins; bill moves to house

  • US Senate passed the “GENIUS Act” (68-30) to create a regulatory framework for stablecoins.
  • The bill requires stablecoins to be backed by liquid assets and issuers to disclose reserves monthly.
  • This is a major milestone for the crypto industry, which has long pushed for regulatory clarity.

In a significant development for the digital asset industry, the US Senate on Tuesday passed a bill aimed at creating a comprehensive regulatory framework for US dollar-pegged cryptocurrency tokens, commonly known as stablecoins.

This bipartisan achievement marks a potential watershed moment, bringing much-sought-after clarity to a rapidly evolving sector of the financial world.

The legislation, officially titled the “Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act,” garnered considerable bipartisan support, with several Democrats joining the majority of Republicans to back the proposed federal rules.

The bill ultimately passed by a decisive vote of 68-30. For the bill to become law, the House of Representatives, which is currently controlled by Republicans, will need to pass its own version.

If successful there, the harmonized legislation will then proceed to President Donald Trump’s desk for final approval.

The passage in the Senate is being hailed as a pivotal step.

“It is a major milestone,” commented Andrew Olmem, a managing partner at the law firm Mayer Brown and the former deputy director of the National Economic Council during President Trump’s first term.

“It establishes, for the first time, a regulatory regime for stablecoins, a rapidly developing financial product and industry.”

Stablecoins, a specific type of cryptocurrency designed to maintain a constant value, typically by pegging 1:1 to the US dollar, are widely used by crypto traders to facilitate the movement of funds between different digital tokens.

Their usage has seen exponential growth in recent years, and proponents argue they hold the potential to revolutionize payment systems by enabling instantaneous transactions.

If enacted, the stablecoin bill would mandate that these tokens be backed by liquid assets, such as US dollars and short-term Treasury bills.

Furthermore, issuers would be required to publicly disclose the composition of their reserves on a monthly basis, enhancing transparency.

Industry advocacy and a push for clarity

The cryptocurrency industry has long advocated for lawmakers to pass legislation creating clear rules for digital assets.

The prevailing argument is that a well-defined regulatory framework could unlock the potential for stablecoins to become more widely adopted and integrated into the mainstream financial system.

Reflecting this push, the sector reportedly spent over $119 million backing pro-crypto congressional candidates in last year’s elections and has consistently sought to portray the issue as a bipartisan concern.

An earlier attempt to pass stablecoin legislation in the House of Representatives last year was successful, but that bill ultimately died in the Senate, where Democrats held the majority at the time and did not bring it up for a vote.

The current momentum reflects a shifting landscape, partly influenced by President Trump, who has sought to broadly overhaul US cryptocurrency policies after actively courting financial support from the industry during his presidential campaign.

Bo Hines, who leads Trump’s Council of Advisers on Digital Assets, has indicated that the White House is keen to see a stablecoin bill passed before August.

Navigating political tensions and lingering concerns

The path to this Senate vote has not been without its challenges. Tensions on Capitol Hill over President Trump’s various personal crypto ventures at one point threatened to derail the digital asset sector’s hopes for legislation this year.

Some Democrats have grown increasingly frustrated with Trump and his family members promoting their personal crypto projects, including a meme coin called $TRUMP launched in January and a crypto company named World Liberty Financial, partly owned by the president.

The White House has maintained that there are no conflicts of interest for Trump, stating his assets are held in a trust managed by his children.

Critics, however, remain vocal. “In advancing these bills, lawmakers forfeited their opportunity to confront Trump’s crypto grift – the largest, most flagrant corruption in presidential history,” asserted Bartlett Naylor, financial policy advocate for Public Citizen, a consumer rights advocacy group.

Other Democratic lawmakers have expressed concerns that the current bill does not adequately prevent large tech companies from issuing their own private stablecoins.

They have also argued for stronger anti-money laundering (AML) protections and more stringent prohibitions on foreign stablecoin issuers.

Senator Elizabeth Warren, a Democrat, voiced these concerns on the Senate floor in May, stating, “A bill that turbocharges the stablecoin market, while facilitating the president’s corruption and undermining national security, financial stability, and consumer protection is worse than no bill at all.”

The road ahead: house deliberations and state regulator input

Despite its passage in the Senate, the stablecoin bill could face further modifications in the House of Representatives.

The Conference of State Bank Supervisors (CSBS) has already called for “critical changes” to the legislation to mitigate potential financial stability risks.

“CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors,” said Brandon Milhorn, president and CEO of the CSBS, in a statement, highlighting ongoing debates about the appropriate balance between federal and state oversight in the burgeoning stablecoin market.

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Pi coin price prediction amid Pi Network domain update concerns

  • The price of Pi coin has dropped 60% amid a weak response to the .pi domain update.
  • Exchange inflows and token unlocks signal bearish pressure.
  • Users have raised concerns over security and stalled ecosystem growth.

The Pi Network ecosystem is facing growing uncertainty as concerns over its .pi domain auction weigh heavily on the price of its native token, Pi.

Pi coin, which once soared to $1.50 in April, has fallen sharply, now hovering around the $0.60 mark.

This decline has sparked fresh speculation about the network’s long-term prospects and the token’s immediate price trajectory.

Also Read: PI coin price prediction as it drops below $1 despite $100m Pi Network Ventures launch

Pi token drop raises red flags across the community

The recent 60% decline in Pi’s price over the past month has rattled users and investors alike.

Although the Pi Core Team has launched a dedicated app for the .pi domain auction, the update has not delivered the ecosystem-wide uplift many had hoped for.

The domain auction, which introduced features like real-time statistics and email notifications, was meant to showcase utility and expand digital participation.

However, critics argue that the changes have failed to address deeper platform issues, including KYC delays and limited business adoption.

Adding to these frustrations, users are increasingly vocal about the lack of new listings, app integrations, or smart contract functionalities.

These gaps are compounding scepticism as Pi Network prepares for its next major event—Pi2Day on June 28.

Pi Network domain auction engagement falls short

While more than 3 million Pi tokens have been spent on .pi domain bids so far, representing roughly $1.8 million in estimated value, the impact appears modest compared to the network’s daily trading volume.

The low conversion of domains into actual utility—like live websites, businesses, or dApps has also drawn criticism. Many domains have been snapped up for speculative purposes, such as squatting on generic terms or brand names.

Despite Pi Network’s emphasis on utility, developers and merchants have yet to actively leverage these domains to anchor meaningful services. The absence of such applications continues to dampen momentum around the initiative.

CEX inflows spark fears of market dump

Trading volumes for Pi rose 60% over the past 24 hours, yet this surge was not backed by bullish sentiment.

Instead, centralised exchanges recorded large inflows, a move typically seen when holders prepare to sell.

Gate.io led the pack with over 1.3 million PI deposited, followed by OKX and Bitget. These figures point to a potential coordinated sell-off that may place further pressure on already fragile support levels.

At the same time, around 11 million PI tokens are being unlocked daily, adding to the oversupply problem.

With current demand stagnant, this unlock schedule raises fears of an extended price dip.

Security concerns add to the bearish sentiment

Amid the.Pi domain auction concerns and the surging trading volume void of a bullish market sentiment, the community’s mood has taken another hit following reports of a password leak tied to PiChain Global.

Users were urged to take urgent steps to secure their Pi accounts and bind their email addresses to the Pi Chain Mall platform.

This incident, though isolated, has highlighted broader concerns over the platform’s readiness to handle mainstream adoption.

It has also led to increased calls for multi-layered security and better identity verification mechanisms.

Although the Pi Core Team responded quickly with procedural recommendations, the damage to confidence may take time to repair.

The Pi coin price outlook hinges on clearer utility

Technically, Pi coin is consolidating between $0.57 and $0.60, but analysts caution that support at this level is under serious threat.

While some indicators suggest a possible rebound toward $0.67, overall momentum remains bearish.

Without a strong catalyst—such as a surprise exchange listing or a major feature announcement during Pi2Day—most signals point toward continued sideways or downward movement.

The MACD is approaching a bearish crossover, and resistance at $0.66 has proven firm.

As Pi Network works to revive community engagement, investors will be watching closely for concrete signs of growth.

Unless the ecosystem delivers on long-promised features and utility, the PI token could continue to slide.

For now, market sentiment remains cautious, and Pi coin’s short-term outlook is clouded by unresolved issues and growing disillusionment within its user base.

The post Pi coin price prediction amid Pi Network domain update concerns appeared first on CoinJournal.

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Hyperliquid price forecast: HYPE pauses price discovery after its ATH

Key takeaways

  • HYPE is up 48% in the last 30 days, overtaking several cryptocurrencies to grab the 11th spot in the market.
  • The coin risks turning the $40 support into a resistance following its recent all-time high achievement.

HYPE down 12% from all-time high

HYPE, the native coin of the Hyperliquid ecosystem, has been one of the top performers in recent weeks. The coin, which launched seven months ago, has added over 1,000% to its value since then and is now the 11th-largest cryptocurrency by market cap.

It surged by 48% over the last 30 days to reach an all-time high price of $45 yesterday. However, it has lost roughly 12% of its value since then and has dropped below the $40 support level, with the bears still in control.

Profit-taking and the Middle East crisis are the major catalysts behind HYPE’s dip

With HYPE losing over 12% of its value in the last 24 hours, analysts are predicting further downward movement in the near term. The primary catalysts behind HYPE’s bearish performance are the ongoing conflict in the Middle East and potential profit-taking.

As stated above, HYPE reached an all-time high price of $45 on Monday, up 48% over the last 30 days. This has seen some investors take profit after an extended period of rally.

According to data obtained from CoinGlass, HYPE’s Open Interest (OI), which represents the number of active futures and options contracts yet to be settled or closed, has declined by nearly 8% to $1.91 billion over the past 24 hours.

A decrease in OI signals declining interest in HYPE and the lack of trader conviction in the price discovery phase. 

In addition to the profit-taking, the ongoing crisis in the Middle East is affecting Bitcoin, Hyperliquid, and the broader cryptocurrency market. With the $40 support now broken, traders could be looking at the next major support level around $36.

HYPE eyes the $36 support level

With the broader cryptocurrency now bearish, HYPE has shifted bearish, at least in the short term. The sell signal from the Moving Average Convergence Divergence (MACD) indicator on the 4H chart shows that sellers are currently overpowering buyers in the market.

HYPE price chart

The blue line is set to cross below the red signal line, indicating a strong bearish momentum. Furthermore, the Relative Strength Index (RSI) has dropped from the overbought territory and is now heading into the 50 midline, signaling a firm bearish grip.

With the $40 support level now broken, the next key support is at around $36.00, with the 50-day Exponential Moving Average (EMA) set at $32.01 and the 100-day EMA at $27.41.

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Solana price prediction: SOL to test the $140 support level after Pump.fun ban

Key takeaways

  • SOL is the worst performer among the top 10 cryptocurrencies today, down 3.5% in the last 24 hours.
  • Its poor rally can be attributed to Pump.fun’s account ban on X and the ongoing conflict in the Middle East.

Crypto market still reeling from the Middle East crisis

The cryptocurrency market has had a bearish few days, courtesy of the ongoing conflict between Iran and Israel. Bitcoin, the leading cryptocurrency by market cap, has lost 3.4% of its value over the past seven days and currently risks dropping below $105k. At press time, the price of Bitcoin stands at $105,688 per coin. 

Thanks to the ongoing bearish performance, the total cryptocurrency market cap has dropped below $3.3 trillion.

SOL, Solana’s native coin, is one of the worst performers among the top 10 cryptocurrencies by market cap. While it is affected by the same fundamentals as the broader market, other catalysts have helped dampen SOL’s performance.

SOL dips to $150 on Pump.fun’s X ban

SOL is currently trading at $150.08, down 3.43% in the last 24 hours. Its poor performance can be attributed to the unexpected suspension of Pump.fun from X. Pump.fun is the leading memecoin launchpad on the Solana blockchain.

Social media platform X suspended the X accounts of Pump.fun, its co-founder, Alon Cohen, and several high-profile meme projects, including GMGN and ElizaOS. This was a major blow because Pump.fun had become a major driver of onchain activity and speculative momentum on Solana. Thousands of memecoins have launched on the Solana blockchain over the past few months, thanks to Pump.fun.

In addition to the Pump.fun X ban, the ongoing conflict in the Middle East is affecting the performance of Bitcoin, Solana, and other major cryptocurrencies. 

SOL could test the $140 support level

While SOL is trading around $150 at the moment, it could dump to the $140 support level in the coming hours or days. Currently, SOL is forming a descending triangle, a bearish reversal pattern. 

If SOL fails to bounce back after hitting the $140 support level, then the cryptocurrency could dump further and head towards the $110 psychological mark. Furthermore, the MACD is hinting at weakness, with the $140 support level could give way for a dump towards $110 in the near term.

SOL chart

Despite the ongoing bearish price action, SOL could bounce back if there is a ceasefire in the Israel-Iran conflict. Currently, capital is moving into the U.S. Dollar and Gold as safe-haven assets while risk-based assets like Bitcoin and Solana underperform. With a ceasefire, SOL could quickly reclaim the $170 resistance level.

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