Schlagwort: crypto business

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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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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.

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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.

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XRP price soars 24% last week: what’s next for the Ripple token?

  • XRP rallies 24% on SEC approval of XRP-linked ETFs from ProShares and Grayscale.
  • Volume explodes with over 182 million tokens traded, signaling strong institutional and retail demand.
  • Breakout above $3.20 clears long-term resistance, unlocking upside targets up to $6.50.

XRP took the crypto market by surprise last week, jumping nearly 24% and hitting new all-time high levels. 

The token climbed to $3.27 and briefly spiked to $3.64 during intraday trading, marking a big breakout after months of stagnation.

The rally seems to have been sparked by a mix of factors: buzz around newly approved ETFs, fresh interest from big institutional players, and solid technical momentum.

All of it played out against the backdrop of an overall bullish mood in the crypto space, giving XRP the fuel it needed to take off.

What drove XRP price rally?

ETFs became one of the big reasons behind XRP’s breakout. After years of waiting, July saw the SEC finally approve several XRP-linked exchange-traded funds, ProShares and Grayscale among them.

That opened the door for serious money to get involved. Once those products started trading on US exchanges, the floodgates opened.

XRP volumes exploded, with more than 182 million tokens changing hands at one point. It wasn’t just hype; there was real buying from both institutions and retail investors jumping at the new access.

Adding to the momentum, Grayscale brought XRP back into its Digital Large Cap Fund, the first time since the regulatory fog started to clear.

It’s a signal that Wall Street is getting more comfortable with XRP’s legal standing.

At the same time, Ripple’s push to secure a US bank charter is giving investors more confidence that the company and its token are moving toward firmer regulatory footing.

Key technicals 

XRP didn’t just make headlines last week; it made a real move. After years of going sideways, it finally broke through stubborn resistance around $3.05 and $3.20, levels that traders had been watching forever.

That breakout also cleared the top of a massive symmetrical triangle that’s been in play since 2018.

With that technical lid off, some chart watchers are now floating price targets in the $4.70 to $6.50 range, though, as always, it’ll depend on whether the momentum sticks around.

Behind the scenes, big players seem to be piling in.

Wallets holding over a million XRP have hit record highs, a strong sign of large-scale accumulation.

Meanwhile, perpetual futures open interest has ballooned to an all-time high of $8.8 billion, roughly 2.9 billion XRP worth of leveraged bets, hinting at a surge in activity from both speculators and pro traders managing risk.

What’s next? 

Most analysts think XRP’s rally still has room to run, assuming ETF inflows keep coming and there aren’t any surprise moves from regulators.

In the short term, traders are watching the $3.40 to $3.60 range, with $4 looming as the next big hurdle, both technically and psychologically.

If momentum holds and Ripple keeps chalking up regulatory wins, some are eyeing a push toward $4.50, maybe even $6, in the next few months.

That said, it’s not all blue skies. If XRP slips back below $3.00, it could trigger a pullback toward the $2.80–$2.90 zone, especially if the broader crypto market cools off or headlines take a bearish turn.

Still, with a shot at a new all-time high and its market cap approaching the $200 billion mark, XRP looks set to remain one of the top stories heading into Q4.

 

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Dogecoin breaks seven-month downtrend with 12.48 % price spike

  • Weekly close could confirm a breakout and a rally setup.
  • Pattern mirrors October 2023’s 600 % surge.
  • A breakout could shift sentiment across meme coins.

Dogecoin (DOGEUSD) is now trading at $0.2416, up 12.48 % in the past 24 hours, after breaking above a seven-month descending trendline that has capped its price since December.

This move positions DOGE for its strongest rally of the year.

Dogecoin price
Source: CoinMarketCap

If the weekly candle closes above this resistance on Sunday, analysts anticipate a potential move toward the $0.50–$0.60 range, representing a further 100–150 % gain from current levels.

The setup closely mirrors a breakout pattern seen in October 2023, which led to a 600 % rally and sparked widespread retail interest.

DOGE confirms breakout with price and volume surge

Dogecoin had been locked in a downtrend for over half a year, repeatedly rejected at the same diagonal resistance.

This week, that pattern broke.

With DOGE trading above the long-term trendline and price action supported by rising volume, technical signals suggest the early stages of a potential trend reversal for the meme-inspired cryptocurrency.

The price currently sits at $0.2416, having climbed over 12 % in a day.

This breakout candle is holding strength, and market activity has increased—key factors that could confirm the breakout if maintained through the end of the week.

Weekly closes carry more weight than short-term spikes when interpreting long-term structures, particularly those spanning several months.

Breakout opens path toward $0.50–$0.60 range

If the current move holds, Dogecoin’s next resistance zone lies in the $0.50–$0.60 range.

There is limited historical resistance until that level, making a sharp climb feasible.

Dogecoin has previously demonstrated that, once past key levels, price momentum can accelerate rapidly with minimal pullbacks.

This scenario played out in October last year when DOGE broke through a similar pattern and surged 600 % within weeks.

While history does not guarantee repetition, the resemblance in structure has drawn attention from chart analysts across the market, especially those tracking behavioural patterns in meme coins.

Memecoin sentiment may shift on confirmation

Dogecoin remains the largest meme coin by market cap and is often viewed as a bellwether for sentiment in the altcoin sector.

Breakouts in DOGE tend to precede rallies in smaller meme tokens.

If the weekly close confirms this breakout, it could trigger renewed interest and investment in the broader memecoin market, and altcoin trading volumes may rise in tandem.

The current rally aligns with early signs of recovery in the altcoin space, where tokens typically gain momentum in response to improving market sentiment.

Dogecoin’s performance this week may signal that the shift is already underway.

All eyes on Sunday’s weekly close

Although Dogecoin has broken the downtrend intraday, the crucial milestone is Sunday’s weekly close.

A sustained close above the trendline would validate the breakout and give traders confidence in pursuing higher targets.

If rejected before then, DOGE may re-enter the previous range, delaying the bullish thesis.

For now, however, the structure, volume, and price action all point toward a potential upside continuation in the near term.

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