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Can XRP Become The Cornerstone OF US Global Financial Policy?
As cryptocurrency regulations become clearer in the US, there are suggestions that XRP could lead the US financial resurgence. The comments from US Treasury Secretary Scott Bessent has given life to the theories for future XRP relevance but the spectre of its long-running case with the SEC looms behind.
RLUSD Will Change The Narrative For XRP
XRP’s community is buzzing with optimism that the asset could play a significant role in America’s ambition to keep the US dollar as the global reserve currency. Pundits are hinging their theories on recent comments by US Treasury Secretary Scott Bessent at the White House Crypto Summit.
Bessent confirmed plans to maintain the US dollar’s supremacy but disclosed a changing stance from fiat. According to Bessent, the US will explore other options including stablecoins to keep the dollar’s dominance as the primary currency for global trade.
“We will keep the US the dominant reserve currency and use stablecoins to do that,” said Bessent.
Right out the bat, XRP’s community is tipping RLUSD, Ripple’s USD-backed stablecoin to lead the new financial renaissance. Optimists say RLUSD has raft of positives to justify its bid to spearhead the US stablecoin ambitions.
RLUSD Surging Growth And Regulatory Compliance Gives It An Edge
RLUSD, live on the XRP Ledger and Ethereum, is recording impressive growth metrics in recent months. At the moment, RLUSD has a market capitalization of $140 million, rising by leaps and bounds.
Adoption rates for RLUSD have reached new highs with a 327% volume growth recorded over the last year. Furthermore, its cross-border payments capabilities puts it in prime position but it will have to stave off competition from Circle’s USDC following a string of regulatory victories the Middle East.
Experts are tagging RLUSD as a regulatory compliant stablecoin in the US, noting that the government’s decision to lean on the stablecoin will be “huge” for XRP. Higher RLUSD adoption will trigger an increased demand for XRP as the bridge asset, sending asset prices to new levels.
OCC Clears The Pathway For Increased Adoption
The Office of the Comptroller of the Currency (OCC) has announced that financial institutions in the US can carry out stablecoin transactions. The OCC, via its Interpretive Letter 1183, confirmed the end of Operation Chokepoint 2.o, allowing banks adopt RLUSD for transactions.
The inclusion of XRP in the Crypto Strategic Reserve and Digital Asset Stockpile signals broader regulatory acceptance for the assets. A masterstroke for XRP will be the dismissal of the Ripple SEC case as whales gobble up large coin volumes.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The Mantra team has addressed the crypto community following the Mantra (OM) token price crash of over 80% in the last 24 hours. Despite the statement, the community is still concerned that this might have been a rug pull by the team, which controls a huge amount of the token’s total supply.
Mantra Team Responds Following Token Crash
In an X post, the Mantra team assured the community that the token is “fundamentally strong” despite the crash that occurred in the last 24 hours. The team blamed the crash on “reckless liquidations” and denied it had anything to do with the project.
They further assured that this had nothing to do with the team and revealed that they were looking into the Mantra price crash and would share more details about what happened as soon as possible.
In an X post, the project’s co-founder, John Patrick Mullin, further revealed that there was a massive forced liquidation from a large OM investor on a Centralized Exchange (CEX). However, he didn’t reveal whether it was one of the top crypto exchanges.
In another X post, Mullin tried to set the record straight. He stated that they didn’t delete the Telegram channel. He further remarked that the team’s tokens all remain in custody and provided a wallet address (mantra…..quam) for community members to verify this claim.
The Mantra co-founder added that they are actively figuring out why these massive forced liquidations occurred and will provide more information as soon as possible. He assured that they are still here and not going anywhere.
Mantra Price Crashes By Over 80% In 24 Hours
CoinMarketCap data shows that the Mantra price has crashed by over 80% in the last 24 hours. The token sharply dropped from an intra-day high of $6.3 to as low as $0.4. However, it has reclaimed the $1 price level following the team’s statement.
However, amid this statement, some community members still seem convinced that this was a rug pull, as the team controls a huge amount of the token’s supply. Crypto commentator Sjuul described the OM token as the LUNA of this cycle.
He further explained why the community believes the crash was a rug pull, stating that the crash began when a wallet believed to be connected to the team suddenly deposited 3.9 million OM tokens to the OKX crypto exchange. This deposit led to significant selling pressure, which caused the Mantra price to crash.
Besides the token’s crash, the broader crypto market is witnessing a downtrend following US President Donald Trump’s statement in which he debunked reports of an exemption. This comes just a day after the crypto market rebounded following reports that the US president had exempted computers, phones, and chips from his tariffs on China and other countries.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Michael Saylor Hints At Another MicroStrategy Bitcoin Purchase, BTC Price To Rally?
MicroStrategy is lacing up for a potential Bitcoin purchase after Michael Saylor flashed the tell-tale buy signal. The incoming purchase will be the company’s first in Q2 after pausing Bitcoin purchases at the start of April in an eyebrow-raising move.
Michael Saylor Flashes Bitcoin Buy Signal
MicroStrategy CEO Michael Saylor has dropped clues that the software company will continue its Bitcoin accumulation spree. In an X post, Saylor shared MicroStrategy’s portfolio tracker revealing the company’s Bitcoin holdings and valuations.
Michael Saylor’s previous posts sharing Microstrategy’s portfolio tracker over the weekend have resulted in purchases at the start of the week. Investors are lapping up Saylor’s portfolio tracker post and the accompanying caption as cues for a BTC purchase on Monday.
“No tariffs on Orange Dots,” said Saylor, taking a jibe at brewing tariff wars between the US and China.
MicroStrategy had previously halted its Bitcoin purchase spree at the start of April leading to a slump in MSTR price. At the time, there was significant chatter that MicroStrategy may be forced to offload its Bitcoin holdings to cover obligations following a dip in prices.
Per the portfolio tracker, MicroStrategy holds 528,185 BTC on its balance sheet valued at $44.7 billion. Michael Saylor hinting at a potential Bitcoin purchase follows a small dip in prices with BTC holding the $83K mark.
Will Bitcoin Price Rally?
Saylor’s hint at buying Bitcoin has triggered a small bump in prices as the top cryptocurrency surpassed $83K. However, an actual purchase will trigger a significant price action for BTC in line with previous accumulations.
MicroStrategy’s last Bitcoin purchase of 22,048 BTC jolted the markets in line with investors’ expectations. However, there are fears that macroeconomic events like the US-China tariff war may affect a potential BTC rally following MicroStrategy’s incoming purchase.
Bitcoin price has rebounded after a previous bloodbath, sparking fresh optimism in the markets. Crypto Joao Wedson predicts that Bitcoin is not out of the woods yet and a grim drop to $65K is still a possibility for the top cryptocurrency.
“We’re not ruling out the possibility of the price dipping below $65K, as several metrics point to that region as strong support – such as the True Market Mean Price and Alpha Price, both sitting exactly around $64,700,” said Wedson.
Crypto analyst Doctor Profit warns that a BTC price drop to these levels may force MicroStrategy to sell MSTR to avoid liquidation.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The memecoin ecosystem has joined the latest revival in the broader market, with the Shiba Inu price now in the spotlight. The memecoin has reset its bearish outlook and will break crucial price milestones in the coming days.
For Shiba Inu, the death cross formation was confirmed on April 6 when the price dropped from $0.00001232 to a low of $0.00001030.
Shiba Inu Price Golden Cross Confirmed
Market data shows that the SHIB price is gradually disappearing from its earlier consolidation trend. At the time of writing, the coin’s price was changing hands for $0.00001249, up by 2.14% in 24 hours.
SHIB recovered after trading at a low price of $0.00001205 to a daily high of $0.00001265 before settling at the current level. This price boost comes as the SHIB burn rate jumped 1000% in early trading, setting the memecoin on a possible revival path.
The SHIB/USDT 4h chart confirms a golden cross pattern for the memecoin. This pattern is formed when the short-term Moving Average switches above the longer-term moving average.
Although this pattern is fully formed on the 4-hour chart, it is yet to form on the daily chart. However, with the current momentum, a confirmed breakout is possible. Already, the token has displaced Hedera and now ranks as the 17th largest cryptocurrency.
Shibarium Catalyst for Price Rebound
Different ecosystem factors can boost the price of Shiba Inu in the long term. One of these factors is closely tied to the outlook of Shibarium and its associated Layer-2 scaling solution.
As reported earlier by CoinGape, the Shibarium 200 million addresses milestone is near. If the network attains this landmark, it will show a clear sign of growing adoption, a move that might boost its token valuation.
Already, Shibarium has broken the 1 billion total transaction milestone. Should the Shiba Inu network continue to record organic growth, its chances of outranking Dogecoin is higher.
Amid the ongoing boost, the question remains how high the memecoin could soar. Drawing on this, a potential SHIB retest of its ATH of $0.00008844 is possible moving forward. While it will require as much as a 710% growth from current levels, SHIB can print this uptick, drawing on its historical trend.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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