CryptoNewsUpdate

Why is XRP Going Up Today: Futures ETFs Approval by SEC the Reason?
The altcoin market is experiencing massive action today, particularly for XRP, which is currently trading at approximately $2.33, up 7.10% over the past 24 hours and 9% higher over the past week. Its market cap is now at $136.29 billion, with a $4.98 billion trading volume over one day.

Source: CoinMarketCap
Why is XRP Going Up Today?
There are several compelling reasons for the price increase in the altcoin today:
ProShares to Debut Futures ETFs on April 30: ProShares Trust has been cleared by the SEC to introduce futures ETFs, which will start trading on April 30, 2025. The three products include ProShares Ultra (2x leverage), Short (-1x inverse), and UltraShort (-2x inverse), tracking the Ripple Index. ProShares’ spot ETF application remains pending. The approval follows ProShares’ January 17 filing after Trump’s election. Teucrium already launched an futures ETF earlier this month, while Hashdex introduced the first-ever spot Ripple ETF in Brazil.
First XRP ETF Launches in Brazil: the altcoin received its first-ever ETF, XRPH11, listed on Brazil's B3 exchange on April 25, 2025. It follows the Nasdaq XRP Index and is managed by Hashdex and Genial Investimentos. The move paves the way for additional institutional users to invest safely in the coin.
CME Group to Introduce Futures: Another big shot in the arm was from CME Group, which stated it would introduce futures from May 19. Futures contracts enable large investors to place a bet on the price without actually holding the token.
These big developments served to draw tremendous attention from both retail and institutional customers. Experts even estimate that these events could bring in up to $8 billion in fresh investments.
XRP Price Prediction
Looking at TradingView price chart, the token had a big rally from $0.50 in November 2024 to a peak of nearly $3.50 in January 2025 — a huge 600% gain. After that, the coin went through a correction, falling below $2.00 in April but now showing signs of a slow recovery.

Source: TradingView
Bullish View: If XRP price holds above $2.40 and breaks the next big resistance at $2.80, it might move back to the $3.50 area. If the momentum remains powerful, analysts feel that the altcoin might even reach $5.00 by the end of 2025.
Bearish Outlook: If the coin is unable to stay above $2.40 and dips below $2.00 again, the coin may slide down to $1.50 or even $1.20.
Will XRP Reach $10 in 2025?
Right now, a move to $10 looks tough. To get there, the coin would need a 326% gain from today’s price. According to Polymarket data, the chance of the altcoin hitting a new all-time high before 2026 has dropped to 38%. Last December, the chance was 60%, but delays in SEC-related updates and no spot ETF approval have made users cautious.

Source: Polymarket
However, the crypto market is always full of surprises. A final positive decision in the SEC-Ripple case could act like fuel and help the crypto aim for new highs again. Additionally, the investors are advised to do detailed research before making any investment.

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Shiba Inu ecosystem leader Shytoshi Kusama has emphasized the pivotal implication of a new partnership recently secured by Shiba Inu. 

Read more on: https://thecryptobasic.com/2024/02/29/shiba-inu-lead-kusama-says-this-new-partnershib-is-massive-for-shib/
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Earlier this week, the Shiba Inu (SHIB) ecosystem raised a petition to launch an ETF product for the token, a petition that has now received over 2,000 votes.

Read more on: https://thecryptobasic.com/2024/02/28/shiba-inu-etf-petition-gains-momentum-garnering-2k-signatures/
#SHIBA_INU #SHIB_CON #Crypto #CryptoNews🔒📰🚫 #CryptoNewsUpdate

Shytoshi Kusama, the Shiba Inu ecosystem team lead, has dropped a hint suggesting he could attend the ongoing Ethereum developer conference unfolding in Denver, Colorado.

Read more on: https://thecryptobasic.com/2024/02/28/shiba-inu-lead-gives-hint-to-attend-eth-denver/
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Why Is Crypto Down Today: Bitcoin Dump or Healthy Pullback?
The cryptocurrency market took a sharp downturn following former President Donald Trump’s executive order establishing a Strategic Bitcoin Reserve for the U.S. government. This move, coupled with ongoing macroeconomic concerns, sparked a sell-off in major cryptocurrencies. Investors are now keenly watching the Crypto Summit 2025 for potential recovery signals.
Why is Crypto Down Today: Who’s Behind the Crypto Crash?
The global crypto market cap plummeted to $2.87 trillion, marking a 4.41% decline in the past 24 hours. Despite an 11.43% surge in trading volume, fear continues to grip the market. Bitcoin’s dominance fell to 60.37%, reflecting heightened volatility.
Several key reasons contributed to today’s crypto crash:
Trump Signs Crypto Executive Order: The primary reason behind the crypto crash today is Trump’s announcement of a Strategic Bitcoin Reserve through an executive order. The order mandates that Bitcoin seized by the U.S. government from past law enforcement actions be held as a long-term store of value rather than being liquidated. Trump signs crypto reserves to strengthen the U.S.’s stance on digital assets, but the immediate effect has been a market-wide sell-off.Stock Market Turmoil: In a correlated market reaction, the stock market also crashed following Trump’s Bitcoin reserve announcement. The market’s decline, coupled with extreme volatility in the S&P 500, has added to the uncertainty. 

Source: X
The S&P 500 has seen daily market cap swings exceeding $500 billion, with MicroStrategy’s stock ($MSTR) dropping 7% after Trump’s announcement.
Crypto Summit White House Time: The upcoming March 7, 2025 Crypto Summit scheduled for 6:30 pm to 10:30 pm UTC is anticipated to address regulatory policies, but uncertainty surrounding it has left the market in fear.
Crypto Market Performance: Bitcoin, Ethereum, Cardano Prices Drop
The sell-off impacted major cryptocurrencies severely:
Bitcoin (BTC): Dropped 5% to $87,179.95, with a market cap of $1.72T and a 24-hour volume of $59.36B.Ethereum (ETH): Fell 6% to $2,149.28, with a market cap of $259.25B and a trading volume of $21.6B.Cardano (ADA): Plunged 10.44%, now priced at $0.8588 with a market cap of $30.25B and $3.07B in trading volume.
Investors fear further declines, with questions like ‘Why did crypto crash today?’ and ‘Why is crypto crashing?’ dominating discussions.
Fear and Greed Index: Shift from Extreme Fear to Fear
The Fear and Greed Index currently sits at 34 (Fear), showing a recovery from Extreme Fear (25) yesterday and 16 last week. 

This shift suggests that despite today’s sell-off, market sentiment is gradually improving. Historically, fear-driven markets often present buying opportunities before potential rebounds.
Will Crypto Recover or Crash Further?
The market’s direction depends on upcoming events and investor sentiment:
No Government BTC Purchase: The statement that “The government will not acquire additional assets for the Stockpile beyond those obtained through forfeiture proceedings” led to panic selling.Pro-Bitcoin Lawmakers’ Views: Some lawmakers emphasized that Bitcoin is not a competitor to the U.S. dollar but rather a hedge against inflation, helping ease concerns.Crypto Summit 2025 Optimism: With Crypto Czar David Sacks leading discussions, investors hope for regulatory clarity and market stability.
Conclusion
Today’s crypto crash was largely triggered by Trump’s announcement of a Bitcoin reserve without new purchases. With the White House Crypto Summit around the corner, investors are awaiting further developments. While the market may experience further dips, the shift in Fear & Greed Index suggests a potential turnaround in the near future.
#CryptoNews #cryptonewsupdate

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The official Shiba Inu X account has captured the broader community’s interest with a moon depiction, showcasing the asset’s potential as it slips into the top 10 amid a surge above $0.000027.

Read more on: https://thecryptobasic.com/2024/03/04/shiba-inu-officially-posts-moon-depiction-as-shib-enters-top-10-amid-surge-to-0-000027/
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Shiba Inu lead developer, Shytoshi Kusama, believes the time has come for the project to showcase its true power.

Read more on: https://thecryptobasic.com/2024/03/04/shiba-inu-lead-says-with-new-friends-its-time-to-level-up-to-show-shib-true-power/
#SHIBA✅🚀 #SHIBA_INU #Crypto #CryptoNews🔒📰🚫 #CryptoNewsUpdate