XRP has faced three consecutive days of bearish pressure and is now hovering around a critical short-term support level at $2.00. The technical setup suggests this level is pivotal: if bulls defend $2.00, a rebound toward $2.24 and even $2.40 could occur. However, failure to hold this support may trigger more selling, targeting $1.96, $1.90, and potentially $1.86. Fundamentally, XRP sentiment remains cautiously optimistic. The SEC’s decision to drop its appeal over XRP’s non-security classification reduces legal uncertainty. Ripple’s acquisition of Hidden Road also signals a strategic push for institutional adoption, boosting market confidence. The $2.00 mark is now a key decision point likely to define XRP’s short-term direction.
Mantra CEO Pledges to Burn Entire Team's Token Allocation, OM Price Increases 30%
After a major 90% crash, Mantra (OM) is making a partial recovery with CEO John Patrick Mullin promising to burn his team's token allocation worth hundreds of millions of dollars to regain community trust. The crash led to panic and forced liquidations across crypto exchanges with speculation of insider dumping and manipulation by the Mantra team.
Mullin responded by denying these allegations and clarified that the team’s 300 million OM tokens will stay locked until at least April 2027. He also announced plans to permanently burn his allocation of 772,000 OM tokens, equivalent to 0.25% of the team’s share. Following Mullin's announcement, OM experienced a 31% increase in the last 24 hours, indicating a tentative market confidence.
According to renowned analyst Ali Martinez, over 72% of DOGE futures positions on Binance are currently long — indicating most traders are betting on a price increase. However, DOGE has dropped 4.1% in the past 24 hours, now trading at $0.154 after being rejected at $0.17. Historically, overly bullish sentiment often leads to corrections: in late March, when longs surpassed 76%, DOGE dropped from $0.19 to $0.13 following Trump’s trade war news. XRP showed a similar pattern. Meanwhile, Dogecoin whales accumulated over 800 million DOGE recently, reducing supply and possibly sparking retail FOMO. Analysts still see upside potential, predicting up to 3x surges. Crypto School charted DOGE’s pivotal level, suggesting a breakout to $0.23 or a fall to $0.11 depending on the coming days.
S&P 500 futures fell 1.6% early Wednesday, wiping out nearly two days of gains amid growing concerns over U.S. trade policy, including potential new tariffs on Chinese semiconductors and pharmaceuticals. Meanwhile, Bitcoin underperformed, trading around $83,400 and falling 2.8% in 24 hours, diverging from the safe-haven rally in gold (+2.7%) and U.S. 10-year bonds (+0.55%). Oil dropped 1.13%, and the DXY fell 0.44%. Investors shifted to defensive assets after the White House confirmed U.S. tariffs on Chinese goods had reached 145% and launched a new national security probe. While gold hit a record high above $3,261/oz, Bitcoin’s muted performance raised doubts about its near-term macro hedging role.
🇺🇸 European rating agency Scope has issued a warning regarding a potential downgrade of the US sovereign credit rating due to uncertainty surrounding US trade policy.
The agency outlines three possible scenarios for the credit outlook: a "tariff-light" approach, a full-scale trade war, or a broader economic and financial crisis that could include the introduction of US capital controls.
Alvise Lennkh-Yunus, head of sovereign and public sector ratings at Scope, noted that the recent announcement of US trade tariffs represents a significant escalation in protectionist policies, which could lead to the largest peacetime trade shock in over a century.
The impact on growth, inflation, and public debt will depend on the macroeconomic environment shaped by US policies and the responses of trading partners.
Scope emphasizes that the US, as the epicenter of this policy shift, faces significant vulnerabilities, particularly if alternatives to the dollar emerge amid a prolonged trade conflict.
Lennkh-Yunus warned that “in a scenario of a protracted trade war and/or the introduction of US capital controls, viable alternatives to the dollar could emerge,” potentially leading to deeper trade relationships between China 🇨🇳 and the EU 🇪🇺, further opening of China’s capital accounts, or an acceleration of the EU’s Savings and Investment Union, all of which could negatively impact the US credit rating.
What do you think about the potential implications of these trade policies on the US economy and credit rating?
#CongressTradingBan
The information regarding the ban on congressional stock trading is current up to January 15, 2025. There are ongoing efforts to pass legislation that would prohibit members of Congress, their spouses, and dependent children from trading individual stocks.
Two relevant bills are :
- *TRUST in Congress Act*: This bipartisan bill, reintroduced in January 2025, aims to ban lawmakers and their immediate family members from owning individual stocks. It requires them to either divest from individual stock holdings or move their investments into a qualified blind trust.
- *No Corruption in Government Act*: Introduced in January 2025, this bill would prevent members of Congress and their spouses from holding or trading individual stocks, repeal automatic annual pay raises, and triple the lobbying ban for lawmakers.
Additionally, President Donald Trump is considering a ban on stock trading by members of Congress, according to recent reports . These developments indicate that the issue is actively being addressed in the current legislative session.
Brazilian fintech firm Meliuz plans to make Bitcoin its main strategic treasury asset. The proposal will be presented to shareholders on May 6. If approved, Meliuz will accumulate more Bitcoin through operating cash flow and strategic financial transactions. After the announcement, Meliuz’s (CASH3) stock price jumped over 14% and has risen more than 27% in the past five days. Meliuz first purchased Bitcoin in March—45 BTC worth $4.1 million. In Q1 2025, 12 public firms, including Meliuz, added Bitcoin to their balance sheets.
#CanadaSOLETFLaunch
Canada is set to launch the world's first spot Solana ETFs with staking on April 16, 2025. This groundbreaking move allows investors to not only track the price of Solana (SOL) but also earn potential income through staking rewards. Major issuers like Purpose, Evolve, CI, and 3iQ will debut these new funds, which will hold physical Solana and actively stake the SOL tokens.
*Key Details:*
- *Launch Date:* April 16, 2025
- *Type:* Spot Solana ETFs with staking
- *Issuers:* Purpose, Evolve, CI, and 3iQ
- *Unique Feature:* Combines direct asset holding with yield generation through staking rewards
*Market Impact:*
The anticipation of this launch has already shown a positive impact on Solana's price, which is currently trading at $130.78 with a 1.91% daily gain. Technical indicators like the Relative Strength Index (RSI) and MACD suggest a bullish short-term outlook for Solana's price .