About 24 hours after Minnesota Governor Tim Walz signed a bill into law passed 
by the state’s legislature to effectively ban prediction markets in the state, 
the CFTC pushed back with its own lawsuit.

About 24 hours after Minnesota Governor Tim Walz signed a bill into law passed by the state’s legislature to effectively ban prediction markets in the state, the CFTC pushed back with its own lawsuit.

CFTC sues Minnesota, Governor Tim Walz over prediction markets ban

While XRP attempts to hold a crucial area, some analysts have pointed to key 
indicators that could dictate whether the recent pullback is temporary or 
marks the start of a deeper correction. Related Reading: Bitcoin Rally On The 
Line: Analyst Explains Why This Weekly Close Is Critical XRP Rally Faces 
Critical Resistance On Tuesday, XRP continued its recent decline, falling to 
the $1.35 area, its lowest level since late April. The cryptocurrency has been 
trading between $1.36 and $1.50 over the past month, attempting to break out 
of the upper boundary on multiple occasions. Last Thursday, the altcoin 
rallied above this key resistance on the CLARITY Act progress, reaching a two- 
month high of $1.54. However, the price was quickly rejected from this level, 
tracing roughly 12% over the past five days. As the altcoin retested the $1.35 
area, market observer ChartNerd stated that XRP risks another price correction 
toward new lows, affirming that “the data speaks for itself.” The analyst 
highlighted some concerning signals for the altcoin’s rally, including a major 
resistance area above and the confirmation of a death cross in the weekly 
Stoch RSI. He pointed out that the weekly 20 and 50 EMAs, sitting at $1.50 and 
$1.80, are two crucial resistance levels that had not been retested since 
their January 2026 crossover, which led to XRP’s drop to its February low of 
$1.11. He also noted that the weekly Stoch RSI crossover has previously marked 
a local top for XRP, with the last two crosses producing deeper corrections 
and the latest one coinciding with the relief rally that led to the weekly EMA 
death cross four months ago. After the recent rally to $1.54, the price has 
now retested the weekly 20 EMA for the first time since the January crossover. 
A failure to successfully break above this level and turn it into sustained 
support “will likely open the next leg down later this year,” the analyst 
said. ‘Next Big Move’ Targets $1? ChartNerd emphasized XRP must reclaim both 
EMAs and turn them into support to invalidate the bearish scenario, but added 
that “it just doesn&#8217;t feel like the right time yet.” Even if the altcoin 
breaks toward $1.80, the analyst considers that the price will likely fail to 
hold it long-term and “at least come back to, at a minimum, fill in most of 
this wick back down towards the lower dollar levels.” He has explained that a 
rejection from these EMAs could potentially send the altcoin toward a cycle 
bottom of $0.70, as it is a previous level of macro resistance that hasn’t 
been retested yet. Meanwhile, analyst Ali Martinez affirmed that XRP is ready 
for a big price move. He highlighted that the altcoin has been developing the 
“tightest Bollinger Band squeeze” on the three-day chart in over a year, 
calling the current compression zone a “definitive ‘no-trade zone.’” Related 
Reading: Solana Fails Channel Breakout—$78 Support The Next Destination? He 
noted that when volatility compresses this tightly, “it’s a signal that a 
violent price expansion is approaching.” Therefore, the market observer 
advised investors to wait for a clean three-day candlestick close out of XRP’s 
current range, between $1.29 and $1.50, to confirm the next major trend 
direction. A close above the upper boundary would signal an expansion toward 
the $1.80 is likely. On the contrary, a breakdown from the lower boundary 
would invalidate the immediate bullish structure and open the door for a 
deeper correction toward the $1.00 psychological support. Featured Image from 
Unsplash.com, Chart from TradingView.com

While XRP attempts to hold a crucial area, some analysts have pointed to key indicators that could dictate whether the recent pullback is temporary or marks the start of a deeper correction. Related Reading: Bitcoin Rally On The Line: Analyst Explains Why This Weekly Close Is Critical XRP Rally Faces Critical Resistance On Tuesday, XRP &#8230;

XRP ‘Under Heavy Resistance’ After Key $1.50 Rejection – Is A Drop To $1 Next?

Senate advances Iran war powers vote, challenging Trump as Bitcoin traders 
watch oil, inflation and risk appetite across crypto markets now.

Senate advances Iran war powers vote, challenging Trump as Bitcoin traders watch oil, inflation and risk appetite across crypto markets now.

Senate vote targets Trump’s Iran war, crypto eyes relief

Truth Social crypto ETFs were pulled as Yorkville shifts from ’33 Act filings 
to ’40 Act funds amid weaker Bitcoin ETF demand in 2026.

Truth Social crypto ETFs were pulled as Yorkville shifts from ’33 Act filings to ’40 Act funds amid weaker Bitcoin ETF demand in 2026.

Trump-backed Truth Social scraps three crypto ETF bids

Dutch gambling regulator Kansspelautoriteit (KSA) warned licensees on Tuesday 
that bets on first yellow cards and first corner kicks are not permitted 
during the upcoming FIFA World Cup, threatening “immediate enforcement action” 
against operators breaching ad and sponsorship rules. Chairman Michel 
Groothuizen’s letter lands four months after the D66/VVD/CDA coalition 
agreement grouped online gambling with […]

Dutch gambling regulator Kansspelautoriteit (KSA) warned licensees on Tuesday that bets on first yellow cards and first corner kicks are not permitted during the upcoming FIFA World Cup, threatening “immediate enforcement action” against operators breaching ad and sponsorship rules. Chairman Michel Groothuizen’s letter lands four months after the D66/VVD/CDA coalition agreement grouped online gambling with &#8230;

KSA Hits Dutch Operators With Pre-World Cup Ad Crackdown, Vows Instant Sanctions

CFTC sues Minnesota to block its Aug. 1 prediction markets ban as crypto rules 
split between bank custody and kiosk restrictions statewide.

CFTC sues Minnesota to block its Aug. 1 prediction markets ban as crypto rules split between bank custody and kiosk restrictions statewide.

CFTC sues Minnesota, Governor Tim Walz over prediction markets ban

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