Pepe is encountering resistance, but this rejection could mark the beginning of a bullish continuation setup. Traders are watching for a potential higher low that may set the stage for a strong rotation to the upside. Pepe price action (PEPE)…

Pepe eyes higher low formation after local rejection — is a 35% rally on the table?

Coinbase&#8217;s XRP futures launch could enhance market liquidity and attract 
diverse traders, potentially influencing broader crypto adoption trends.
The post Coinbase launches XRP, nano XRP futures contracts appeared first on 
Crypto Briefing.

Coinbase launches XRP, nano XRP futures contracts

Bitcoin miners face the tightest margins since 2023, warns theminermag.com&#8217;s 
Head of Research Wolfie Zhao, as hashprice flirts with critical break‑even 
territory. Trump Tariffs Add Jitters to Miners Already Hit by Rising 
Difficulty, Study Finds According to theminermag.com data compiled by Wolfie 
Zhao, hashprice temporarily fell below $40 per petahash per second in early 
April, […]

Hashprice Below $40? Mining Report Paints a Stark Picture for Bitcoin Miners

In a surprising move within the crypto market, XRP has surpassed Ethereum 
(ETH) in a key valuation metric: Fully Diluted Market Capitalization (FDMC). 
While Ethereum has been in a downtrend this bull cycle, XRP’s performance over 
the last six months has been nothing short of impressive, leading to it 
quietly overtaking the world’s second-largest cryptocurrency by market 
capitalization. XRP Flips Ethereum In FDMC Edward Farina, a crypto analyst and 
outspoken XRP supporter, took to X (formerly Twitter) on April 18 to announce 
that XRP has officially overtaken Ethereum in terms of Fully Diluted Market 
Capitalization. The FDMC represents the total potential value of a 
cryptocurrency if all of its tokens were in circulation. Related Reading: Why 
XRP Could Beat Dogecoin, Solana In ETF Race And Trigger A Price Surge This 
metric is usually calculated by multiplying a cryptocurrency’s current price 
by its maximum token supply. This contrasts with the more commonly referenced 
market capitalization metric, which only factors in circulating supply. At the 
time of his post, Farina reported that XRP’s FDMC had reached $208.4 billion, 
surpassing Ethereum’s $192.5 billion by approximately $15.9 billion. This 
marks over six consecutive months of XRP outperforming Ethereum in terms of 
projected value, signaling a potential shift in altcoin dominance between the 
two leading cryptocurrencies. Despite XRP’s FDMC milestone, it&#8217;s worth noting 
that Ethereum’s current market capitalization remains significantly higher. As 
of writing, ETH’s market cap is estimated at $199.14 billion, compared to 
XRP’s $124.3 billion, reflecting a difference of around $74.84 billion. The 
key reason for this discrepancy between XRP’s market capitalization and FDMC 
lies in its unique token structure. A significant portion of XRP’s supply is 
held in escrow, meaning those tokens are not yet available in the open market. 
While they do not count toward the circulating supply, they are included in 
its Fully Diluted Market Capitalization. The implication behind this 
distinction remains clear: if all of XRP’s tokens in escrow were unlocked and 
circulated today, its market value could exceed that of Ethereum. As the 
altcoin steadily gains momentum in valuation metrics and investor interest, it 
could pose a significant challenge to Ethereum’s position as the number one 
altcoin and second-largest cryptocurrency. Bollinger Bands Signal Major Move 
In The Altcoin Price The XRP price could be gearing up for a significant move 
upward as technical chart indicators point toward rising volatility. A recent 
analysis of the 4-hour chart by crypto analyst Ali Martínez shows Bollinger 
Bands tightening — a classic signal that often precedes a breakout. Related 
Reading: XRP Price Approaching Next Major Liquidity Zone, Main Levels To Watch 
Out For Currently trading near the midline of the bands after a bounce from 
the lower support zone, XRP is now consolidating within a narrow range. The 
“squeeze” pattern reflects reduced volatility. While the target of the 
proposed price move remains uncertain, Martinez is confident that its next 
breakout is just around the corner. Featured image from Unsplash, chart from 
Tradingview.com

XRP Surpasses Ethereum In This Major Metric After Outperforming For 6 Months

A member of the House of Representatives has proposed legislation aimed at 
stopping investors from using the US territory of Puerto Rico as a crypto tax 
haven.
According to an April 21 Bloomberg report, New York Representative Nydia 
Velazquez introduced the Fair Taxation of Digital Assets in Puerto Rico Act, a 
bill that could change existing laws in the territory to require certain 
investors to pay local and federal taxes on capital gains, including from 
digital assets. The legislation would reportedly add text to Puerto Rico&#8217;s 
Internal Revenue Code, making income from cryptocurrencies subject to federal 
tax laws.
&#8220;This wave of crypto investors hasn&#8217;t helped Puerto Rico&#8217;s recovery or 
strengthened the local economy,&#8221; said Rep. Velazquez, according to Bloomberg. 
&#8220;Instead, it&#8217;s driven up housing costs, pushed out local residents, and added 
pressure to an island where nearly 40% of people live in poverty &#8212; all while 
costing the federal government billions in lost tax revenue.&#8221;
Puerto Rico is well known as a tax haven for many people in the crypto 
industry since the territory began allowing exemptions in 2012 under Act 20 
and Act 22 of the Tax Incentives Code &#8212; later consolidated as Act 60. The 
island has attracted investors, including Pantera Capital founder Dan 
Morehead, venture capitalist Brock Pierce, and online influencer Logan Paul.
_**Related:**__**NFT trader faces prison for $13M tax fraud on CryptoPunk 
profits**_
## Missing out on crypto tax revenue
Rep. Velazquez&#8217;s office reportedly said Puerto Rico could lose roughly $4.5 
billion in revenue from 2020 to 2026 due to the tax incentives in place. In 
contrast, Puerto Rico Governor Jenniffer Gonzalez-Colon proposed extending Act 
60, set to expire in 2035, to the end of 2055, but requiring applicants to be 
subject to a 4% capital gains tax rate, smaller than the typical range up to 
37% in the US.
It&#8217;s unclear whether the legislation proposed by Rep. Velazquez, a Democrat, 
would have enough political support to pass in the Republican-controlled House 
or Senate. Both chambers will likely consider floor votes for stablecoin 
legislation and a crypto regulatory framework in the coming months.
_**Magazine:**__**XRP win leaves Ripple and industry with no crypto legal 
precedent set**_

US lawmaker targets crypto investors using Puerto Rico as a tax haven

Coinbase has listed futures contracts for the XRP token on its US derivatives 
exchange, the cryptocurrency platform said on April 21.
The contracts are overseen by the US Commodity Futures Trading Commission 
(CFTC) and offer traders &#8220;a regulated, capital-efficient way to gain exposure 
to one of the most liquid digital assets,&#8221; the company said in a post on the X 
platform.
Coinbase&#8217;s XRP (XRP) futures include standard contracts representing 10,000 
XRP and retail-oriented &#8220;nano&#8221; contracts representing 500 XRP each, or 
approximately $1,000 as of April 21, according to regulatory filings. 
The contracts are the latest crypto futures to launch on Coinbase&#8217;s 
derivatives exchange, which also features Solana (SOL) and Hedera (HBAR) 
futures contracts, both added in February.
_Source:__Coinbase_
 _**Related:**__**Coinbase in talks to buy derivatives exchange Deribit: 
Report**_
## Burgeoning market segment
Since 2024, US exchanges &#8212; including Coinbase, Robinhood and Chicago 
Mercantile Exchange &#8212; have been expanding crypto futures offerings in 
response to strong demand from retail and institutional investors.
Futures contracts are standardized agreements to buy or sell an underlying 
asset at a future date. They are popular for hedging and speculation because 
they let traders take long and short positions, often with leverage.
Coinbase lists derivatives tied to some 92 different assets on its 
international exchange and approximately two dozen in the US, according to its 
website.
Its US-traded products include contracts tied to memecoins, such as Dogecoin 
(DOGE), and commodities, such as oil and gold.
_Coinbase&#8217;s stock performance vs. the S &amp;P 500. Source: JPMorgan_ 
In December, Coinbase said derivatives trading volumes soared roughly 10,950% 
in 2024. The exchange is reportedly in talks to buy Deribit in a bid to expand 
its derivatives footprint.
Coinbase launched its US derivatives exchange in 2022, bringing cryptocurrency 
futures &#8212; including retail-oriented &#8220;nano&#8221; contracts &#8212; to tens of millions 
of US users.
Launched in 2012, XRP Ledger is among the oldest blockchain networks and 
specializes in payments and decentralized finance (DeFi) applications for 
institutions.
As of April 21, XRP&#8217;s market capitalization stands at approximately $120 
billion, according to CoinMarketCap.
In March, the US Securities and Exchange Commission (SEC) dropped a years-long 
lawsuit against XRP Ledger&#8217;s developer, Ripple, for alleged securities law 
violations.
_**Magazine: **__**Crypto &#8216;more taboo than OnlyFans,&#8217; says Violetta Zironi, 
who sold song for 1 BTC**_