Spot Bitcoin exchange-traded funds in the United States recorded their highest daily inflows in three months, fuelled by renewed risk-on sentiment after President Donald Trump threatened to fire Federal Reserve chair Jerome Powell. According to data from SoSoValue, the 12…

Bitcoin ETF inflows hit 3-month high amid Trump-Powell tensions

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XRP (XRP) has been trapped within a tight range over the last eight days. The 
altcoin trades just above its $2.00 support after a marketwide recovery over 
the weekend.
Onchain and technical data now show that the XRP/USD pair is well-positioned 
for a breakout toward $3.00.
_XRP/USD daily chart. Source: Cointelegraph/TradingView_
## XRP whale accumulation is back
XRP&#8217;s price has been consolidating between $2.03 and $2.13 since April 14. The 
daily relative strength index (RSI) remained flat at around 49 over the same 
period, signaling market indecision.
Despite this sideways price action, whale activity paints a promising picture, 
with onchain data showing large investors took advantage of the drop to $1.61.
_**Related:**__**Coinbase Derivatives lists XRP futures**_
XRP whale addresses holding between 10 million and 100 million XRP (black 
line) have increased sharply since April 1, according to data from Santiment.
Similarly, addresses holding more than 1 billion XRP (red line) have steadily 
increased as well. This whale cohort currently accounts for 39.37% of the 
total XRP supply, compared to 37.67% toward the end of March.
This possibly underscores the confidence of these large investors in XRP price 
rising despite growing macroeconomic risks and uncertainties.
_XRP supply distribution. Source: Santiment_
Additionally, XRP experienced a significant drop in exchange reserves. XRP 
balance on exchanges peaked at 3.27 billion XRP in November 2024. Today, 
around 2.7 million XRP are held on exchanges. The metric has also dropped by 
10% over the last 30 days despite the market turbulence experienced since the 
beginning of April.
_XRP balance on exchanges. Source: CryptoQuant_
## Can XRP price rise to $3?
XRP&#8217;s price action between April 7 and April 22 has led to the formation of a 
bull flag pattern on the daily chart. The price is retesting the upper 
trendline of the flag at $2.10, suggesting that a possible breakout is in 
play.
Note that the price has unsuccessfully tried to rise above this trendline two 
to three times in the last ten days, with each retest leading to new buyers 
accumulating around this region.
A decisive close above this trendline could see XRP recover from the current 
level. It may break out toward the flag&#8217;s technical target at $2.93 or the 
$3.00 psychological level if backed by strong volume.
_XRP/USD daily chart. Source: Cointelegraph/__TradingView_
Several analysts echoed this bullish outlook, citing XRP&#8217;s consolidation as a 
precursor to a significant move upward.
Citing a chart showing XRP price consolidating above $2.00 in the weekly 
timeframe, popular trader Dark Defender said the altcoin was retesting a key 
multimonth resistance line.
If this resistance is broken, the price will break out, with Wave 5 playing 
out toward $4.00.
&gt; &#8220;The XRP is bullish, and the crypto is more bullish than ever before.&#8221;
_XRP/USD daily chart. Source:__Dark Defender_
The key levels to watch are the $2.22 and $2.75 on the upside and the $1.80 
and $1.61 on the downside, according to the analyst.
Meanwhile, fellow trader CasiTrades said that the rejection at $2.24 implied 
that the price is likely to sweep major support levels around $1.90 or $1.55 
before &#8220;XRP is ready to break out.&#8221;
As earlier reported by Cointelegraph, Wyckoff reaccumulation and falling wedge 
patterns are painting a bullish target for XRP above $3.50.
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

XRP price holds above key trendline — Can whale accumulation push it to $3?

Oregon Attorney General Dan Rayfield&#8217;s lawsuit against Coinbase argues that 
XRP and other digital assets are unregistered securities.
Rayield sued US-based, publicly traded crypto exchange Coinbase for allegedly 
violating Oregon&#8217;s securities law. In an April 18 announcement, the Oregon 
Department of Justice said the suit was part of an effort to fill what it 
described as a regulatory vacuum left by federal agencies under the Trump 
administration:
&#8220;States must fill enforcement vacuum being left by federal regulators who are 
abandoning these cases under Trump administration,&#8221; the department said.
Coinbase chief legal officer Paul Grewal voiced his frustration over the 
lawsuit in an April 21 X post. Justin Slaughter, the vice president of 
regulatory affairs at crypto investment firm Paradigm, pointed out that the 
lawsuit claims a long list of digital assets, including XRP (XRP), are 
unregistered securities.
_Source:__Paul Grewal_
Yarden Noy, partner at crypto legal firm DLT Law, told Cointelegraph that if 
the court ruled these assets are securities, it &#8220;would mostly create more 
confusion in this regard.&#8221; It would not be a binding precedent in other cases, 
not even within Oregon, he added.
Still, Noy explained that the court decision could be used by regulators and 
potential plaintiffs to build and make their cases. He said:
&gt; &#8220;Just like the decision in the Ripple case […] which the complaint seems to 
&gt; be ignoring entirely, did not make all tokens immediately listable on US 
&gt; platforms, I don&#8217;t expect the opposite to happen here.&#8221;
_**Related:**__**Court grants 60-day pause of SEC, Ripple appeals case**_
## A long list of crypto assets
Paradigm&#8217;s vice president of regulatory affairs Justin Slaughter called the 
action a &#8220;kitchen sink lawsuit.&#8221; The list of tokens cited includes high- 
profile altcoins such as Aave (AAVE), Avalanche (AVAX), Uniswap (UNI) and Near 
Protocol (NEAR), as well as the wrapped version of Terra&#8217;s collapsed token, 
wLUNA &#8212; but not LUNA itself.
The complaint does not explain why certain wrapped assets were included while 
others were excluded. It states:
&gt; &#8220;Coinbase&#8211;through the Coinbase Platform and Prime&#8211;has made available for 
&gt; trading in Oregon crypto assets that are offered and sold as investment 
&gt; contracts, and thus as securities. This includes, but is not limited to, the 
&gt; units of each of the crypto securities further described below.&#8221;
_**Related:**__**Circle, BitGo about to apply for bank charters, others may 
follow: WSJ**_
## XRP in the legal crosshairs once again
Ripple Labs, the firm behind XRP, has already faced a years-long legal battle 
with the US Securities and Exchange Commission. Ripple was hit with a lawsuit 
by the SEC in late 2020, calling XRP a &#8220;$1.3 billion unregistered securities 
offering.&#8221;
The same lawsuit was dropped by the SEC in late March, but it provided little 
legal certainty for the crypto industry. Oregon&#8217;s complaint comes amid growing 
concern among state officials that federal regulators are pulling back from 
crypto enforcement. The suit appears to be part of a broader trend of state- 
level authorities stepping in.
Before Oregon&#8217;s action, XRP&#8217;s legal standing was being viewed as increasingly 
clear. Coinbase &#8212; a crypto exchange known for its relatively cautious stance 
on regulatory matters &#8212; added XRP futures to its derivatives trading platform 
on April 21.
_**Magazine:**__**XRP win leaves Ripple and industry with no crypto legal 
precedent set**_

Oregon AG lawsuit against Coinbase calls XRP unregistered security

US-based publicly traded crypto exchange Coinbase confirmed that it is 
considering applying for a US federal bank charter.
In a statement sent to Cointelegraph, Coinbase said it is considering pursuing 
a US federal bank charter, a company spokesperson said.
&#8220;This is something Coinbase is actively considering but has not made any 
formal decisions yet,&#8221; the spokesperson told Cointelegraph.
_Coinbase in-office photo. Source:__Coinbase_
The comments follow recent reports suggesting that Coinbase and multiple other 
major crypto firms were planning to apply for a banking license in the United 
States. Coinbase, stablecoin issuers Circle and Paxos, and crypto custodian 
BitGo are the firms in question.
Coinbase did not clarify why it is considering pursuing a bank charter by the 
time of publication. Still, the license could potentially allow crypto firms 
to operate like traditional lenders, taking deposits and making loans.
On the other hand, firms that obtain banking charters are subject to stricter 
reporting and regulatory oversight. One example is Anchorage Digital, a crypto 
firm holding a federal bank charter.
Despite the firm obtaining the license, recent reports indicate that the US 
Department of Homeland Security&#8217;s El Dorado Task Force has reportedly launched 
an investigation into Anchorage Digital Bank.
_**Related:**__**Crypto companies seeking bank charters under Trump admin &#8212; 
Report**_
## Many crypto firms are likely to apply
Cointelegraph reached out to the other firms reportedly considering a charter. 
Coinbase was the only one to respond without denying the report.
The reports also follow the US Office of the Comptroller of the Currency 
granting a preliminary conditional approval for a US bank charter to Paxos 
back in 2021. The firms are now considering applying as the US regulators take 
a much softer stance on crypto regulation and integrate stablecoins in the 
broader financial system.
The change in stance is visible at multiple levels of the US federal 
government. Federal Reserve Chair Jerome Powell recently said that as digital 
assets gain mainstream adoption, establishing a legal framework for 
stablecoins is a &#8220;good idea.&#8221; He also recognized that the crypto space 
delivered a consumer use case that &#8220;could have wide appeal.&#8221;
_**Related:**__**ECB flags risk of financial contagion from US crypto push**_
## Evolving US stablecoin regulation
The US House Financial Services Committee passed a Republican-backed 
stablecoin framework bill earlier in April &#8212; the Stablecoin Transparency and 
Accountability for a Better Ledger Economy (STABLE) Act.
Another bill that is moving through the US legislative process is the Guiding 
and Establishing National Innovation for US Stablecoins (GENIUS) Act. The 
STABLE and GENIUS bills differ in how they regulate the stablecoin industry in 
their current form.
The GENIUS Act was introduced first and passed the US Senate Banking Committee 
in mid-March. The STABLE Act, on the other hand, emphasizes federal oversight, 
while the GENIUS Act seeks a more flexible path that considers both state and 
federal regulations.
The STABLE Act also enforces a two-year moratorium on issuing collateralized 
stablecoins that are backed by self-issued digital assets. The bill also 
enforces that stablecoin reserves be held separate from business funds.
The GENIUS Act establishes a legal framework for stablecoin payments and 
leverages US-based stablecoin issuers in an attempt to reinforce the dollar&#8217;s 
global dominance. The bill also enhanced Anti-Money Laundering (AML) 
safeguards, reserve and liquidity standards and sanctions checks. It 
classifies stablecoin issuers as financial institutions.
_**Magazine:**__**Coinbase and Base: Is crypto just becoming traditional 
finance 2.0?**_

Coinbase considering applying for US bank license

The XRP price crossing the $10 mark into the double-digit territory remains a 
widespread school of thought, and crypto analysts have, at different points, 
shared analyses that seem to support this notion. Most especially, since the 
XRP price broke the $3 mark and is now holding support above $2, it has given 
fuel to these expectations. One crypto analyst takes it a step further by 
giving a close timeline for when XRP could break above $20. 4 Reasons Why The 
XRP Price Could Rally Crypto analyst and XRP advocate, Diana on X (formerly 
Twitter), put forward a total of five different reasons why they believe that 
the XRP price is headed for double digits. These range from broader market 
moves to more specific developments to XRP. Related Reading: Bitcoin Price 
Still Has A Chance To Clear $90,000 If It Breaks This Level The first of these 
reasons is the historical performance and technical analysis. The crypto 
analyst points to the rally in 2024 that saw the XRP price cross $3 for the 
first time since 2017. Currently, the altcoin is seeing a consolidation after 
a price crash, but continues to hold above the Ichimoku support. If the XRP 
price repeats the rally from 2024, then a 600% rally to $17.50 could be on the 
horizon. Another reason why the XRP price could explode is the Ripple versus 
the Securities and Exchange Commission’s battle coming to an end. Once this is 
resolved, the analyst believes the regulatory clarity it brings would give 
institutions insight to buy into the altcoin. Next is the high number of XRP 
ETFs that have been filed so far. Pointing to the performance of Bitcoin and 
Ethereum after their respective ETFs were approved, the XRP price could see a 
similar rise in price. Moving toward adoption, the ISO 20022 and the Fedwire 
adoption is another catalyst revealed by Diana. It is possible that the 
Fedwire could see XRP embedded in global banking rails, bringing newfound 
utility that could trigger another XRP price rally. Timeline To Reach $20-$25 
As for when the XRP price could climb above $20, the crypto analyst believes 
that this could happen as early as January 2026. Using the fundamentals, she 
points to a 600% post-ETF rally similar to that of Bitcoin, which would mean 
that from here, it would take it to $17.50. But a 1,000% rally could possibly 
take it as high as $27.50. Related Reading: Bearish Case For Bitcoin: Analyst 
Warns Falling Wedge Is A Whale Trap That Could Drag Price To $67k For the 
three possible scenarios, the crypto analyst predicts a 300% rally to $10 as a 
conservative target. Then a 500% rally to $17.50 as a base target. Finally, a 
1,000% rally to $27.50 as an aggressive target. However, in all of this, the 
crypto analyst says the XRP price must break $3.40 for another rally to take 
place. Featured image from Dall.E, chart from Tradingbview.com