Coinbase has made an official statement in the landmark Supreme Court case, which challenges IRS&#8217;s powers to demand crypto-related data.

Coinbase to Supreme Court: IRS crypto dragnet was unconstitutional

Crypto analyst Cryptokijker has revealed that the Dogecoin price is poised for 
a breakout amid massive whales’ accumulation. The analyst also revealed the 
price targets that DOGE could reach following this breakout. Dogecoin Price 
Poised For Breakout Above $0.17 In a TradingView post, Cryptokijker predicted 
that the Dogecoin price is poised for a breakout above $0.1790. The analyst 
revealed that the targets on this potential breakout are $0.1840 and $0.1920. 
He noted that the price at this level is showing a neutral-bullish structure 
after the recent breakout above the Previous Day Low (PDL). Related Reading: 
Crypto Analyst Says Dogecoin Is Repeating History – Here’s What Happened The 
analyst also highlighted a hidden bullish divergence spotted on the Relative 
Strength Index (RSI), indicating strength beneath the surface. This Dogecoin 
price prediction comes amid a massive accumulation of DOGE by whales. He noted 
that smart money has been accumulating heavily within the discount zone 
between $0.15 and $0.16, which supports this bullish bias. The analyst 
observed that the break of structure on the chart signals the start of a 
markup phase. He further remarked that the volume profile supports the 
accumulation-to-expansion transition. Meanwhile, the strong support confirmed 
at the $0.1760 zone aligns with previous discount accumulation, and the 
momentum building above the PDL suggests that the Dogecoin price could sustain 
this bullish momentum. Market participants will also be watching the 
psychological $0.2 level for the Dogecoin price on this potential breakout. 
Crypto analyst Ali Martinez revealed that DOGE could rally towards its all- 
time high (ATH) if it can secure a monthly close above $0.20. The analyst 
remarked that such a breakout would signal strong bullish momentum and 
potentially attract increased investor interest. It is worth mentioning that 
crypto analyst Master Kenobi also recently predicted that the Dogecoin price 
could reach a new ATH by June. He stated that the foremost meme coin could hit 
as high as $0.9 on the rally to a new ATH. Other Factors That Support A DOGE 
Breakout Crypto analyst Trader Tardigrade stated that a Dogecoin price 
breakout is expected soon, which will send the meme coin higher. This came as 
he noted that DOGE has been moving between different ranges, experiencing both 
false breakdowns and breakouts. The analyst added that the meme coin has now 
returned to its current range, setting the stage for a price breakout. Related 
Reading: Dogecoin Price Eyes Next Critical Level At $0.18, Is A Break Above 
$0.25 Possible? In another X post, Trader Tardigrade revealed that the 
Dogecoin price is forming a diamond above the trendline at around $0.15. Based 
on this, he affirmed that things are going great for DOGE and urged market 
participants to wait for the next breakout. At the time of writing, the 
Dogecoin price is trading at around $0.17, down over 2% in the last 24 hours, 
according to data from CoinMarketCap. Featured image from Getty Images, chart 
from Tradingview.com

Dogecoin Price Poised For Breakout Amid Accumulation, Here’s The Target

Coinbase is taking its fight for digital privacy to the highest court, urging 
the Supreme Court to dismantle mass surveillance powers threatening the future 
of crypto freedom. Coinbase Asks Supreme Court to Strike Down Digital Dragnet 
in Crypto Crackdown Crypto exchange Coinbase (Nasdaq: COIN) revealed on April 
30 that it had filed an amicus brief […]

Coinbase Fights IRS at Supreme Court Over 500K User Data Demand

**Key takeaways:**
 * XRP ETF approval odds rise to 85% following a SEC leadership change.
 * Analysts predict XRP could rise to new all-time highs again in 2025.
XRP price dropped by 5% over the past 24 hours as US GDP data showed a 
shrinking economy.
However, a strengthening market structure and investors&#8217; growing hope for a 
spot XRP ETF approval in the United States suggest that the altcoin might 
revisit its April peak at $2.36 in the short term.
_XRP/USD daily chart. Source: Cointelegraph/__TradingView_
Technical charts currently show XRP (XRP) trading within a falling wedge 
pattern. A &#8220;falling wedge&#8221; is a bullish reversal chart pattern that comprises 
two converging trend lines that connect lower lows and lower highs. This 
convergence indicates weakening downward momentum.
The pattern will resolve when the price breaks above the upper trendline at 
$2.40, and if this happens, buyers could target $3.74 next, representing a 71% 
increase from the current price.
_XRP/USD daily chart. Source: Cointelegraph/__TradingView_
The relative strength index (RSI) is above the midline, indicating that the 
market conditions still favor the upside.
However, to sustain the ongoing recovery, XRP price has to first hold the 
support at $2.20 and then overcome the resistance between $2.80 and $3.00.
Several analysts remain optimistic about the altcoin&#8217;s ability to rebound to 
all-time highs, with popular trader Dark Defender saying that the ongoing 
correction is part of an Elliott Wave pattern that will eventually see &#8220;XRP 
continue its climb to the top.&#8221;
Fellow trader Allincrypto believes XRP is &#8220;heading to $19.27&#8221; based on a 
breakout from a falling wedge pattern.
&gt; &#8220;Where we are pulling back is textbook perfect, and we had highlighted a 
&gt; falling wedge that was present on XRP that ultimately was just going for a 
&gt; continuation to $19.27.&#8221;
_**Related:**__**What are XRP futures and how to invest in them?**_
## Approval odds for an XRP ETF approval in 2025 rise
Bloomberg senior ETF analysts said that the five spot XRP ETFs, including 
Grayscale, 21Shares, WisdomTree, Bitwise, Canary, and Franklin Templeton, have 
an 85% chance of approval after the change in leadership at the US Securities 
and Exchange Commission (SEC).
This is a significant improvement from their prediction over two months ago 
that set the chances of an XRP approval in 2025 at 65%.
_Source:__Eric Balchunas_
Similarly, the betting odds for an XRP ETF approval by Dec. 31 now stand at 
80% on Polymarket. Over the past week, the probability of approval has swung 
17% in favor of the bullish masses, which was around 63% on April 23.
_XRP ETF approval odds on Polymarket. Source: Polymarket_
Meanwhile, on April 29, the SEC postponed its decision on Franklin Templeton&#8217;s 
spot XRP ETF, setting a new review deadline on June 17.
The approval of these ETFs could unlock institutional capital, amplifying 
demand for the XRP. While approval timelines remain unclear, they would mark a 
step toward mainstream adoption for XRP.
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 traders predict new all-time highs as ETF approval odds rise to 85%

Trading platform Robinhood has still managed to beat Wall Street estimates as 
its first-quarter revenues fell and its crypto trading volume cooled from a 
record high in Q4.
Robinhood&#8217;s Q1 results shared on April 30 show revenues fell 8.6% from the 
previous quarter to $927 million, topping Zacks analyst estimates by 3.16%.
The company&#8217;s crypto revenue plummeted nearly 30% quarter-on-quarter to $252 
million from the firm&#8217;s record-setting Q4 2024. 
The drop could be partly attributed to the Trump administration&#8217;s tariffs, 
which triggered an 18% fall in the crypto market cap over the quarter.
Crypto trading volume on Robinhood also fell 35% over Q1 compared to the 
fourth quarter of 2024, which the firm attributed to a 10% drop in customer 
trades placed and a 27% fall in average notional volume per trade.
Robinhood CEO Vladimir Tenev said on an earnings call that crypto trading 
volumes would continue to fluctuate but the firm is more focused on capturing 
as much market share as possible.
Despite the fall from last quarter, Robinhood&#8217;s crypto revenue rose 100% from 
the same quarter a year ago, while trading volumes jumped 28% over the same 
period.
_Robinhood &#8216;s quarterly revenues by segment since Q1 2023. Source: 
__Robinhood_
The firm also added $500 million to its now $1.5 billion buyback authorization 
program, aimed at boosting shareholder value and confidence in the firm&#8217;s 
financial health. The company has bought back $667 million worth of shares so 
far.
Shares in Robinhood (HOOD) rose 1.51% in after-hours trading on April 30 to 
$49.85 since the firm disclosed its Q1 results, Google Finance data shows.
Tenev said Robinhood&#8217;s $200 million acquisition of Bitstamp crypto exchange is 
still looking likely to receive regulatory approval in the middle of 2025, 
which would enable it to serve institutional investors in the US.
Regulatory pressure also eased for Robinhood in Q1 after the Securities and 
Exchange Commission closed its investigation into the firm&#8217;s crypto business 
on Feb. 21.
## Crypto tokenization remains a key focus for Robinhood
Tenev said Robinhood is still exploring integrating crypto tokenization into 
the company&#8217;s services.
Tokenizing private equities is a &#8220;huge unlock&#8221; for both individuals and 
companies that can solve a lot of problems in secondary market transactions, 
he said.
_**Related:**__**Ripple $4B-$5B bid to purchase Circle rejected &#8212; Report**_
&#8220;I think that will unlock a ton of economic value for the crypto industry in 
the US,&#8221; Tenev said.
The Robinhood CEO previously said crypto tokenization could let investors buy 
tokenized shares in big-name private firms like OpenAI and SpaceX within 
minutes.
&#8220;That&#8217;s been kind of our primary policy objective in Washington when it comes 
to crypto,&#8221; Tenev said.
_**Magazine:**__**ZK-proofs unlock trillions in Bitcoin for DeFi &#8212; BitcoinOS 
and Starknet**_

Robinhood beats Q1 estimates despite revenue, crypto trading dip

**Key points:**
 * Solana held the $140 support level for a week, a first in more than two months, highlighting traders&#8217; growing confidence.
 * SOL futures open interest hit $5.75 billion on April 30, showing strong institutional interest.
 * With rising DEX volumes and a $9.5 billion TVL, SOL could rally to $200 before a potential spot ETF approval on Oct. 10.
Solana&#8217;s native token, SOL (SOL), fell 4% between April 29 and April 30 after 
failing to sustain the $150 level. Despite this short-term decline, traders 
seem more confident as the $140 support remained intact for a whole week, an 
outcome that hadn&#8217;t happened in over two months.
As demand for leveraged SOL positions reached near record highs on April 30, 
traders are now reconsidering the chances of a SOL rally above $200.
_Solana futures aggregate open interest, SOL. Source: CoinGlass_
SOL futures open interest climbed to 40.5 million SOL on April 30, marking a 
5% increase from the previous month and nearing its all-time high. In dollar 
terms, this represents $5.75 billion in futures positions, ranking third in 
the cryptocurrency market and over 50% higher than the demand for XRP 
derivatives. This strong adoption of SOL derivatives points to growing 
institutional interest.
## Data shows increased demand for bearish leveraged SOL positions
Traders often believe that increased demand for SOL futures signals rising 
optimism. However, since longs (buyers) and shorts (sellers) are always 
matched, a rise in open interest does not necessarily indicate a bullish 
outlook. To better understand leverage demand in SOL futures, one can look at 
the funding rate for perpetual contracts.
_ETH perpetual futures 8-hour funding rate. Source: Laevitas.ch_
Currently, the funding rate on SOL perpetual futures is negative, which shows 
more demand for bearish positions. The last period of moderate optimism ended 
on April 25 after a failed attempt to break above $156. The lack of bullish 
leveraged positions may be partly due to the 43% price gain SOL saw in the 
three weeks from April 8 to April 29.
A $200 target for SOL may seem ambitious, but the token was trading near $195 
in mid-February, even after decentralized application volumes had dropped by 
80% from their January peak. While Solana has faced criticism for its heavy 
reliance on memecoins, there is more to the network than just speculation on 
new tokens.
_Total value locked (TVL) on Solana Network, USD. Source: DefiLlama_
Solana ranks second in total value locked (TVL), with $9.5 billion in 
deposits, including liquid staking, collateralized loans, automated yield 
platforms, and synthetic derivatives. Several Solana decentralized 
applications are among the top fee earners, with Meteora collecting $19.1 
million in seven days, followed by Pump-fun with $18.6 million and Juto with 
$14.6 million.
## Solana network dominates volumes on decentralized exchanges
Since April 14, Ethereum&#8217;s average base layer transaction fee has been $0.65 
or less, yet Solana&#8217;s decentralized exchanges have seen nearly 90% higher 
trading volumes. Even when including the entire Ethereum layer-2 ecosystem, 
Solana led the past week with $21.6 billion in decentralized exchange 
activity.
_Decentralized exchange volumes, 7-day market share. Source: DefiLlama_
Positive highlights from the Solana network include an 87% weekly increase in 
Raydium&#8217;s volumes and a 58% rise in Meteora activity. So, even if demand for 
bullish leveraged positions stays flat, SOL&#8217;s price could eventually reflect 
the improved onchain metrics.
_**Related:**__**More than 70 US crypto ETFs await SEC decision this year**_
From a trading perspective, SOL could also benefit from the possible approval 
of a spot Solana ETF in the United States. Analysts believe the final deadline 
for the US Securities and Exchange Commission&#8217;s decision is Oct. 10, with a 
90% chance of approval. Still, SOL might rally above $200 before this event, 
as the network is well-positioned to attract new retail investors.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.