Ripple is deepening its commitment to Asia’s Web3 ecosystem with the launch of a new grant initiative aimed at promoting innovation in Japan’s blockchain sector. The company announced on a June 9 blog post that it has partnered with Web3…

Ripple to provide grants to Japanese Web3 projects building on the XRP Ledger

Trump’s big, beautiful bill, which proposes a 3.5% tax on remittances sent by 
immigrants to their home countries, has forced Mexico’s president, Claudia 
Sheinbaum, to take a stance against it. Sheinbaum vowed to mobilize against 
this and announced measures to render it ineffective. U.S.-Mexico Remittance 
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Trump’s ‘Big, Beautiful Bill’ Sparks Mexico-US Standoff

Pseudonymous analyst CryptoInsightUK has warned that the next major move for 
XRP could be a trap. In a video published on June 8, the analyst outlined a 
scenario where XRP surges toward $2.30–$2.40 in the short term—only to reverse 
violently into a sharp liquidity flush before any sustainable breakout occurs. 
XRP Bull Trap Looming? “I think XRP goes to sub-$2.0. I really do,” he said, 
adding: “It could come and sweep the highs here… could come up to like what, 
$2.30, and then push us down. That would be more pain for everyone, ‘cause 
everyone’s going to think we’re going to the upside.” The setup he describes 
is based on market structure and liquidity dynamics, particularly the buildup 
of resting orders beneath XRP’s current range. “This here is a concern, a real 
concern for me,” he said, referring to the growing pool of liquidity below 
current prices. According to his internal models, such liquidity zones are 
statistically touched “80% of the time.” Related Reading: XRP Must Crash 
First—Then Comes The $10 Rally, Says Analyst “Someone’s trying to trick 
someone here,” he warned. “I’m cautious.” Despite his near-total XRP 
allocation—he states he&#8217;s “95%+, probably more like 98%” positioned in 
XRP—CryptoInsightUK emphasized that he’s not rooting for a correction. “I 
don’t want it to come down,” he said. “I’m just showing you what I see.” The 
analyst proposed multiple structural paths: one in which XRP immediately 
breaks out, and another where it briefly rallies to sweep local highs before 
flushing downward to form a bullish divergence. “We’re in a range right now,” 
he said. “Do we come up, sweep the highs, then take the lows and go?” He 
elaborated on the bullish divergence pattern he is watching, where price forms 
a lower low while the RSI (Relative Strength Index) prints a higher low—a 
setup he uses to identify bottoming structures. “That’s what I would like to 
see,” he explained. Broader Macro Conditions Still Supportive Despite the 
bearish tactical setup, the video struck an upbeat macro tone. Will cited four 
near-term catalysts: the Genius Act on stablecoin oversight, the imminent 
filing deadline in the SEC’s remedies phase against Ripple, the July decision 
window for a spot-XRP ETF proposal, and a renewed expectation of accommodative 
fiscal policy sparked by last week’s televised Trump-Musk dialogue. “What this 
really tells us is there’s going to be money printing,” he argued. “Assets all 
over are going to explode to the upside and, for the other specific reasons, 
XRP probably does even better.” Turning to Bitcoin, the analyst observed an 
ongoing decline in trading volume, suggesting indecision or exhaustion. 
“There’s been no volume. There’s been nothing,” he said of recent BTC price 
action. Related Reading: XRP Wave Structure Predicts Wild Fluctuations On Its 
Way To $4 ATH He highlighted a CME futures gap around $92,000–$93,000 and 
added that fixed range volume analysis points to a possible pullback zone at 
$96,000–$97,000. “It’s probably coming imminently, maybe this week,” he said 
of a potential correction, projecting a scenario where BTC dips into this 
range before resuming its upward trajectory. “Does this mean we squeeze to the 
upside or come down and take this low and put in that bullish divergence 
structure?” he asked, noting a similar divergence setup at $75,000 earlier 
this year. XRP Spot Activity Raises Red Flags In the final hour before the 
video, XRP had “squeezed up with some volume,” but the analyst urged caution. 
While open interest had risen sharply, funding remained green—suggesting net 
long positioning—and aggregate premium had turned red. “This indicates to me 
that even though there are still some shorts coming in, more longs than shorts 
have entered,” he said. He warned that this imbalance could cause a sharp move 
lower if the market fails to hold current levels. “If we do now come down and 
lose this low, expect a more aggressive, faster move to the downside,” he 
said, pointing to the risk of liquidating leveraged positions. XRP’s relative 
performance against ETH and BTC also came under review. While it had begun 
testing resistance zones, neither the XRP/ETH nor the XRP/BTC charts had 
decisively broken out. “We could still be in this range chopping about,” he 
cautioned. “Could lose strength until we start to see some confirmations to 
the upside.” At press time, XRP traded at $2.23. Featured image created with 
DALL.E, chart from TradingView.com

XRP Bull Trap Incoming? Analyst Sees $2.40 Fakeout Before Painful Crash

The Paris-based crypto company already holds $154 million worth of Bitcoin, 
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Avalon Labs has burned 80 million AVL tokens, permanently removing them from 
circulation in a move that reduces the circulating supply by roughly 44%. 
Announced on X on June 9, the tokens, worth an estimated $16 million, were 
mostly unclaimed…