Musk&#8217;s endorsement of Bitcoin for his proposed party could accelerate cryptocurrency&#8217;s mainstream acceptance and challenge traditional finance. The post Elon Musk confirms &#8216;America Party&#8217; will embrace Bitcoin because fiat is hopeless appeared first on Crypto Briefing.

Elon Musk confirms ‘America Party’ will embrace Bitcoin because fiat is hopeless

Weekly inflows into the U.S. spot Bitcoin ETFs experienced a significant drop 
last week as fading Fed rate cut hopes and Trump’s newly passed budget bill 
tempered investor appetite. According to data from SoSoValue, the 12 spot 
Bitcoin ETFs recorded…

Bitcoin ETF weekly inflows fall 65%, market cools after $110K BTC rally

China&#8217;s regulatory watchdog has sounded the alarm on scams and fraud tied to 
stablecoins and digital assets, just as public interest starts to pick up. In 
a statement on July 7, 2025, the Shenzhen Municipal Task Force for Preventing 
and…

Chinese authorities warn of stablecoin fraud amid rising local buzz

Twitter co-founder Jack Dorsey has launched the beta version of BitChat, a 
decentralized peer-to-peer messaging app that works without internet access. 
Announced on July 7 via a post on X, BitChat operates over Bluetooth Low 
Energy mesh networks, meaning it…

Twitter co-founder launches beta version of decentralized messaging app Bitchat

The XRP price has been holding on pretty tightly to its support level above 
$2.2 and continues to be a major level of pushback for the bears. This has 
shown that buyers are beginning to make a comeback at this level amid 
predictions that it will be the bounce point for the next rally. Regardless of 
this, a crypto analyst still believes that this support remains at risk as 
bears continue to push down on the price, and the result could be a major 
price crash from here. XRP Price Could Stage A Classic Bear Trap While there 
has been some recovery in the crypto market and, by extension, the XRP price, 
there has not been enough momentum to show that this is a sustained increase. 
This is something that crypto analyst MyCryptoParadise alludes to in their 
latest analysis, warning that it is possible that the digital asset might end 
up seeing a classic bear trap. Related Reading: Bitcoin Must Hold $106,000 And 
$98,000 To Avoid Breakdown The reason behind this is the fact that there have 
been a number of bearish developments on the XRP price chart that suggest that 
the price is likely to go down. For one, a Change of Character toward the more 
bearish side puts sellers in the lead, and this usually signals the start of a 
bearish downturn. Another development that has rocked the altcoin is an 
inverse Cup and Handle pattern that is still in the process of playing out. 
The crypto analyst also explained that these developments, in addition to the 
break below the key support trendline, suggest that a crash is coming for the 
XRP price. From here, bears are already applying pressure that could result in 
a 10% crash. This would push the cryptocurrency back toward the previous 
support, and according to the analyst’s chart, this lies just above the $2 
level. What this means is that a crash from here also puts the altcoin at risk 
of falling below $2, something that would be incredibly bearish and could lead 
to freefall. Wait For Confirmation Before Moving MyCryptoParadise outlined 
that the best way to play this analysis is to wait for confirmation. With the 
bearish thesis, they explain that it is best to wait for the XRP price to see 
a “proper pullback” before they enter the market. This would increase the 
risk-to-reward ratio after the trend direction has been confirmed. Related 
Reading: Pundit Predicts XRP Price Will Surge 35,000% When These Two Things 
Happen However, there is also the possibility that the XRP price does not 
crash from here and that lies at the $2.28 level. The analyst explained that 
if the price is able to cleanly break above this level and make a successful 
close above $2.28, then it would invalidate the bearish thesis and mark a 
continuation of the uptrend. “In such a case, it&#8217;s better to stay patient and 
wait for clearer price action before making any decisions,” the analyst said. 
Featured image from Dall.E, chart from TradingView.com

XRP Price Risks Breakdown To Next Support Level, Why $2.28 Is Important

Ethereum may soon enforce a 16.77 million gas limit on single transactions 
under EIP-7983, proposed by Vitalik Buterin and researcher Toni Wahrstätter to 
improve performance and reduce attack surfaces. According to the July 6 
proposal, Ethereum can “enhance its resilience…