Market
200 Million XRP Tokens On The Move, Where Are They Headed?

On-chain transaction data shows the XRP ecosystem recently witnessed an enormous movement of 200 million XRP tokens worth $94.5 million ahead of the periodic unlock from escrow. This transaction was recorded on-chain on June 30 between two unknown wallets, indicating it isn’t an escrow unlock. Although the periodic unlock has already been completed since this transaction, XRP traders and enthusiasts are still fascinated by its enormous nature, prompting a detailed look into the on-chain data.
Breaking Down The 200 Million XRP Transfer
According to on-chain data initially noted by large transaction tracker Whale Alerts, 200 million tokens were transferred from an unknown wallet to another unknown wallet on June 30, 2024. The XRP ecosystem is home to many whale addresses, so large transactions from whales are a common sight. The majority of these involve transactions from unknown addresses and crypto exchanges, and vice versa, indicating periods of whale selloffs and accumulations.
🚨 🚨 🚨 🚨 200,000,000 #XRP (94,554,479 USD) transferred from unknown wallet to unknown wallethttps://t.co/mb8TQ9p3nU
— Whale Alert (@whale_alert) June 30, 2024
The initial transfer was made from address “rP4X2h” to address “rJqiMb.” Interestingly, on-chain data indicates the recipient wallet was activated by Ripple as far back as October 2021 and is one of the wallets used for periodic selloffs and moving tokens between wallets. Similarly, the source wallet was activated in October 2023 by the recipient wallet, which connects both wallet addresses to Ripple.
However, on-chain data indicates that the tokens were not transferred into any crypto exchange. They were left sitting in the recipient’s wallet for around 48 hours before a subsequent transfer of 100 million XRP back to the source address “rP4X2h.” This points to the transaction being only a movement around addresses controlled by Ripple.
Related Reading
At the time of writing, address “rJqiMb” holds 107.2 million tokens worth $51.4 million, and address “rP4X2h” holds 93.6 million XRP tokens worth $44.9 million.
At the time of writing, XRP is trading at $0.48, and Ripple’s July unlock of 1 billion XRP tokens has been completed. The unlock occurred in batches of 400 million XRP, 100 million XRP, and 500 million XRP, respectively.
While big movements such as these used to spark wild speculation among investors, the community has grown accustomed to Ripple’s token management practices. Still, any sizable transaction raises questions about Ripple’s motives and future plans.
Featured image created with Dall.E, chart from Tradingview.com
Market
XRP Price Ready to Run? Bulls Eyes Fresh Gains Amid Bullish Setup

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Market
President Trump Signs First-Ever Crypto Bill into Law

President Donald Trump signed the first-ever crypto-specific bill into law on April 10, 2025. The bill sought to repeal the IRS DeFi Broker Rule enacted under the Biden administration.
Previously, the resolution passed the Senate with a 70-28 vote and the House with a 292-132 margin. This reflected a widespread recognition of the need to protect innovation and privacy in the digital asset space.
Trump Signs Historic Crypto Bill, Ending IRS DeFi Broker Rule
The IRS DeFi Broker Rule mandated that decentralized finance (DeFi) platforms report transaction data to the Internal Revenue Service (IRS). It also suggested creating a new classification for brokers, including certain participants or entities involved in the DeFi sector.
Senator Ted Cruz and Representative Mike Carey introduced the Congressional Review Act of Disapproval (CRA), H.J. Res. 25, which ended this rule. In the latest press release, Representative Carey stressed that the bill marked the first cryptocurrency law passed and the first CRA related to taxes to be enacted.
He argued that the rule now repealed, stifled growth and placed unnecessary burdens on the sector.
“The DeFi Broker Rule needlessly hindered American innovation, infringed on the privacy of everyday Americans, and was set to overwhelm the IRS with an overflow of new filings that it doesn’t have the infrastructure to handle during tax season. By repealing this misguided rule, President Trump and Congress have given the IRS an opportunity to return its focus to the duties and obligations it already owes to American taxpayers instead of creating a new series of bureaucratic hurdles,” he stated.
Industry leaders widely celebrated the move. Bo Hines, the Executive Director of the President’s Council of Advisers on Digital Assets, took to X (formerly Twitter) to underline the positive implications of Trump’s decision on the crypto sector.
“Huge Moment! First crypto legislation ever signed into law. Repealing the IRS’s DeFi broker rule protects innovation and privacy—another big step toward ushering in a golden age for digital assets,” Hines posted.
SEC’s Shift in Strategy Paves the Way for Crypto Growth
Meanwhile, this legislative milestone coincides with a series of positive regulatory developments. On the same day, the SEC’s Division of Corporation Finance released new guidance on securities issuance and registration disclosures in the crypto asset market.
“As part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets, the Division of Corporation Finance is providing its views about the application of certain disclosure requirements under the federal securities laws to offerings and registrations of securities in the crypto asset markets,” the statement read.
The guidance addresses disclosure requirements related to price volatility, technological risks, and legal uncertainties. It also stresses transparency to ensure investors are fully informed about these offerings’ risks, characteristics, and details. This move signals a more structured approach to regulating crypto securities, potentially easing compliance for issuers while protecting investors.
In another significant development, the SEC dismissed unregistered securities charges against Nova Labs, the firm behind the Helium Network. This ruling removed the securities classification from Helium Hotspots and Helium’s tokens (HNT, MOBILE, and IOT) distributed through the network.
“With this chapter finally closed, Helium, DePIN, and crypto can now move forward with full confidence, accelerating real-world adoption and innovation in the industry. Together, we’ll fight for a future where everyone and everything can connect freely—without the barriers of inflated costs or gatekeepers standing in the way,” Helium remarked.
The dismissal reflected a shift in the SEC’s enforcement strategy under new leadership following Gary Gensler’s departure in January 2025. Since a new presidential term began, the SEC has dismissed several lawsuits and investigations into many crypto companies.
Notably, the regulator even dropped its long-standing lawsuit against Ripple last month. BeInCrypto reported that both parties reached a preliminary settlement agreement in their legal dispute. They filed a joint motion to suspend the appeal process.
These developments collectively signal a turning point for cryptocurrency regulation in the US, balancing innovation with investor protection as the industry continues to mature.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ethereum Price Cools Off—Can Bulls Stay in Control or Is Momentum Fading?

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Ethereum price started a fresh increase above the $1,550 zone. ETH is now correcting gains from $1,680 and finding bids near the $1,500 level.
- Ethereum started a decent increase above the $1,550 and $1,600 levels.
- The price is trading below $1,580 and the 100-hourly Simple Moving Average.
- There is a new connecting bearish trend line forming with resistance at $1,550 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh increase if it clears the $1,580 resistance zone.
Ethereum Price Trims Gains
Ethereum price formed a base above $1,400 and started a fresh increase, like Bitcoin. ETH gained pace for a move above the $1,480 and $1,550 resistance levels.
The bulls even pumped the price above the $1,600 zone. A high was formed at $1,687 and the price recently started a downside correction. There was a move below the $1,600 support zone. The price dipped below the 50% Fib retracement level of the upward move from the $1,385 swing low to the $1,687 high.
Ethereum price is now trading below $1,580 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,550 level. There is also a new connecting bearish trend line forming with resistance at $1,550 on the hourly chart of ETH/USD.

The next key resistance is near the $1,580 level. The first major resistance is near the $1,620 level. A clear move above the $1,620 resistance might send the price toward the $1,680 resistance. An upside break above the $1,680 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,750 resistance zone or even $1,800 in the near term.
More Losses In ETH?
If Ethereum fails to clear the $1,580 resistance, it could start a downside correction. Initial support on the downside is near the $1,520 level. The first major support sits near the $1,500 zone and the 61.8% Fib retracement level of the upward move from the $1,385 swing low to the $1,687 high.
A clear move below the $1,500 support might push the price toward the $1,455 support. Any more losses might send the price toward the $1,420 support level in the near term. The next key support sits at $1,380.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $1,500
Major Resistance Level – $1,580
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