Altcoin
Can XRP Become The Cornerstone OF US Global Financial Policy?
As cryptocurrency regulations become clearer in the US, there are suggestions that XRP could lead the US financial resurgence. The comments from US Treasury Secretary Scott Bessent has given life to the theories for future XRP relevance but the spectre of its long-running case with the SEC looms behind.
RLUSD Will Change The Narrative For XRP
XRP’s community is buzzing with optimism that the asset could play a significant role in America’s ambition to keep the US dollar as the global reserve currency. Pundits are hinging their theories on recent comments by US Treasury Secretary Scott Bessent at the White House Crypto Summit.
Bessent confirmed plans to maintain the US dollar’s supremacy but disclosed a changing stance from fiat. According to Bessent, the US will explore other options including stablecoins to keep the dollar’s dominance as the primary currency for global trade.
“We will keep the US the dominant reserve currency and use stablecoins to do that,” said Bessent.
Right out the bat, XRP’s community is tipping RLUSD, Ripple’s USD-backed stablecoin to lead the new financial renaissance. Optimists say RLUSD has raft of positives to justify its bid to spearhead the US stablecoin ambitions.
RLUSD Surging Growth And Regulatory Compliance Gives It An Edge
RLUSD, live on the XRP Ledger and Ethereum, is recording impressive growth metrics in recent months. At the moment, RLUSD has a market capitalization of $140 million, rising by leaps and bounds.
Adoption rates for RLUSD have reached new highs with a 327% volume growth recorded over the last year. Furthermore, its cross-border payments capabilities puts it in prime position but it will have to stave off competition from Circle’s USDC following a string of regulatory victories the Middle East.
Experts are tagging RLUSD as a regulatory compliant stablecoin in the US, noting that the government’s decision to lean on the stablecoin will be “huge” for XRP. Higher RLUSD adoption will trigger an increased demand for XRP as the bridge asset, sending asset prices to new levels.
OCC Clears The Pathway For Increased Adoption
The Office of the Comptroller of the Currency (OCC) has announced that financial institutions in the US can carry out stablecoin transactions. The OCC, via its Interpretive Letter 1183, confirmed the end of Operation Chokepoint 2.o, allowing banks adopt RLUSD for transactions.
The inclusion of XRP in the Crypto Strategic Reserve and Digital Asset Stockpile signals broader regulatory acceptance for the assets. A masterstroke for XRP will be the dismissal of the Ripple SEC case as whales gobble up large coin volumes.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Argentina’s Chamber of Deputies has passed several resolutions to dig deeper into the scandalous LIBRA cryptocurrency failure, whose possible connections with President Javier Milei are also now being scrutinized.
The Chamber of Deputies voted for a special committee to be created, for summoning government representatives, and for demanding detailed documentation on the collapsed crypto token.
Political Divide Emerges Over Investigation Powers
The establishment of a special commission was approved with 128 votes, 93 against, and seven abstentions, which underlines the political pressures that surround the case.
Lawmakers also authorized a bill to call up senior officials from the executive branch, such as Economy Minister Luis Caputo, Chief of Staff Guillermo Francos, Justice Minister Mariano Cúneo Libarona, and National Securities Commission President Roberto Silva. This resolution passed narrowly with 131 votes supporting and 96 opposing.
Argentina’s Javier Milei faces fraud allegations over the Libra scandal. Image: Natacha Pisarenko/AP Photo
A third resolution requesting detailed information from the Executive Branch about the LIBRA token received 135 votes in favor, 84 against, and 7 abstentions.
According to reports, these measures came in response to growing concerns about whether the cryptocurrency’s downfall harmed Argentina’s financial interests.
Lawmakers Split Along Party Lines
Members of parliament expressed sharply different views during the legislative session. Pablo Juliano from the Democracy Forever bloc emphasized the need for legislative oversight of the situation.
His position stood in stark contrast to Nicolás Mayoraz of President Milei’s La Libertad Avanza party, who warned the commission could overstep judicial authority.
Other lawmakers took middle positions. Oscar Agost Carreño of Encuentro Federal and Karina Banfi from the UCR stressed the legislature’s responsibility to demand political accountability.
Banfi noted that investigations are already happening at both national and international levels. Maximiliano Ferraro from the Civic Coalition argued for the public’s right to transparency in the matter.
Gabriel Bornoroni, the La Libertad Avanza bloc leader, dismissed the opposition’s efforts. He claimed they were simply trying to disrupt government progress, pointing to the fiscal surplus achieved in 2024 and claiming that inflation has been steadily decreasing under the current administration.
Legal Action Targets LIBRA Creator
The political debate follows serious legal challenges against LIBRA token creator Haydone Davis. On March 13, Argentine lawyer Gregorio Dalbon asked Interpol to issue a Red Notice for Davis, whose company Kelsier Ventures launched the LIBRA token in February.
Based on reports, Argentine prosecutors have identified Davis as the main person responsible for the token’s collapse, which caused widespread financial losses.
The scandal has now crossed borders, with Burwick Law, a major cryptocurrency legal firm, filing a lawsuit against Kelsier Ventures and two related platforms: Meteora and KIP Protocol.
The legal action seeks to recover profits and provide compensation for affected investors in the United States.
Featured image from Vox, chart from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Asset manager 21Shares has filed with the US Securities and Exchange Commission (SEC) to offer a Dogecoin ETF. This development comes just as the Dogecoin price rebounds following a wave of sell-offs which saw it drop to as low as $0.14.
21Shares Files For Dogecoin ETF With US SEC
21Shares has filed the S-1 form for its Dogecoin ETF with the US SEC. The asset manager becomes the third to file for a DOGE ETF, joining Grayscale and Bitwise. The next step is for the asset manager, through an exchange, to file the 19b-4 form for this fund, which will officially kickstart the process towards a potential approval from the Commission.
Interestingly, this filing comes on the same day 21Shares launched its Dogecoin ETP on the SIX Swiss Exchange through its partnership with the House of Doge. These two will collaborate again if the SEC approves this ETF, as the asset manager revealed in the prospectus that the House of Doge, the corporate arm of the Dogecoin Foundation, will help in marketing the fund.
Meanwhile, the top crypto exchange, Coinbase, will be the Trust’s custodian. The ETF will hold Dogecoin and provide institutional investors an avenue to gain exposure to the top meme coin.
This undoubtedly provides a bullish outlook for the Dogecoin price, as this move could boost the meme coin’s adoption and further drive inflows into its ecosystem.
DOGE Forms Bullish Divergence
Amid 21Shares’ Dogecoin ETF filing, crypto analyst Kevin Capital has revealed that a daily bullish divergence on DOGE’s chart is starting to play out. He remarked that this development is obviously mostly due to the macro news, but nonetheless, the charts were already hinting at this possibility.
This macro news is Donald Trump’s decision to halt reciprocal tariffs for 90 days. Dogecoin and the broader crypto market rebounded on the back of this news.
However, it remains to be seen if this would be a bullish reversal or a bear trap. As CoinGape reported, crypto analyst Master Kebobi stated that the bottom is in for the top meme coin and predicts that the Dogecoin price would rally to the much-anticipated $1 level in the coming months.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dogecoin price has gained over 10% in the last 24 hours as investors scan the horizons for signals of a long-term rally. While short-term price movement is positive, Dogecoin languishes at 80% below its all-time high but one analyst thinks a rebound is in the offing
Dogecoin Price Can Set A New All-Time High
Dogecoin price has surged by 10.30% over the last day after a shoddy showing over the previous seven days. The sudden resurgence in prices comes amid a slew of macroeconomic uncertainties nevertheless, the surge is stoking enthusiasm that DOGE can set a new all-time high.
Cryptocurrency analyst Master Kenobi revealed on X that the bottom is in for DOGE and a rally is in the offing for the asset. He opines that Dogecoin price will surpass $0.73 in the coming months hinting at a push to $1. The predicted price movement will see DOGE surpass the previous ATH that it set in 2021.
“It’s only upward from here,” said Master Kenobi. “A new ATH for DOGE by early June.”
Despite trading at 80% less than its ATH, Dogecoin’s price has several positives going for it. For starters, a Dogecoin ETP by 21Shares and House of Doge is in the works and could send prices on a strong rally. Furthermore, Dogecoin has weathered reports of Elon Musk leaving DOGE to reach what analysts like Master Kenobi are calling the bottom.
A Bounce Back Will Face A Series Of Bumps
While there is consensus for a Dogecoin price rally, several factors are standing in the way of a bounce back. First, Dogecoin whales have dumped 1.3 billion DOGE sparking worries of concerted sell pressure from heavy hitters.
Furthermore, the DOGE transaction count has taken a major hit, dropping by 94% over the last month. The transaction count decline is stoking fears of a steep plunge in Dogecoin price as demand for the memecoin reaches an all-time low.
Bitcoin’s price crashes continue to have a negative impact on DOGE with top crypto dragging other altcoins underwater. The broader macroeconomic uncertainty is poised to affect cryptocurrency prices with China and the EU announcing retaliatory tariffs against the US. To post a new all-time high, DOGE will have to pick itself gingerly through a minefield of unsavory fundamentals and on-chain data.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Argentina Opens LIBRA Investigation, Top Officials May Be Implicated
Solana (SOL) Drops 4% as Selling Pressure Intensifies
Paul Atkins Confirmed as SEC Chair, Crypto Rules to Ease
US Senate Confirms Pro-Crypto Paul Atkins As SEC Chair
XRP Primed for a Comeback as Key Technical Signal Hints at Explosive Move
MicroStrategy Bitcoin Dump Rumors Circulate After SEC Filing
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Bitcoin20 hours agoHow Trump’s Tariffs Threaten Bitcoin Mining in the US
-
Altcoin19 hours agoShiba Inu Burn Rate Shoots Up 1500%, Can SHIB Price Recover After Bloodbath?
-
Bitcoin24 hours agoBitcoin Crashes Below $75,000 As Asian Stock Markets Bleed
-
Market24 hours agoBerachain Drops 47% in a Month as Bearish Signals Grow
-
Market22 hours agoRFC, FARTCOIN, MOG Lead Gains
-
Ethereum21 hours agoAnalyst Reveals What Could Come Next
-
Bitcoin15 hours agoGoldman Sachs Raises US Recession Odds to 45%
-
Market21 hours agoEthereum Price Hit Hard—10% Drop Sparks Selloff Fears
✓ Share: