Altcoin
Why Is XRP Price Down 8% Today?
XRP price is once again facing strong selling pressure, crashing more than 8% and moving back to $2.50. The Ripple token fall comes as the XRP Ledger halted blockchain production for nearly an hour on Tuesday. However, Ripple CTO David Schwartz has confirmed that the network has recovered and is almost back to normalcy.
XRP Price Drops Amid XRP Ledger Downtime
On Tuesday, the XRP Ledger faced some downtime for an hour before resuming operations. However, the development was enough to send XRP price down by 8% to its crucial support of $2.50.
With the XRP Ledger halting the block production for an hour, the network activity froze at the ledger height of 93927173. The Ledger has once again resumed normal operations without reporting any loss of transactions or assets.
Ripple CTO David Schwartz acknowledged the development stating: “We don’t know exactly what caused the issue yet”. He further noted that although the consensus was running, the validations were not published which caused the network to drift apart. “Validator operators manually intervened to choose a sane starting point and begin publishing validations from there,” he added.
Ripple Community Celebrates Quick Network Recovery
Commenting on the network recovery, the Ripple CTO referred to the Unique Node List (UNL), a core component of the XRPL consensus mechanism. “Very few UNL operators actually made any changes, as far as I can tell, so it’s possible the network spontaneously recovered. I’m not sure yet,” said Schwartz. Other community members have backed Ripple for this quick recovery. Edo Farina, head of XRP Healthcare, the first healthcare platform built on the XRP Ledger said:
“The $XRP Ledger has been operational for over 110,000 hours since its launch in 2012. With today’s halt, the total downtime where validators failed to agree on transactions reached about 2 hours. That’s 99.999% of efficiency. The MOST efficient blockchain in existence!”
He further clarified that the Ripple network halt wasn’t typically the outcome of network congestion but instead related to the consensus mechanism.
Last week, the XRP Ledger implemented the AMMClawback amendment, a significant upgrade aimed at bolstering the regulatory compliance of its Automated Market Maker (AMM) pools.
Will XRP Price Bounce Back Again?
As of press time, XRP price is down 7.3%, trading at $2.51, with daily trading volumes crashing 41% to $13.11 billion. Furthermore, the Coinglass data shows that XRP futures open interest is down 12.2% to $3.65 billion while the 24-hour liquidations have soared to $21 million.
Earlier this week, Ripple unlocked 500 million XRP amid discussion around XRP reserves. Since the beginning of 2025, XRP has seen strong inflows. Coinshares report shows that the Ripple cryptocurrency has solidified its position as the second-best performing altcoin, recording year-to-date (YTD) inflows of $105 million.
Notably, the digital asset attracted $15 million in inflows just last week, underscoring growing investor interest. Additionally, the push for introducing spot XRP ETF by asset managers Grayscale and Canada’s Purpose Investments has further drawn institutional interest.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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 surged 3% in the last 24 hours moving above its crucial support of $0.165 and setting the stage for a massive breakout for 3x gains ahead. On the other hand, the DOGE whale accumulation could provide an additional boost for the rally ahead.
Dogecoin Price Analysis: Bullish Breakout Potential Emerges
After facing a steep correction of over 70%, Dogecoin (DOGE) is showing signs of a potential breakout. The cryptocurrency is currently forming a tight falling wedge pattern, a classic technical setup often considered bullish.
Adding to the optimism, the daily Relative Strength Index (RSI) indicates a bullish divergence, suggesting the downward momentum could be waning.
Traders are closely watching for a breakout above the wedge’s trendline, which could signal a shift in market sentiment. If confirmed, such a breakout might pave the way for renewed upside momentum with next immediate targets of $0.35 and $0.50.
After facing strong selloff earlier this week, Dogecoin price has reclaimed the crucial $0.16 support level hinting that the bottom is already in for the meme coin. Analysts are hoping for a massive rally to $5 as the whale accumulation surges.
Prominent crypto analyst Ali Martinez reported that the DOGE whales have purchased approximately 1.83 billion DOGE, valued at around $640.5 million, over a two-day period. This surge in whale activity suggests a potential bullish outlook for the meme-based cryptocurrency.
Martinez highlighted that while retail investors have been focusing on newer meme tokens, whales have been quietly increasing their DOGE holdings. Such a massive accumulation could set the stage for notable price movements going ahead.
Key Catalysts for DOGE Ahead
Dogecoin price has been subject to global macro developments and the escalating Trump tariff war over the past few months. However, the markets have started to look beyond it as Bitcoin price is showing strength while consolidating around $82,000 levels.
Furthermore, as per the Coinglass data, the DOGE futures open interest is up 5.62% at $1.50 billion. This shows that traders are turning bullish for the asset class moving ahead.
On April 9, 2025, 21Shares unveiled a strategic partnership with the House of Doge to introduce the Dogecoin Exchange-Traded Product (ETP), trading under the ticker DOGE. Duncan Moir, President of 21Shares, emphasized the significance of the collaboration, stating, “The Dogecoin ETP offers investors the most direct and accessible way to engage with the Dogecoin ecosystem.”
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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.
The US Securities and Exchange Commission (SEC) has dismissed its case against Nova Labs, the firm that owns the Helium Network, deeming that the project’s tokens are not securities. The move comes when Helium’s cryptocurrency (HNT) enjoys robust market performance, trading at around $2.92 with a 7% rise over the past 24 hours.
Nova Labs Pays $200,000 Fine
Nova Labs agreed to pay a $200,000 civil penalty to settle fraud claims without admitting fault, despite celebrating the regulatory victory, according to court filings. The SEC had alleged the company had misled institutional investors in a fundraising round in 2021 and 2022, when it raised $200 million at a valuation of $1 billion.
According to the SEC, Nova Labs exaggerated connections to big companies like Nestle and Salesforce. These were few in number and mostly occurred prior to Helium’s network going live in 2019. This company announcement about the SEC’s dismissal did not mention this financial settlement.
Today marks a major win for Helium and The People’s Network! The SEC has agreed to dismiss its unregistered securities claims with prejudice. Helium Hotspots and the distribution of HNT, MOBILE, and IOT through the Helium Network are not securities. It also means that the SEC… pic.twitter.com/vJSBAFht8T
— Helium🎈 (@helium) April 10, 2025
Landmark Decision Creates Precedent For DePIN Projects
“We can now definitely say that all compatible Helium Hotspots and the distribution of HNT, IOT, and MOBILE tokens on the Helium Network are not securities,” Helium said in an April 10 blog post. The company highlighted that the sale of hardware and token distribution for network expansion doesn’t necessarily qualify them as securities.
HNTUSD trading at $2.93 on the 24-hour chart: TradingView.com
This decision sets a significant precedent for Decentralized Physical Infrastructure Networks (DePIN), eradicating legal uncertainty for projects of the same kind that make use of cryptocurrency incentives to create physical infrastructure. The ruling signals a fundamental shift in regulatory philosophy.
Helium Network Remains In Strong Standing Despite Setbacks
The Helium Network has around 375,000 active hotspots globally. The blockchain network enables users to create and operate WiFi networks offering distributed wireless infrastructure for mobile and Internet of Things (IoT) devices.
Trump Administration Signals Shift In Crypto Regulation
The dismissal of the Helium case adds to what seems to be a string of SEC case dismissals during the Trump administration. The agency has allegedly dropped charges against a number of prominent cryptocurrency businesses such as Coinbase, Binance, and Uniswap since US President Donald Trump was sworn into office in January.
The termination timing coincides with Paul Atkins formally taking the place of Gary Gensler as chairman of the Securities and Exchange Commission following confirmation by the US Senate.
The enforcement action against Nova Labs was first filed in January 2025 and was one of the last enforcement actions started by the SEC under the now-former chairman Gensler before he resigned.
According to reports, Acting Chairman Mark Uyeda and Commissioner Hester Peirce made efforts to dismiss crypto enforcement cases amidst the transition from Gensler’s exit to Atkins’ confirmation.
While regarded as crypto-friendly, Atkins has said he intends to focus on creating a legal framework for digital assets.
Featured image from How To Justice, chart from TradingView
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Crypto analyst Egrag Crypto has predicted that the XRP price could rally to as high as $45 if it mirrors a bullish price movement from the 2017 bull run. The analyst also raised the possibility of the altcoin at least touching $19 if it replicates the 2021 price action.
XRP Price Could Rally To $45 If It Mirrors 2017 Bull Run
In an X post, Egrag Crypto predicted that the XRP price could rally to $45 if it mimics the 2017 cycle. He noted that in 2017, the price found heavy support at the 21 Exponential Moving Average (EMA) and experienced a last blow-off top.
This blow-off top led to a price surge of 2,700%, which the analyst believes could lead to XRP’s rally to $45 if the 2017 bull run repeats itself. Meanwhile, Egrag Crypto predicts the altcoin could at least touch $19 if a similar price movement like the 2021 bull run occurs.
He noted that in 2021, the price breached the 21 and 33 EMA and then pumped in a final leg that marked the cycle’s blow-off top. During this period, XRP surged by 1,050%, which the crypto analyst believes could lead to a rally to $19 if history repeats itself. The analyst added that his target has always been $27 and advised market participants to DCA if necessary.
In the short term, the XRP price looks to be eyeing a rally to $5. A CoinGape market analysis revealed that the Hidden Road acquisition may lead to $10 billion in volume to the XRP Ledger, which could push the altcoin to this target.
Meanwhile, XRP’s on-chain metrics also paint a bullish outlook for the altcoin, with the number of wallet addresses hitting a new all-time high (ATH) recently. This indicates that Ripple’s native crypto is enjoying wider adoption.
Ripple’s Native Crypto Has The Potential To Hit $1,000
Crypto analyst BarriC asserted that the XRP price could hit $1,000, although he admitted that it would “absolutely” take time. He claimed it will take a utility run and mass adoption to drive XRP to this price target.
The analyst added that it would also take a big shift in the financial space for the altcoin to reach this $1,000 level. Essentially, BarriC believes something massive has to happen for XRP to reach this target. However, once they do, he assured that there is no going back.
A CoinGape market analysis also once suggested that the XRP price could reach $1,000 if Michael Saylor swapped his $21 billion BTC for Ripple’s native crypto.
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.
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