Texas Bitcoin Reserve proposal passed a Senate vote with 25 out of 30 votes in favor. It will require another vote in the House of Representatives to reach the Governor and become law, but the progress is very encouraging.

Several other state-level reserve proposals failed due to Republican Party defections. In Texas, however, most Democrats voted in favor. This bill does not trigger mandatory Bitcoin purchases yet, which was a major sticking point with fiscal conservatives.

Texas Could Get a Bitcoin Reserve Soon

Throughout several states in the US, pro-crypto lawmakers are trying to pass small-scale Bitcoin Reserves. Texas’ effort has been a particular point of interest, and the state’s Lieutenant Governor has enthusiastically supported the proposal.

Last week, the Bitcoin Reserve bill in Texas passed through Committee, and today, it succeeded a Senate vote 25-5.

“The Texas Bitcoin Reserve Bill passed the Senate with some Democrat support. (The final vote was 25 – 5, and there are 11 Democrat Senators). If there is similar cross-aisle support in the House, then the bill’s prospects for success are good,” a legislative watchdog claimed on social media.

The effort to pass a Bitcoin Reserve in Texas has been an important piece of crypto regulation for several reasons. Obviously, Texas is a large and economically vital area, with the second-largest GDP of all US states.

Additionally, this effort represents a crucial chance to defeat a losing streak in state-level Reserve bills.

Essentially, these bills would trigger up to $23 billion in Bitcoin purchases nationwide, which thrilled the crypto community. There’s just one problem: the Republican Party values fiscal conservatism.

Montana lawmakers rejected spending tax dollars on Bitcoin, and a wave of other red states followed soon after.

Crucially, however, Texas’ Bitcoin Reserve proposal did not mandate this spending. If the state government wishes to purchase Bitcoin, ideally from the large local mining industry, it can do so.

However, approval at this stage does not inevitably trigger this sort of spending, and now Texas can join states like Utah and Arizona as the leaders in this race.

What’s Next for the BTC Reserve Bill in Texas?

Despite today’s win, the fight for a Texas Bitcoin Reserve is far from over. The bill will now move to the state’s House of Representatives, which has more than five times as many members.

More specifically, the Texas House of Representatives has 89 Republican members and 62 Democrats. In theory, this should be a clear win, as Republicans are largely pro-crypto.

However, this wasn’t the case in Montana, North Dakota, South Dakota, Pennsylvania, and Wyoming, where several Republican members voted against the respective BTC reserve bills.

The Texas bill passed the Senate with near-unanimous support, but it might be more contentious before a larger body. In any event, it’s a win, and the Bitcoin Reserve efforts could use a victory right now.

AI coins remain a key narrative in the market, with several projects showing strong momentum despite broader sector correction. Internet Computer (ICP) has struggled over the past month, but its decentralized infrastructure could become very relevant in the AI space.

Alchemist AI (ALCH) has surged recently, benefiting from growing interest in no-code AI solutions. Story (IP) is one of the most trending AI coins, up 79% in the last 30 days, and it has the potential to reach new all-time highs if market sentiment continues to favor AI-driven projects.

Internet Computer (ICP)

The Internet Computer (ICP) is a decentralized platform that hosts secure, network-resident code and data, allowing developers to build web applications without relying on Big Tech or traditional IT infrastructure.

The platform supports a wide range of use cases, including web3 social media, games, DeFi, multi-chain applications, secure front-ends, ledgers, enterprise solutions, and AI models.

ICP is down more than 13% in the last 30 days, with its market cap now below $3 billion. If the current downtrend continues, ICP could test support at $6, and a break below that level could push it to $5.88, with a stronger selloff leading to $5.62.

On the upside, if momentum shifts and the trend reverses, ICP could test resistance at $6.82, with a breakout potentially sending it to $7.27 and $7.45.

Alchemist AI (ALCH)

Alchemist AI is a no-code development platform that allows users to create software applications using simple descriptions.

Its native coin, ALCH, runs on the Solana blockchain.

ALCH has surged more than 34% in the last 24 hours and over 54% in the past seven days, bringing its market cap to $60 million – its highest level since the end of January. If the uptrend continues, ALCH could test resistance at $0.0748, with a breakout potentially pushing it to $0.116 or even $0.18, its highest level since mid-January.

However, if momentum fades and a downtrend forms, the AI coin could test support at $0.059, with a break below that level potentially leading to $0.045. A stronger selloff could send the price as low as $0.021, marking a possible 70% correction.

Story (IP)

Story has been one of the most trending artificial intelligence coins in recent weeks, gaining 79% in the last 30 days despite the broader crypto market correction and AI coins such as VIRTUAL correcting by 50% in the same period.

Its market cap is now close to $1.3 billion, with daily trading volume around $150 million.

If AI coins regain momentum as they did a few months ago, Story could benefit and test resistance at $6.96 and $7.99, potentially surpassing $8 for the first time and reaching new all-time highs.

However, if momentum fades, Story could lose support at $5.00, with a drop to $3.60 as the next key level. A deeper correction could send the price as low as $2.12, marking a significant retracement from its recent surge.

The XRP price is getting ready to surge to new highs as bulls attempt to hold a critical resistance level. Recently, the cryptocurrency experienced a major breakdown as market downside pressure increased. If it can break above its descending resistance, analysts believe it could bounce back above $3 soon.

XRP Price Set To Skyrocket Above $3

A Pseudonymous TradingView crypto analyst known as “MyCryptoParadise” has outlined XRP’s future price trajectory, predicting a surge toward $3.3 for the popular cryptocurrency. The analyst shared a chart outlining key support and resistance levels while evaluating potential breakout and pullback scenarios.

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In his price chart, the TradingView crypto expert highlighted that XRP is at a critical juncture, with bulls fighting to maintain momentum and hold onto a crucial resistance level after experiencing a sharp pullback from recent highs. XRP had triggered this massive price pump after hitting a major support zone between $2.00 and $1.95 — a level where buyers stepped in aggressively. However, the cryptocurrency failed to maintain its bullish momentum and experienced a pullback. 

Currently, XRP is holding above the critical support zone around $2.3 to $2.2. The TradingView analyst has asserted that XRP bulls must defend this support area to keep the cryptocurrency’s bullish setup active or risk a downturn. 

If buyers can maintain control and keep accumulating tokens around the support zone at $2.3 – $2.2 for the next few hours, the TradingView expert believes that XRP could see a major recovery back to previous highs around the $2.7 – $2.8 resistance zone. 

While the altcoin’s current structure suggests an impending breakout, its descending resistance trendline still poses a potential threat to its upside momentum. Previously, this descending resistance rejected multiple price rallies, acting as a major obstacle to XRP’s price growth. 

For XRP to confirm its bullish setup and initiate a significant breakout, the TradingView crypto analyst has suggested that it must close above the $2.85 level with substantial volume. If the cryptocurrency surpasses $2.85, the next major target could be $3.2 to $3.3 — a level where sellers are likely to step in aggressively. 

Overall, XRP’s fundamentals remain solid and possibly bullish. However, failing to clear the descending resistance could invalidate this setup and potentially lead to another rejection and a drop to new lows. 

Analyst Sets Seemingly Impossible Target For The Altcoin

While other market analysts share conservative price projections for XRP, one expert, known as ‘Steph is Crypto’ on X (formerly Twitter), has set a rather ambitious target for XRP. The analyst believes that XRP is gearing up for an explosive price rally to $30.

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Notably, XRP is currently trading below all-time highs at $2.56, meaning a surge to $30 would require a 1,100% increase in value. Considering the magnitude of this rally, the analyst’s prediction was met with skepticism from community members who suggested that such a scenario was seemingly impossible.

Featured image from Adobe Stock, chart from Tradingview.com