XRP has faced increasing selling pressure as bearish market conditions have pushed the altcoin to a monthly low. Investors looking for a recovery may be disappointed, as the altcoin remains vulnerable to further declines. 

Weak market participation and negative momentum are signaling the potential for additional losses in the near term.  

XRP Investors Are Skeptical

The Price Daily Active Addresses (DAA) Divergence indicator is currently flashing a sell signal. This bearish signal stems from a combination of falling prices and declining investor participation.

With fewer active addresses interacting with the network, buying momentum appears to be weakening, making XRP vulnerable to continued downside movement.  

As the drawdown continues, investors are stepping back, further dampening buying interest. If this trend persists, it could accelerate XRP’s decline. 

XRP’s Relative Strength Index (RSI) has dropped to a three-month low, reinforcing the strong bearish momentum. The RSI, which measures market strength, indicates that selling pressure is intensifying.

If this trend continues, XRP could soon enter the oversold zone, further limiting any chances of an immediate rebound.  

A dip into the oversold territory typically suggests that an asset is undervalued, which can sometimes trigger a price recovery. However, XRP’s historical performance indicates that prolonged bearish conditions could extend losses before any meaningful reversal.

XRP Price Prediction: Bouncing Back Is The Key

XRP is currently trading at $2.37, holding above its critical support level of $2.33. The cryptocurrency has been on a consistent decline since the beginning of the month.

Despite temporary stabilization, bearish indicators suggest that XRP may struggle to recover without a significant shift in market momentum.  

The ongoing downward trend suggests that a further decline is likely. If XRP loses its $2.33 support, the price could drop to $1.94, deepening investor losses. A break below this level would confirm extended bearish control, making recovery even more challenging in the near future.  

However, a bounce off $2.33 could enable XRP price to reclaim the $2.70 resistance. If the altcoin successfully flips this level into support, it would invalidate the bearish outlook.

Such a move could restore investor confidence and open the door for a potential recovery in the coming weeks.

The SEC has postponed its decision on approving options trading for Ethereum exchange-traded funds (ETFs).

The regulator has extended its review period by 60 days, setting April 9 as the new deadline.

SEC Delays Ethereum ETF Options Approval for the Third Time

On February 7, the SEC announced another delay in determining whether Ethereum ETFs can trade options.

This marks the third extension after previous deferrals in September and November 2024. The agency cited that it needs more time to assess the potential impact on the market and gather public input, opening a 21-day window for comments.

“The Commission is extending the time period for approving or disapproving the proposed rule change for an additional 60 days. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the SEC stated.

The delay affects applications from several major firms, including Bitwise, Grayscale, Ethereum Mini Trust, and BlackRock. The SEC emphasized that the extension allows for a more comprehensive review before making a final decision.

This decision follows the regulator’s earlier request for public comments on a proposal by Cboe BZX Exchange Inc., which was submitted on behalf of Fidelity. The proposal seeks approval to list and trade options tied to Fidelity’s spot Ethereum ETF.

Options contracts provide traders with the right—but not the obligation—to buy or sell an asset at a specific price within a set timeframe. These financial instruments play a crucial role in risk management and price speculation.

Analysts believe that the introduction of Ethereum ETF options could accelerate institutional adoption and enhance market efficiency. Notably, a similar regulatory framework already applies to Bitcoin ETFs and commodity-backed assets like gold.

Meanwhile, Bloomberg ETF analyst Eric Balchunas has suggested that while approval seems likely, the delay may be linked to ongoing leadership changes at the SEC.

“SEC punting on spot Ether ETF options. I wouldn’t read too much into it, can’t imagine they don’t get approved eventually, likely waiting until Atkins is confirmed before moving on stuff,” Balchunas stated.

Former Commissioner Paul Atkins, nominated by Donald Trump to replace Gary Gensler, is awaiting Senate confirmation. His appointment is widely viewed as a potential shift toward a more crypto-friendly regulatory approach.

Despite ongoing uncertainty, demand for spot Ethereum ETFs continues to grow. Data from SoSo Value indicates that these funds have experienced five consecutive days of net inflows, pushing total investments beyond $3 billion since their introduction.

The Economic and Financial Crimes Commission (EFCC), a law enforcement agency in Nigeria, busted a major crypto crime ring with hundreds of potential criminals. Among them, 53 individuals have been officially charged.

The police were only able to recover around $200,000 in assets, but they’ve identified nearly $3 million in various other deposits. Given the global spread of the crime, It’s uncertain how much money this operation made in total or where these assets have been laundered.

EFCC Busts Crypto Criminals

According to reports, these scammers ran several different operations, but they all fell under the broad umbrella of crypto crimes. These suspects were arrested with 739 other members last December, and all pled not guilty.

“The Lagos Zonal Directorate of the EFCC, on February 3, 2025, arraigned [53 defendants] before separate Federal High Courts sitting in Ikoyi, Lagos. They were arraigned on separate charges bordering on alleged cybercrimes, cyber-terrorism, impersonation, possession of documents containing false pretenses, and identity theft, among others,” it read.

Last year, Nigeria won international notoriety for being tough on crypto crime, and the EFCC is maintaining that reputation. Specifically, the country arrested two Binance executives for suspicious trading activity, sparking a diplomatic incident with the US. Eventually, it dropped the charges, but only after months of negotiation.

Law enforcement reportedly only seized over $200,000 in assets. This might seem small compared to some of the major scams in today’s crypto market, but the depth of the crime is still under investigation.

For instance, over 500 local SIM cards, mobile phones, laptops, and several cars were seized from the syndicate’s seven-story base in Lagos.

The vast number of resources suggests that the amount of money stolen could potentially be billions. However, given the global spread of the crime, it would be challenging to track all the stolen assets.

The EFCC claimed that these crypto criminals were a very diverse and multinational group. It contained at least 792 members from five or more countries, not counting Nigeria. Over a nine-month period, they deposited $1.5 million in a bank account and sent $2.39 million to two launderers using P2P transactions.

However, there could be dozens or even hundreds of unknown associates whose funds haven’t been traced. The EFCC accused these crypto criminals of activities that “seriously destabilize the economic and social structure” of Nigeria. It’s clear why.

Still, their capture proves an encouraging point. Law enforcement agencies around the world are learning to pursue crypto criminals, and their methods are improving. These groups can’t evade capture forever.