XRP has remained in a consolidation phase for the past two weeks, preventing it from establishing a new all-time high (ATH). 

While the altcoin continues to hold above a key support level, it struggles to gain the necessary momentum for a breakout. A shift in investor behavior could change this trajectory.  

XRP Investors Are Facing Losses

XRP’s transaction volume has been largely dominated by losses. As a new ATH remains elusive, investors have begun moving their holdings. This trend has resulted in many XRP holders facing losses on their transactions for the past two weeks, impacting overall market confidence.  

If this pattern continues, traders may begin pulling back from participation, reducing transaction activity. A decline in on-chain engagement could negatively affect XRP’s price, increasing the risk of extended consolidation or a potential drop below key support levels.  

The MVRV Long/Short Difference indicates that long-term holders (LTHs) remain in profit, benefiting from XRP’s recent price action. These investors have yet to move toward selling, demonstrating resilience despite short-term volatility. Their continued holding is critical to maintaining stability.  

If LTHs maintain their positions, XRP’s price is less likely to experience a sharp correction. This behavior signals confidence in the asset’s long-term potential. It also suggests that XRP could sustain its uptrend if market conditions remain favorable.  

XRP Price Prediction: Uptrend To a New High

XRP is currently experiencing a micro uptrend after bouncing off the $2.95 support level. While the altcoin briefly fell below this level during an intraday low, it quickly recovered and remained above the trend line. This reinforced the bullish momentum.  

The cryptocurrency now sits less than 10% away from forming a new ATH beyond $3.40. If the uptrend continues and long-term holders remain steadfast, XRP could break past this resistance and set a new price record in the coming days.  

However, if XRP retests $2.95 and fails to hold this support, the price could decline further. A break below this level would increase bearish pressure. This could potentially push XRP down to $2.73 or lower, invalidating the bullish thesis.  

The Arkansas Senate has rejected Senate Bill 60, which would have prohibited crypto mining facilities within a 30-mile radius of any military facility in the state.

The bill required digital asset mining operations within this zone to cease operations unless they had obtained permits before December 31, 2024.

Arkansas Lawmakers Say No to Crypto Mining Restrictions

Senate Bill 60, titled “To Prohibit a Digital Asset Mining Business from Being Located Within a Thirty-Mile Radius of a Military Facility,” was rejected on Thursday in a 6-1 vote, according to the Arkansas Democrat-Gazette.

Senator Ricky Hill and Representative Brian S. Evans introduced the bill. They argued that while digital asset mining—commonly known as crypto mining—presents economic opportunities, it also carries risks.

“Risks posed by digital asset mining include without limitation threats to national security and the security of the State of Arkansas,” the bill read.

The bill added that these crypto mining risks are heightened when such facilities operate within a thirty-mile radius of military bases in Arkansas.

“This act is immediately necessary in order to ensure the health and safety of the State of Arkansas and its citizens,” the bill asserted.  

Had it passed, the legislation would have required digital asset mining businesses within the designated radius to shut down. This would have applied unless they had obtained permits from the Oil and Gas Commission before December 31, 2024.

Additionally, ongoing construction of mining facilities within these zones would have been required to cease. The bill also granted the Attorney General the authority to investigate potential violations. This included the power to issue subpoenas and collect sworn statements to enforce compliance.

Despite these provisions, the bill failed to gain sufficient support, leaving digital asset mining businesses free to operate without the proposed restrictions.

This development follows Arkansas’ April 2023 “Right to Mine” law. The law protected Bitcoin mining activities in the state by loosening restrictions on commercial crypto mining. Nonetheless, it faced substantial opposition, with critics citing environmental and energy consumption concerns.

Meanwhile, lawmakers in North Dakota have introduced legislation to safeguard the rights of cryptocurrency users and miners. Representative Nathan Toman has put forward a bill designed to protect fundamental Bitcoin-related rights.

Dennis Porter, CEO of the Satoshi Action Fund, confirmed the bill’s introduction via social media platform X (formerly Twitter).

“This bill will protect the: Right-to-Mine – Right Self-Custody – Right to Peer-2-peer Transactions – Right to Run a Node,” Porter stated.

These developments come as interest in crypto grows at the national level. President Donald Trump, now serving his second term, has voiced strong support for the domestic Bitcoin mining industry. He has publicly advocated for all future Bitcoin mining to take place within the US, reinforcing his administration’s pro-crypto stance.