Scott Melker hosted a recent interview featuring Andrew Parish from Arch Public, Eleanor Terrett from Crypto America, and Attorney John Deaton, as they discussed the latest shifts in crypto regulation and market trends. The spotlight was on SEC’s changing stance under new leadership, the approval of Bitcoin ETFs, and the growing institutional interest in crypto.
The Significance Of Hidden Road Acquisition
Deaton views Ripple’s acquisition of HiddenRoad as an important example of how traditional finance is blending with decentralized finance (DeFi).
Ripple recently agreed to acquire Hidden Road, a prime brokerage firm, for $1.25 billion, marking a major move in the digital asset industry. Hidden Road, now approved by FINRA as a U.S. broker-dealer, allowing it to expand into areas like clearing and prime brokerage.
This deal will help Ripple grow its presence in the financial industry and offer more services to big financial players. The deal is expected to close in the coming months, pending regulatory approval.
He points out that institutions and banks, which once saw DeFi as a threat, are now figuring out how to take advantage of it. He also notes that Bitcoin and XRP stayed stable, even with issues like trade wars, thanks to growing institutional support
“There’s always risk, but I just don’t see how you can’t be bullish on several of these big tokens like XRP and BTC,” he said.
They also discussed the rising institutional interest in digital assets, especially Bitcoin. The approval of Bitcoin ETFs was highlighted as a major milestone for crypto’s mainstream adoption. Deaton said that Bitcoin adoption by public companies has tripled, from 30 companies three years ago to 94 now.
The ongoing XRP price consolidation will likely end soon due to two catalysts – the recent spike in active addresses and the DC Blockchain Summit. Could these two events trigger a production of higher lows that push the token to bounce and tag the $3 psychological level?
From a purely technical perspective, XRP price is hovering between the $2.057 to $2.724 range. After a deviation of the range low on March 11, the token has bounced 30% to set up a local top at $2.47. For the trend to remain bullish, Ripple’s XRP needs to produce a higher low above $2.057. Such a development will propel the price to revisit the range high of $2.724.
In a highly bullish case, where Bitcoin price remains above $90K, Ripple’s token could flip the range high resistance level at $2.724 into a support level, advancing to $3. This move would constitute a near 40% rally, assuming XRP price produces a higher low at $2.1571.
XRP/USDT 1-day chart
XRP Active Addresses More Than Triple
As of December 2, 2024, XRP price touched the $2.69 level for the first time in more than five years. This historic level saw Daily Active Addresses (DAA) hit a peak of 165K. Since then, the on-chain metric remained relatively lower, showing a waning of investors’ interest. However, the DAA more than tripled and hit 530K on March 2. This sudden uptick notes that investors are interested in XRP at the current price levels.
XRP Daily Active Addresses Triples
Since the DAA spike has been sustained for the past two weeks, it indicates that XRP holders are anticipating something huge in the upcoming days.
This is where the DC Blockchain Summit fits in, where multiple well-known crypto personalities and US government officials are gathered to discuss cryptocurrency.
Meanwhile, Chainlink’s Sergey Nazarov is set to host a pivotal discussion with Bo Hines, who is the executive director of the President’s Council of Advisers on Digital Assets and all things crypto.
Considering that Ripple is a US-based company, the DC Blockchain Summit could reveal Ripple and other key cryptocurrencies and blockchain’s role in furthering America as crypto capital. Hence, the chances of XRP price rallying to $3 and beyond due to these catalysts are high.
Bitcoin price action has recently sent shockwaves across the broader market with its volatility, flagging a potential bull cycle end. Notably, CryptoQuant CEO on Tuesday said that the “BTC bull cycle is over,” triggering market concerns globally. Nevertheless, the latest market statistics, such as rising stablecoin inflows, broader advancements, and bullish price chart formations, conversely signal that a rally lies ahead.
CryptoQuant CEO Says Bitcoin Bull Cycle Is Over, Is It True?
BTC price lost nearly 1% value and exchanged hands at $83,179 as of press time. The coin mainly stagnated around the $80K-$85K price level over the past week.
In an X post on March 18, CryptoQuant CEO Ki Young Ju conveyed that he believes the flagship coin’s bull cycle is over. Besides, Young anticipates 6-12 months of a bearish or sideways trading session for the crypto ahead.
The CEO says, “Every on-chain metric signals a bear market.” Notably, this comment stems from the CEO’s observations of fresh liquidity drying up and new whales selling at lower prices.
Additionally, the bull cycle end warning is in sync with PCA (Principal Component Analysis), a metric to analyze on-chain aspects. Young reveals that after analyzing aspects like MVRV, SOPR, and NUPL to compute a 365-day moving average, the signal identifies an inflection point, a.k.a trend reversal ahead.
Source Ki Young Ju, X
Although these market dynamics triggered market concerns of a Bitcoin correction/consolidation ahead, other developments conversely stirred up the crypto market.
Stablecoin Inflow Surge Sparks Optimism
According to an X post by Matrixport on March 18, stablecoin inflows continue to surge despite the recent market turmoil. Both Tether (USDT) and Circle (USDC) witness constant inflows, conversely bringing more liquidity to the market.
Source: Matrixport, X
Reportedly, the stablecoin growth recorded in Q4 last year has moderated, although the uptrend still persists. Fresh capital continues to flow into the crypto market despite a turbulent action amid macro heat, signaling renewed investor sentiment.
This saga, in turn, sparked bullish sentiments as Bitcoin demand could also rise ahead.
Metaplanet Continues Buying Spree
Simultaneously, Japan’s Metaplanet’s acquisition plans continue to underscore a burgeoning institutional interest in the flagship asset. The Japanese public company acquired 150 BTC worth $12.5 million on March 18 as a part of its treasury operations.
Source: Metaplanet, X
The constant buying is a solid confidence booster for market participants, indicating an institutional shift towards the crypto asset class. CoinGape reported that the Singapore Exchange (SGX) is also eyeing the launch of Bitcoin futures contracts amid rising adoption in the Asian landscape.
Meanwhile, even Michael Saylor’s Strategy bought 130 coins for $10.7 million recently. Altogether, these broader developments signaled that a price rally is possible when looking at long-term prospects.
Price Rally Awaits?
Crypto analyst ‘Stockmoney Lizards’ posted on X this Tuesday, stating that BTC is in a corrective channel, characterized by lower highs and lower lows. However, this bearish momentum is waning, per the analyst. The current price chart formation shows a bullish divergence in the daily time frame.
For context, bullish divergence signals a reversal in a downtrend, suggesting that price gains loom. However, the analyst also revealed that a potential dip to mid-low 70s is anticipated. Nevertheless, <80k remains as a string accumulation zone for many.
Source: Stockmoney Lizards, X
In conclusion, the Bitcoin bull cycle may not be over long-term, although short-term volatility may be expected amid broader trends.
Coinbase exchange’s Chief Legal Officer (CLO), Paul Grewal, has called attention to the role of blockchain transparency in helping law enforcement trace stolen funds and respond to the growing form of street-level crime. This update becomes necessary as digital crimes have taken a sharp turn recently, with criminals now targeting mobile devices instead of cash or cards.
Coinbase and Efforts to Fight Street Crime
In a detailed report, the Coinbase CLO shared how street crimes have taken a different turn. Criminals now target mobile phones instead of wallets or cards. By stealing unlocked phones, they gain quick access to victims’ financial apps, including banking, payment services, and crypto-wallets. Paul Grewal noted that these crimes are no longer rare or futuristic. They are already happening in cities across the world.
According to the update, the crypto exchange has worked closely with law enforcement to investigate such cases. Once a criminal accesses a phone, funds can be moved within minutes.
However, crypto leaves a visible record, unlike cash, which disappears without a trace. Every transaction is recorded publicly on the blockchain, allowing Coinbase to trace stolen funds, report patterns, and help identify those responsible.
Paul Grewal also stressed that Coinbase is not acting in isolation. Other major exchanges, including Binance, are actively improving their systems. Binance, for instance, has introduced stronger verification checks and is collaborating more closely with enforcement agencies. These efforts reflect a growing understanding that the crypto space must fight crime proactively.
Beyond Coinbase, Crypto Exchanges Follow The Trend
While Coinbase focuses on tracing and investigations, other exchanges are strengthening their security structures.
Bybit recently partnered with Zodia Custody to safeguard its institutional clients from scams. Reports noted that their new arrangement keeps funds separate from the main exchange but still available for trading.
This method reduces internal risks and protects investors from failures or misuse within the exchange.
Binance has taken similar steps to improve security and compliance. The exchange has boosted its know-your-customer process and increased cooperation with law enforcement worldwide.
Crypto Crime Evolution
It is important to stress that digital theft is evolving quickly. For example, a stolen phone now grants criminals full access to someone’s financial life. It gets more complicated as criminals no longer need stolen cards.
This is because they can empty a person’s bank account, transfer crypto, and even change passwords.
Still, the transparency of the blockchain is proving to be a useful defence. Every move is recorded and traceable. For context, this was how some of the funds were traceable when Bybit suffered a hack worth $1.4 billion in February.
In addition, with stronger partnerships and tighter controls, the crypto industry is beginning to turn the tide on crime, using the tools built into the system to protect users and uphold trust.
