Ethereum price has also seen a correction, but still demonstrates strong performance on longer timeframes. Several analysts are still optimistic about ETH’s future and indicate that the recent drop could provide a buying opportunity prior to a possible rise to $4,000. Analysts are bullish on the Ethereum price Despite the recent market correction, leading crypto analysts like Michaël van de Poppe have optimistic expectations for the Ethereum price. Price targets also suggest a potential rally to $4,000. The ETH price performance is still positive, with 57.2% returns in the past month. $ETH goes towards the ‘buy the dip’ range. Sub $2,400 is the area where you’d want to accumulate before the next run towards $4,000. pic.twitter.com/y56cKttUHY — Michaël van de Poppe (@CryptoMichNL) May 19, 2025 Analyst Michaël van de Poppe noted what he calls a “buy the dip” region. He indicated that prices below $2,400 provide an accumulation opportunity “before… Read More at Coingape.com
XRP is rallying after the SEC officially dropped its lawsuit against Ripple, triggering a 13% price surge in the past 24 hours. Strong technical signals and growing market participation are supporting the bullish momentum.
XRP’s network activity is also hitting record levels, with active addresses soaring to new highs. As traders digest the legal victory and positive market signals, XRP’s outlook is strengthening, increasing the chances of further upside in the near term.
XRP DMI Shows Buyers Are In Full Control
XRP’s DMI chart reveals a notable shift in momentum, with its ADX (Average Directional Index) rising to 20.4 from 15.64 following the news that the SEC is dropping its lawsuit against Ripple.
This increase signals a strengthening market trend, as the ADX tracks the overall strength of a trend without specifying its direction.
The recent surge suggests that the price action is gaining conviction, especially as the market digests the positive legal developments surrounding Ripple.
In XRP’s case, the +DI has jumped from 18.3 to 39, while the -DI has dropped from 19.63 to 12.97, indicating a clear bullish divergence.
This sharp rise in buying strength (+DI) combined with a weakening bearish signal (-DI) supports the idea that XRP is attempting to maintain and possibly extend its uptrend. If this dynamic continues, it could see further upside in the short term as bullish momentum builds.
XRP Active Addresses Are Reaching New Records
XRP’s network activity has been surging, with the number of 7-day Active Addresses reaching an all-time high of 1.19 million. This is a massive increase from the 237,000 recorded on February 27, marking an almost fivefold rise in just a few weeks.
Tracking the number of active addresses is crucial as it offers insight into the level of user engagement and real demand on the blockchain.
Generally, an increase in active addresses can suggest that more participants are transacting or interacting with the network, which often correlates with stronger liquidity and potentially higher price volatility. In XRP’s case, this record-breaking surge in activity could act as a bullish signal, hinting at growing interest and possibly renewed capital inflows.
While it doesn’t guarantee immediate price appreciation, such strong network participation could help support XRP’s price and reduce downside risk, especially if coupled with other bullish technical or fundamental factors.
Can XRP Reach $3 Soon?
Its EMA lines are currently pointing to a potential new golden cross forming soon.
Should this scenario unfold, XRP price may first challenge the resistance at $2.648. If buying momentum strengthens further, the price might push toward $2.99, potentially breaking above the barrier at $3.
In this case, the key support level at $2.47 would become clear. A breakdown below this threshold could expose XRP to further downside risk, testing $2.21 and possibly driving it down to as low as $1.90.
The American State of Missouri is set to implement a crypto tax rule that will positively impact Bitcoin (BTC), Ethereum (ETH), XRP, and other top-risk assets. This unique move will also impact stocks as the State seeks to become one of the most friendly places for crypto firms to do business. Notably, it comes when many states consider holding Bitcoin as a strategic reserve asset.
Crypto Tax: Missouri Sets New Pace for Bitcoin
As reported by Fortune, it is worth noting that the State’s lawmakers have passed the Bill to enshrine this exemption. It has now been sent to Governor Mike Kehoe for final approval. This Bitcoin tax Bill secured only Republican support despite 10 Democrats voting “Present” at plenary this past Wednesday.
If signed into law, an estimated $430 million will be cut from State revenue as the law takes effect this year. The primary concern for Democrats is the shortfall in State funding, which will affect the budget. On the positive side, investors will benefit from the crypto tax allowance as they can hold their assets for much longer.
Many States in America are exploring ways to gain the upper hand in adopting digital currencies. Earlier this week, New Hampshire adopted BTC as a reserve asset after Governor Ayotte signed Bill HB 302 into law.
Under this provision, 5% of the State’s treasury funds can be invested in Bitcoin. Notably, any asset with a market capitalization above $500 billion may also benefit.
Crypto Gaining Traction In the US
The digital currency ecosystem is gaining significant traction, fueling the favorable consideration of Bitcoin and crypto tax laws. While states are championing new Bills to drive Bitcoin and crypto adoption, the focus is on regulation in DC.
Despite announcing a strategic crypto reserve, much has not been said in this regard. What is visible to the industry is the pivot by national regulatory agencies toward the nascent asset class. Although the Internal Revenue Service (IRS) has not given new guidance on Bitcoin and crypto tax, the OCC and Federal Reserve have withdrawn guidance restricting banks from engaging in digital currency activities.
This makes the Missouri Bitcoin tax move a strategic one. While the exemption might benefit investors in the short term, it may also attract new crypto companies to the state. This will ultimately position the State to benefit in other key areas in the long term.
With this pioneering move, other States may follow Missouri in the quest to become a Bitcoin tax haven.
