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Senate lawmakers are deep in discussions over the GENIUS Act, a bill that’s currently facing a long list of proposed changes. If they succeed, the bill could be brought to the Senate floor by the end of this week. Senate Negotiates Over 60 Amendments to GENIUS Act According to respected journalist Eleanor Terrett on X,
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The post XRP Briefly Overtakes Tether to Become 3rd Largest Cryptocurrency appeared first on Coinpedia Fintech News
XRP made headlines in the crypto market after briefly overtaking Tether to become the third-largest cryptocurrency by market value. The price of XRP climbed back above $2.61 for the first time since March 6th, marking a strong recovery for the digital asset. However, at the time of writing, XRP has slipped back to the fourth position.
At the same time, market experts have noticed a positive change in XRP’s price charts. Over the past few months, XRP’s price was affected by a bearish divergence, which kept its growth limited. But in recent days, this pattern seems to have ended.
The 3-day Relative Strength Index (RSI) for XRP has now moved above its previous levels, suggesting that the coin is gaining strength and could continue moving upwards.
On the daily chart, XRP is trying to break above a key resistance level around $2.45 to $2.46. However, to confirm a breakout, it needs to close a daily candle above this line. If it succeeds and manages to cross above $2.58 to $2.59, it could mean a major bullish trend.
If that happens, XRP might not only rise in the short term but could also continue to perform well over the next few weeks or even months. On its way up, the price could face some hurdles around levels like $2.77, $2.95, $3.15, and $3.30.
$5 In Sight?
Some analysts suggest we may already be in a direct bullish phase, with the price aiming straight toward the $5 mark. Either way, as long as support holds, the focus remains on higher prices. In the short term, XRP may continue to stretch upward, with a new micro target zone set between $2.77 and $2.97. This could mark the next area of interest for traders looking for bullish confirmation.
The post XRP Briefly Overtakes Tether to Become 3rd Largest Cryptocurrency appeared first on Coinpedia Fintech News
XRP made headlines in the crypto market after briefly overtaking Tether to become the third-largest cryptocurrency by market value. The price of XRP climbed back above $2.61 for the first time since March 6th, marking a strong recovery for the digital asset. However, at the time of writing, XRP has slipped back to the fourth …
The surge in companies created to hold crypto assets has probably reached its peak. Galaxy Digital CEO Mike Novogratz warned that future success will depend on strategic positioning rather than simple asset accumulation.
Speaking on Galaxy’s Q2 earnings call Tuesday, Novogratz said the proliferation of crypto treasury companies has likely peaked. “We’ve probably gone through peak treasury company issuance,” he stated. “The question now is which of the existing companies will become monsters.”
Ethereum already has two major treasury holders—Tom Lee’s BitMine and Joe Lubin’s SharpLink—both expected to keep growing. New entrants may “have a harder time getting oxygen,” Novogratz warned.
Galaxy Digital collaborates with over 20 crypto treasury firms, earning management fees for overseeing their digital asset holdings. These partnerships have added roughly $2 billion in assets to Galaxy’s platform, generating what Novogratz called “recurring income that will go on and on.”
The rise of US crypto treasury firms has benefited from improved regulatory conditions. Early adopters followed MicroStrategy’s Bitcoin-heavy approach, while newer entrants have diversified into Ethereum, Solana, and other tokens.
Galaxy recently executed what Novogratz called “a 9-plus-billion-dollar trade” that he believes was “the largest or one of the largest Bitcoin trades in history.” The successful execution demonstrated strong market confidence in Galaxy’s brand and services. July marked Galaxy’s best month on record across all business lines.
Galaxy has filed plans to issue tokenized versions of its GLXY Class A common stock through a prospectus supplement. The filing relates to up to 245 million shares available for resale by existing stockholders. Galaxy’s stock trades on both the Nasdaq and the Toronto Stock Exchange under the symbol “GLXY.”
Galaxy’s Q2 results showed the company added 4,272 Bitcoins during the quarter, bringing total holdings to 17,102 as of June 30. The firm reported net income of $30.7 million, shareholders’ equity of $2.6 billion, and $1.2 billion in cash and stablecoins. Galaxy also completed sales of over 80,000 Bitcoins on behalf of clients and holds $15 million in XRP tokens.
The post Bitcoin-Holding Firms May Have Peaked, Says Galaxy CEO appeared first on BeInCrypto.
XRP price trades at $3.15 today, July 30, with a 0.22% decline. This small drop is a continuation of the coin’s choppy movements. Still, whales are not jumping ship, and they have opened more than $25 million worth of longs ahead of a White House crypto policy report on July 30. XRP Price Forecast as
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