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Cathie Wood, CEO of ARK Invest, has expressed confidence that a new directive from the U.S. Federal Housing Finance Agency (FHFA) could have a major impact on Bitcoin. The move, which aims to incorporate cryptocurrency holdings like Bitcoin into the mortgage qualification process, may help crypto holders access home loans without needing to convert their
The post Cathie Wood Predicts FHFA Mortgage Rule Could Boost Bitcoin “Significantly” appeared first on CoinGape.
Ripple is increasing the size of its investments in cryptocurrency custody, but legal expert John Deaton says the stablecoin issuer is playing the long game. John Deaton says the change in direction will see Ripple offer tokenization-as-a-service to global financial institutions, potentially improving the XRP price.
According to an X post by crypto lawyer John Deaton, Ripple Labs is pitching its addition of custodial offerings to its range of payment services. Deaton says that a bird’s eye view of Ripple’s plays will reveal the bigger picture for the stablecoin issuer.
For Deaton, Ripple’s Hidden Road broker deal is the clearest signal for the company’s foray into custodial services. Ripple has previously acquired Metaco and Standard Custody in 2023 and 2024, splurging billions on the acquisitions.
John Deaton notes that the primary reason for the pivot to custodial service is a play to position Ripple as an all-in-one hub for financial institutions embracing distributed ledger technology.
“By offering custody alongside payments and stablecoin solutions, Ripple becomes a one-stop shop for financial institutions integrating blockchain technology,” said Deaton.
Deaton notes that the aggressive push toward custody services is an attempt to “make up for lost time” following its long-running SEC case. The crypto lawyer surmises that Ripple is keen on snatching a chunk of the market share amid projections of the custody market capitalization tipped to reach 16 trillion in market share by 2030.
According to John Deaton, Ripple is positioning itself to advance toward providing tokenization-as-a-service to banks. Ripple will achieve this by leveraging its growing custody infrastructure to provide a seamless window for financial institutions to tokenize traditional assets.
John Deaton says the future offerings will allow financial sector players to tokenize stocks and real estate from a single platform. The end game will see the XRP Ledger evolve to be the hub for tokenized assets, with the RLUSD stablecoin playing a significant role.
The tokenization use case will improve the stablecoin adoption, with a CoinGape article predicting XRP’s price if RLUSD captures 80% of USDT’s market share. Deaton says Ripple is increasing its activity levels to put significant distance between itself and its closest competitor.
“Looks to me that Brad Garlinghouse is making up for lost time after being slowed down by the SEC lawsuit,” said Deaton.
Ripple is facing increasing competition from Circle’s Payment Network launch, designed to offer real-time payments. At the moment, XRP price is trading at $2.30, gaining nearly 7% over the last day.
The post John Deaton Explains Why Ripple Is Expanding Its Custody Infrastructure appeared first on CoinGape.
The post Eric Trump Denies Family Involvement of an Alleged Trump Wallet By Magic Eden (ME) appeared first on Coinpedia Fintech News
Magic Eden (ME), an established Solana (SOL)-based NFT marketplace, announced on Tuesday, during the mid-North American session, that it intends to launch a crypto wallet for Trump fans. According to an X post, Magic Eden announced that crypto enthusiasts can join the free waitlist for a chance to win a share of $1 million in $TRUMP.
According to the official website for the trumpwallet powered by Magic Eden, the project partnered with the Official Trump memecoin, which is backed by U.S. President Donald Trump.
“Yes! This is the Official $TRUMP Wallet by President Trump. Magic Eden partnered with GetTrumpMemes.com to create the first and only $TRUMP Wallet. Have Fun,” the FAQ noted.
As soon as the news for the Trumpwallet launch hit major headlines, Eric Trump, the Executive Vice President of the Trump Organization, announced that he knew nothing about such a partnership with Magic Eden.
The announcement created more confusion among the crypto community, with some accusing Magic Eden of orchestrating a large-scale scam.
Following the announcement, Magic Eden’s native token rallied over 28 percent to reach a daily local high of about $1.15. However, the ME’s rally was short-lived as the token retraced towards $1 at the time of this writing, following the denial announcement by Eric Trump.
The demand for ME tokens, nonetheless, experienced a sharp uptick as shown by its daily average trading volume, which hovered about $192 million compared to its market cap of around $154 million.
The post Eric Trump Denies Family Involvement of an Alleged Trump Wallet By Magic Eden (ME) appeared first on Coinpedia Fintech News
Magic Eden (ME), an established Solana (SOL)-based NFT marketplace, announced on Tuesday, during the mid-North American session, that it intends to launch a crypto wallet for Trump fans. According to an X post, Magic Eden announced that crypto enthusiasts can join the free waitlist for a chance to win a share of $1 million in …
XRP price is stuck within a narrow consolidation range, but an explosive rally might be brewing after whales purchased 200M Ripple tokens in the last five days. The purchase comes after a recent report disclosed that 23% of US investors hold Ripple, signalling high market confidence despite regulatory uncertainty from the SEC lawsuit.
XRP trades at $2.20 today, May 3, but with 71% of bullish Binance traders, how high with this altcoin rally go, and are large purchases and adoption enough to see it outperform the broader crypto market? Let’s find out.
The price of XRP is at a pivotal point after a recent report revealed that 23% of US crypto investors have invested in Ripple. Meanwhile, this altcoin has a 67% awareness rate, suggesting that its popularity is notably high. According to the National Cryptocurrency Association, XRP is the 6th most popular crypto in the US.
This data indicates that despite the SEC vs. Ripple lawsuit not being formally closed, investor confidence in the blockchain and its native token remains notably high. Hence, once the SEC releases an official statement on the settlement, 67% of US traders who are aware of Ripple may flock to the altcoin, and spark a massive price gain.
Meanwhile, whale activity hints that large investors are leaning towards a bullish XRP price prediction in May after acquiring a staggering 200M tokens this week alone. Per Santiment data, those holding between 10M and 100M Ripple tokens have increased their holdings from 7.59 billion to 7.79 billion
The high rate of adoption by US investors and the whale accumulation are bullish indicators and may lead to an explosive rally for the XRP price. Moreover, the technical outlook supports this positive narrative as the altcoin eyes fresh all-time highs.
Popular analyst VipRoseTr has shared a bullish forecast on XRP price, stating that it is nearing a breakout cycle. In her analysis, she noted that this altcoin was entering a long-awaited breakout from resistance that may spark a 2x surge in market capitalisation.
The analyst identified a descending trendline on Ripple’s weekly chart, noting that with the recent formation of higher highs, this altcoin was on the verge of breaking past a major resistance hurdle. If this breakout occurs at $2.58, XRP will form the next bullish leg that will push it to as high as $3.87.
Considering this bullish XRP price analysis and the recent whale acquisitions, the altcoin has the potential to make explosive gains. However, such gains will depend on the rate at which new traders acquire Ripple, as statistics reveal that it lags behind Ethereum, Solana and Dogecoin in terms of acquisitions in the US.
The post Will XRP Price Explode? 23% of US Investors Back Ripple as Whales Scoop 200M Tokens appeared first on CoinGape.