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XRP has experienced significant price movements recently, especially with the massive accumulation by whales. Over the past week, large holders have been quietly stacking up XRP, potentially positioning the altcoin for a significant price boost. 

Their actions, combined with a resilient market, present an optimistic outlook for the altcoin’s future.

XRP Investors Are Betting on Recovery

Whale addresses holding between 100 million and 1 billion XRP have added 1.34 billion XRP worth over $3.26 billion in the past week. While some speculated this accumulation was linked to XRP’s inclusion in the US Crypto Reserve, it appears the whales were primarily buying at low prices. 

This indicates that these large holders anticipate further gains. Despite XRP’s 18% crash on Monday, the whales did not sell, suggesting they are confident in the asset’s long-term potential.

The price DAA Divergence is currently flashing a buy signal for XRP as investors demonstrate resilience amid challenging market conditions. This divergence indicates that, while the broader market has experienced volatility, XRP is showing strength. With more investors holding onto their positions and fewer opting to sell, the sentiment is clearly turning bullish.

As market conditions improve, investors’ buying pressure could continue to push XRP’s price higher. This would support the possibility of a sustained rally backed by both retail and whale participation.

XRP Price is Holding Above Support

XRP is trading at $2.45, holding steady above the critical support level of $2.33. After facing considerable volatility over the weekend, the altcoin managed to stabilize, posting a 37% price increase. This move suggests that XRP could have the momentum needed for further gains if the bullish trend continues.

However, despite the positive signals, XRP still failed to secure $2.70 as support on Sunday, which prevented the altcoin from pushing higher. If XRP can manage to flip $2.70 into support, it could break through the $2.95 resistance, bringing it closer to its previous highs.

If the altcoin fails to breach $2.70, XRP could experience consolidation above $2.33, as seen in previous price action. This could delay the bullish outlook and may prevent any immediate upward movement, resulting in a temporary stagnation until the market provides more clarity.

The post XRP Whales’ $3.2 Billion Accumulation Could Set Price Up For Rally appeared first on BeInCrypto.

Two initiatives to pass a state-level Strategic Bitcoin Reserve have failed in Florida, marking another setback for the nationwide movement. Nonetheless, several other active proposals remain.

Between this failure and Arizona’s recent veto, momentum might be slowing. Utah passed a Bitcoin-centric bill after totally excising Reserve-related language, but there’s been no unambiguous victory anywhere in the US.

Florida’s Bitcoin Reserve Proposals Fail

Since President Trump first committed to the US Strategic Bitcoin Reserve, several state governments have been pushing their own proposals.

One such Reserve bill in Florida unanimously passed through its first Subcommittee vote less than a month ago, building a sense of momentum. However, these bills were withdrawn today, marking a real defeat.

“Both Florida’s Bitcoin Reserve Bills have failed. The legislature adjourned its 2025 session on May 2, without passage of the bills. HB 487 and SB 550 have been ‘indefinitely postponed and withdrawn from consideration,’” claimed a crypto policy watchdog.

Technically, Florida’s Bitcoin Reserve bills accumulated bipartisan support in their first appearance. This is a critically useful tool for passing crypto-friendly regulation, but Florida’s support was fragile.

Their sponsor, Webster Barnaby, faced overwhelming skepticism at the time. Although he convinced them on the day, his words didn’t carry far.

Unfortunately, Florida is not the only state-level Bitcoin Reserve that has faced recent setbacks. Arizona’s state legislature comfortably passed two such bills in late April, but Governor Katie Hobbs vetoed one of them.

The other might stand a better chance of receiving approval, but there’s no definite way to know. The main difference between the two involves funding.

As Florida’s Bitcoin Reserve bills quietly died in committee, it’s difficult to analyze a definite reason for their failure. Many state-level bills have been plagued by concern from fiscal conservatives unwilling to invest tax dollars in cryptocurrency.

This belief certainly has bipartisan buy-in; it’s been a feature of questions in Florida, the veto in Arizona, and other failures nationwide.

There are still a few active proposals, but their future is looking increasingly uncertain. The most hopeful prospect, in Utah, did technically become law, but only after shedding all mention of a Bitcoin Reserve.

Utah passed Bitcoin-friendly regulation, but refused this more ambitious task. If these failures continue, it may blunt momentum nationwide.

The post Florida’s Two Bitcoin Reserve Bills Die in Committee appeared first on BeInCrypto.