Donald Trump Teases ‘Big Announcement’ Amid Potential Trade Agreement With 17 Countries

XRP has been struggling to make any significant upward movement, with its price failing to breach a crucial resistance level. Despite attempts at recovery, the altcoin remains stuck, with no sustainable progress beyond the $2.56 barrier. 

The drastic drop in circulation is worsening the situation, signaling a lack of investor activity and growing market concern.

XRP Loses Interest

The circulation of XRP has seen a sharp decline, with its velocity falling to a five-year low. This metric, which tracks the rate at which XRP is transacted, has not been this low since January 2020. A drop in circulation often reflects investor hesitation, as less movement indicates a lack of confidence in the market. 

This low velocity is a negative sign for XRP, suggesting that holders are not actively moving their assets. It points to a sense of bearishness in the market, as investors are reluctant to trade or engage with the asset. The absence of significant transaction activity further indicates that XRP may struggle to break out of its current rut without a shift in sentiment.

XRP’s macro momentum is not showing signs of strength, with technical indicators reflecting the overall market sentiment. The Chaikin Money Flow (CMF) for XRP has dropped to a four-month low, remaining below the zero line and signaling bearishness. This suggests that investors are unwilling to invest more money in XRP due to the current market conditions.

The CMF being in the negative zone indicates that buying pressure is lacking and that holders are not injecting capital into the asset. This weak investor confidence could continue to hinder XRP’s potential for a rebound, making it more challenging to regain upward momentum in the near future.

Cam XRP Price Bounce Back?

XRP’s price is currently at $2.36, and it is unable to break through the critical $2.56 resistance level. This resistance has been a significant barrier for the altcoin in the past, and it continues to act as a strong point of contention. Until XRP can successfully breach this level, the altcoin is unlikely to sustain any meaningful rally.

Given the current market conditions and declining circulation, XRP is not expected to breach the $2.56 resistance anytime soon. Instead, it could face a drop toward $2.27 or potentially lower to $2.14. This could extend the consolidation phase, erasing some of the recent gains made by the altcoin.

The only way to invalidate this bearish outlook is for XRP to break through and flip the $2.56 resistance into support. If successful, XRP could rise towards $3.00, recovering some of the losses from earlier in the year. However, this would require a significant shift in investor sentiment and broader market conditions to support such a move.

The post XRP Circulation Hits 5-Year Low; Price Fails To Clear Key Barrier appeared first on BeInCrypto.

On March 7, 2025, the White House will host its first-ever Crypto Summit. President Donald Trump will chair the summit, and David Sacks will serve as moderator.

With Trump’s recent moves, many investors are anticipating positive changes. Below are three things that BeInCrypto thinks will be key agenda in the summit.

Progress Toward Regulatory Clarity

For years, regulatory ambiguity has been a headache for cryptocurrency investors. The previous Biden administration took a heavy-handed approach with SEC lawsuits targeting companies in the industry. This was seen as excessively stifling the market, preventing its growth in the US.

Trump’s crypto-friendly stance could change that. The summit might outline a simpler legal framework for digital assets, addressing issues like exchange compliance, DeFi regulations, and stablecoin management.

David Sacks, a supporter of stablecoins strengthening the dollar’s position, could push for policies legitimizing USDC or USDT without stifling innovation.

Evidence of this shift includes the recent dismissal of several SEC lawsuits against Uniswap, Kraken, Coinbase, and other crypto companies.

Most importantly, the Summit will reportedly have a very short guest list, and several major crypto leaders have already been invited. This suggests that the White House wants to engage in direct conversation with these leaders, which could lead to more policy suggestions.

“More attendees are confirming attendance at Friday’s White House Crypto Summit. Confirmations so far from: Michael Saylor, David Bailey, Matt Huang, JP Richardson.” FOX journalist Eleanor Terrett said.

More Details On The US Crypto Reserve

President Trump recently announced plans to establish a strategic reserve with Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). This has already had a positive short-term impact on their prices. As a result, investors holding these coins are particularly interested.

However, the market lacks detailed information about this strategic reserve. Where will the funding come from? Will it use seized assets or existing Treasury authority?

Additionally, the size of the fund and which assets might be added to the list might also be discussed at the White House Crypto Summit.

The Commerce Secretary also says President Trump will unveil the Bitcoin reserve strategy at the Summit. Other crypto assets will be treated positively but differently.

“The President definitely thinks that there’s a Bitcoin strategic reserve. Now there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that.” Secretary Lutnick told The Pavlovic Today. 

At least, for now, this strategic reserve could reinforce the legitimacy of cryptocurrencies, serving as a morale boost for long-term holders.

Crypto Tax Policy

Another potential topic of discussion is likely to be crypto tax reform. For a while now, Trump has been hinting at eliminating capital gains taxes on cryptocurrencies.

Lower taxes would reduce costs and increase profits for individual investors, potentially leading to reinvestment and boosting market activity.

In reality, completely eliminating capital gains taxes is unlikely due to potential opposition from Congress. However, a smaller adjustment, such as extending holding periods to reduce taxes, might be more feasible.

The White House Crypto Summit is taking place amid market uncertainty. The US trade war with other nations is heating up more than ever.

On Monday, Bitcoin dropped to $82,000 before recovering to its current level. Now, BTC retests $90,000 amid speculation of preferential treatment in Trump’s crypto reserve.

If the summit delivers positive news, it could reverse the downward trend. On the contrary, it could prolong the selling pressure, causing the market to continue falling further.

Therefore, investors should prepare for price volatility. This could be a “buy the rumor, sell the news” scenario, so users should avoid over-leveraging before the event. Consider your risk tolerance and investment goals.

The post 3 Things Expect From The White House Crypto Summit appeared first on BeInCrypto.