Ethereum Price Delays $2,000 Retest But Whales Buy $1.047B ETH in 3 Weeks

With its new solution, American fintech giant Mastercard is deepening its ties in the stablecoin and blockchain ecosystem. As announced on April 28, the firm now has end-to-end capabilities that support stablecoins. This is a complement to its earlier push for the technology, at a time when regulatory push has taken a new leap globally.

The Mastercard Stablecoin Solution

The fintech giant said it is advancing the future of payments through stablecoin acceptance and general capabilities. As the company highlighted, the tokens in this niche are evolving from crypto trading tools to solutions that can bring programmability to payments.

The company revealed its recent partnerships with crypto firms to showcase its plans to support the asset class. These partnerships have given the company an integrated 360-degree approach to ensuring stablecoin adoption by businesses.

First, it spotlighted its partnership with MetaMask, Kraken and other crypto exchanges. These partnerships allow users to enter the industry to earn rewards, pay and spend stable tokens through wallets. 

In addition, it reiterated its partnership with merchants like Nuvei, Circle, Paxos, and OKX to enhance the tokens’ overall functionalities. Mastercard plans to lead crypto innovations continually, believing the current approach can make it a major leap.

The Stablecoin Market Outlook

At the moment, the stable token is seeing a major buzz in both crypto and TradFi cycles. With a current market capitalization of $238,391,157,009, many issuers are positioning to take a lead in the market.

While Tether’s USDT and Circle’s USDC dominates the market, new entrants like Ripple USD (RLUSD) are gaining traction. With more consistent RLUSD volume soaring lately, there is a growing speculation the token can compete with the established rivals in the future.

Tether also provided the first attestation for XAUt earlier in the week. With about 7.7 tonnes of gold backing the stablecoin circulation supply, the firm is pushing for more utility for the token.

Crypto Regulation and Implications for Fintech Giants

The shift toward stable assets matches with the growing buzz for regulation in the United States. From the US Securities and Exchange Commission (SEC), to Federal Reserve Chairman’s policy shift, there is a growing consensus to fasttrack stablecoin regulation.

With an August timeline for stable token regulation, most fintech giants are positioning to take advantage of the shift. With a competitive payment landscape and the push for Real World Asset (RWA) tokenization, other Mastercard rivals may also join the trend.

The industry shift, which stems from President Donald Trump’s administration’s pro-crypto stance, is paving a new path for the broader ecosystem. 

The post Mastercard Unveils New Solution To Power Stablecoin Transactions appeared first on CoinGape.

XRP price faces resistance in its recent uptrend after failing to breach a critical hurdle at the $2.30 resistance level. Despite its sideways movements in recent months, the Ripple community anticipates that XRP token will soar to $100 and outperform the rest of the market. In this article, we explore various reasons why $100 is not a realistic target.

Reasons Why XRP Price at $100 is Unrealistic

One of the reasons why $100 is an unrealistic target for XRP value today is because of the token’s staggering supply of 58 billion tokens. If Ripple surges to $100 with this supply, it will attain a $5.8 trillion market cap that will be three times higher than Bitcoin’s current market cap of $1.8 trillion.

Secondly, for XRP to reach $100, the price would have to surge by more than 4,400% or by 45 times from its current price, which is a rally that could take many years to manifest, if it ever does. Even with the potential Ripple integration with SWIFT, Ripple cannot realistically reach $100 by the end of 2025 or in the next two years by posting a 45x rally.

Meanwhile, Standard Chartered recently released its XRP price forecast, and it did not mention $100 as one of the targets, Instead, it stated that Ripple could surge 6x from its current price and possibly reach $12 in the next three years. This target would give Ripple a market cap of $696 billion, which is more realistic and would make XRP the biggest altcoin if Ethereum continues to underperform.

XRP Technical Analysis

On the daily chart, XRP price faces strong resistance at the PoC line of $2.55, where trading volumes were previously high. If Ripple can overcome this resistance level, it could ignite an uptrend and setup a higher high of $2.55, kickstarting a bullish reversal.

The RSI line is also tipping north after bouncing from 50, which indicates that the ongoing bullish momentum is gaining strength. If the RSI maintains this upwards trajectory, the ensuing rally could push XRP price to $2.94 or $3. Beyond this, Ripple (XRP) may rally towards the all-time high price of $3.40.

Nevertheless, XRP price has been tracking Bitcoin in recent weeks, and if the trend in the broader market weakens and sellers regain control and cause the RSI to drop below 50, Ripple might re-enter a downtrend. If Ripple falls below this support zone, traders should anticipate a retest of the support level of $1.79.

Therefore, considering the high supply of 58 billion XRP tokens, the price getting to $100 is not an achievable goal, because at this price, Ripple would have a $5.8 trillion market cap. However, Standard Chartered believes that XRP can reach $12 in the next three years, while the daily chart shows bullish momentum is growing strong, which might push Ripple past $3.

The post Here’s Why Expecting XRP Price at $100 is Unrealistic appeared first on CoinGape.