Grayscale recently met with the SEC’s crypto task force, urging for approval to allow Ethereum staking through its ETFs. The company emphasized that $61 million in rewards have been missed due to current regulations. Grayscale is requesting an update to its Form 19b-4 filings for the Grayscale Ethereum Trust ETF (ETHE) and Grayscale Ethereum Mini Trust ETF (ETH). If approved, these changes would enable the company to directly earn staking rewards, optimizing potential returns for investors.
Ripple (XRP) price momentum has stalled below the $3 threshold after a volatile trading this week driven by conflicting market catalysts. While Trump’s proposal to include XRP in a U.S. strategic crypto reserve initially ignited a price rally, macroeconomic headwinds and skepticism from key financial institutions have cut gains in half
XRP Bulls Struggle to Hold Gains Amid Conflicting Catalysts
XRP price grazed the $3 mark on Monday as rallying 40% after Trump included XRP in the Crypto strategic reserver assets last weekend. However, traders digested multiple market-moving developments this week, those gains have been halved.
Trump’s push to establish a cryptocurrency strategic reserve, with XRP included alongside Bitcoin and Ethereum, Solana, and Cardano generated strong initial momentum at the start of the week. Further optimism came from the easing of tariffs imposed on Mexico and Canada, boosting broader market sentiment.
XRP Price Action
However, XRP bulls faced resistance as macroeconomic uncertainties dampened risk appetite. The latest U.S. Non-Farm Payroll (NFP) report revealed rising unemployment, fueling concerns about persistent inflation and a potentially more hawkish Federal Reserve. As a result, profit-taking emerged near the $3 mark, halting the upside breakout and forcing consolidation around $2.40.
The rejection at $3 suggests traders remain wary of overextending bullish positions amid policy uncertainty. Liquidity remains a key factor, with leveraged long positions likely facing liquidations if XRP fails to hold critical support levels.
JPMorgan Director Casts Doubt on Strategic Crypto Reserve Approval for Ripple
At press time on March 8, Ripple price was trading at $2.40, with a market capitalization of approximately $140 billion. Bull traders anticipate that a break above $3 could push XRP’s market cap toward $200 billion, especially if U.S. Treasury actions align with Trump’s strategic reserve proposal.
However, JPMorgan’s latest report has thrown cold water on Ripple’s ambitious valuation target, highlighting significant hurdles in gaining congressional approval for a U.S. strategic crypto reserve. According to Nikolaos Panigirtzoglou, managing director of global market strategy at JPMorgan, the probability of such a reserve materializing remains below 50%.
“We don’t believe an approval of a U.S. strategic crypto reserve is the most likely scenario (assuming congressional approval would be needed). So the chance is less than 50% in our mind. And if a U.S. strategic crypto reserve is eventually approved, it would be difficult to include smaller tokens outside Bitcoin and Ethereum, as the inclusion of such tokens would raise more concerns about risk and volatility”
– Nikolaos Panigirtzoglou, Maanaging director of global market strategy at JPMorgan
The report further noted that similar state-level Bitcoin reserve proposals have recently failed in Montana, North Dakota, South Dakota, and Wyoming due to concerns over volatility and regulatory hurdles.
Skepticsm around approval of Trump’s crypto strategic reserve plan added to the bearish sentiment keeping XRP price below the $2.50 mark on the daily candle. As traders await further clarity, XRP’s technical structure suggests a pivotal battle ahead.
XRP price is showing early signs of bullish exhaustion after failing to hold above $2.60, suggesting a potential retest of lower support levels. The 12-hour chart highlights a clear rejection near $2.99, coinciding with the upper Donchian Channel boundary, signaling strong resistance. Despite the recent breakout, the inability to sustain momentum above this zone raises the likelihood of profit-taking, particularly with the latest 5.84% decline.
XRP Price Forecast
The MACD histogram, while still in positive territory, has begun fading, hinting at waning bullish momentum. The MACD line remains above the signal line, supporting a bullish case, but the narrowing gap suggests that if selling pressure persists, bears could regain control. Key support is forming near $2.47, aligned with the midline of the Donchian Channel. A decisive break below this level would expose $2.39, a critical pivot where bulls must step in to prevent a slide toward $1.95.
Conversely, if XRP price holds above $2.47 and volume picks up, a renewed push toward $2.99 is likely, with $3.20 as the next bullish target. Leverage traders appear active, making sharp wicks and liquidity hunts a key risk in both directions.
Charles Schwab, one of the largest brokerage firms in the United States, is preparing to launch a spot cryptocurrency trading platform within the next year.
This marks a major move by one of the most trusted names in traditional finance and shows that demand for crypto investment options continues to climb.
Charles Schwab Eyes Crypto Expansion
During a recent earnings call, Schwab CEO Rick Wurster said the firm is optimistic about upcoming regulatory changes that could allow it to fully enter crypto trading.
“Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto and our goal is to do that in the next 12 months and we’re on a great path to be able to do that,” Wurster explained.
This move would allow the company to offer direct access to spot crypto trading and place it in direct competition with major players like Coinbase and Binance.
While the company already offers crypto-related products such as Bitcoin futures and crypto ETFs, the addition of direct trading would significantly expand its crypto portfolio. According to the CEO, engagement on these products has grown rapidly in recent months.
Wurster revealed that visits to the firm’s crypto-focused content have surged 400%. Of that traffic, 70% came from users who are not yet customers, showing a growing appetite for digital asset investments.
If these improvements continue, Schwab could debut its spot crypto trading platform before mid-2026. The firm believes its reputation in traditional finance gives it a strategic advantage in expanding into the crypto space.
Meanwhile, Schwab is already dipping its toes into the sector through its role as custodian for Truth.Fi, an upcoming digital investment platform launched by Trump Media and Technology Group. Truth.Fi plans to offer a mix of Bitcoin, separately managed accounts, and other crypto-linked products.
Indeed, Schwab’s potential entry into the sector has drawn attention from other industry leaders. Asset management firm Bitwise CEO Hunter Horsley described the brokerage firm’s move as a milestone in crypto’s transition to mainstream finance.
Rachael Horwitz, Chief Marketing Officer at Haun Ventures, echoed that sentiment and encouraged Schwab to consider crypto-collateralized lending as a future offering.
“Schwab should implement crypto-collateralized lending as part of its banking services next,” Horwitz said.
The U.S. Congress is moving forward with efforts to regulate the cryptocurrency industry, with a particular focus on stablecoins. A new stablecoin bill has been introduced in the House of Representatives, building on previous legislative efforts. This bill aims to provide clearer guidelines on how companies can issue dollar-denominated digital tokens and set the stage for broader crypto oversight.
House Version of Stablecoin Bill Released
The U.S. House of Representatives has moved forward in digital asset regulation efforts after it published its stablecoin bill text to the public. The two congressmen, Bryan Steil and French Hill introduced stablecoin legislation, that dictates rules for digital tokens which bind their value to the U.S. dollar.
Steil who leads the Financial Services Committee crypto panel stated the bill functions to unite stablecoin legislative frameworks between the House and Senate.
The legislation known as the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE Act) follows Congress’ ongoing development of digital asset regulations. According to Hill the bill constitutes part of an extensive program to establish regulatory clarity for cryptocurrency operations. He stated that the bill aims to establish financial regulations which require stablecoin companies to maintain transparency while protecting consumers and the system.
Senate Stablecoin Bill Moves Forward
There has been some progress made on the regulation of stablecoins by the Senate as the bill was moved to the Banking Committee where it enjoyed bipartisan support. This bill has made its way to the Senate floor, awaiting the senate action. Rep.
Representative Tom Emmer, a crypto supporter in Congress, noted that even though the two bills are somewhat similar but have distinct features, such differences are not significant and can be sorted out as the bills progressed through the legislative procedure.
Lawmakers are looking forward to passing the stablecoin laws in the next few weeks especially following US President Donald Trump directive on stablecoin regulation. Emmer remained optimistic that the bill will be finished by August. This momentum is part of a wider effort in Congress to provide more stability in the regulation of cryptocurrencies so that companies and users have better frameworks to follow.
Efforts to Clarify Crypto Asset Regulations
Additionally, Emmer also reintroduced the Securities Clarity Act as another bill targeting how cryptocurrencies fit into the domain of securities.
This bill, sponsored with republican partner Darren Soto, is to clarify legal uncertainty existing in the United States concerning the qualification of digital assets under the securities law. Emmer thus urged for better formalism saying that business requires legal predictability to the effect that they are able to conduct their operations within the legal framework.
Emmer’s actions are in line with other pieces of legislation that have been made to determine how digital assets should be regulated within the U.S. financial system. These steps are regarded as crucial in offering that legal certainty that many cryptocurrencies and blockchain start-ups have claimed to need to enhance business growth and development.
Wyoming and Other States Enter the Stablecoin Market
As federal lawmakers push forward with stablecoin regulations, states are also taking steps to position themselves as leaders in the crypto space. Wyoming, in particular, is moving toward launching its own state-backed stablecoin.
Governor Mark Gordon has announced plans to issue a stablecoin fully backed by U.S. dollar reserves, aiming to provide a fast, low-cost alternative for digital payments.
The state’s move is part of a broader trend, with other companies and states working on their own stablecoin projects. Custodia and Vantage Bank, for example, recently launched the Avit stablecoin, backed by U.S. dollar reserves and based on the Ethereum blockchain. These efforts reflect the growing interest in stablecoins as a way to bridge the gap between traditional financial systems and the emerging digital economy.
