Closing the four-year legal battle opens a new chapter for XRP mainstream adoption, catalyzed by Ripple Labs’ payment products.
XRP price must hold above the support level of about $2 to invalidate further market correction.
The Donald Trump administration has gradually fulfilled its promises made during the campaign period to the crypto ecosystem. The successful replacement of Gary Gensler with crypto-friendly SEC chair Paul Atkins has helped expedite the closure of several web3-related cases, including against Ripple and Binance exchange.
SEC vs Ripple Case Update
Earlier on Wednesday during the mid-North American trading session, James K Filan, a prominent defense lawyer, released court documents dated April 16 regarding the SEC vs Ripple appeal.
According to the court documents, Circuit Judge José A. Cabrenas granted a joint motion, filed by the U.S. SEC and Ripple to temporarily suspend their appeals amid the case closure.
“The parties jointly move to hold this appeal in abeyance, with the U.S. SEC directed to file a status report within 60 days of this order,” the court order noted.
Meanwhile, Ripple Labs agreed to pay a $50 million fine to settle the longstanding case.
XRP Price Analysis
After closing the first quarter in bearish sentiment, XRP has attempted to regain a bullish outlook in the past few weeks. The large-cap altcoin, with a fully diluted valuation of about $206 billion and a 24-hour average volume of about $3.45 billion, has been forming a potential reversal pattern in the daily timeframe.
The XRP price, against the U.S. dollar, has formed a possible inverse head and shoulders pattern, coupled with a bullish divergence of the daily Relative Strength Index (RSI). As a result, if the XRP price holds above the support level of around $2 and remains above the YTD falling logarithmic trend, a target of between $2.8 and $3 will be achievable.
XRP recently saw a sharp price dip to $2.15, triggering massive liquidations worth $13.9 million in long positions, compared to just $1.49 million in shorts, a nearly 1000% imbalance. This shows that most traders were betting on the price going up. When it didn’t, many positions were wiped out, pushing the price down further.
However, XRP has bounced back to $2.20, a key support level, and some traders believe this was just a shakeout before the next big move. Crypto analyst John Squire agrees and says XRP isn’t dead — it’s just loading.
XRP Has Been Building for Years
XRP isn’t a new token riding the latest hype. It has been in development for over a decade. Ripple, the company behind XRP, has built a global payment network, RippleNet, which is active in over 55 countries. It’s already being used by more than 350 financial institutions, including major names like SBI, Tranglo, and Santander. This isn’t about plans, it’s happening now.
A Win in Court and Legal Clarity Ahead
One of XRP’s biggest moments was its legal battle with the U.S. Securities and Exchange Commission (SEC), which started in December 2020. Ripple scored a partial win in July 2023, and the SEC recently paused its appeal, which could lead to full legal clarity soon. If that happens, XRP could become one of the few major cryptocurrencies fully cleared to work with U.S. banks.
While many call XRP “dead” because of its slow price movement, Squire says this is often when smart investors quietly buy in. Technical indicators show XRP is holding steady with support around $2.00 and a chance to turn bullish if it breaks $2.30. For now, XRP may be quiet, but it might just be getting ready to roar.
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XRP recently saw a sharp price dip to $2.15, triggering massive liquidations worth $13.9 million in long positions, compared to just $1.49 million in shorts, a nearly 1000% imbalance. This shows that most traders were betting on the price going up. When it didn’t, many positions were wiped out, pushing the price down further. However, …
The crypto market had a rather bullish week and a positive 24 hours, as PolitiFi coins noted a surge. Led by the Official Trump token, the PolitiFi market grew by 29% and is collectively worth over $2.80 billion.
BeInCrypto has analyzed two other Political meme coins for investors to watch as they piggyback on TRUMP’s growth.
Official Trump (TRUMP)
Launch Date – January 2025
Total Circulating Supply – 199.99 Million TRUMP
Maximum Supply – 1 Billion TRUMP
Fully Diluted Valuation (FDV) – $12.46 Billion
TRUMP price has surged by 34% over the last 24 hours following the announcement of a Gala Dinner with the US president for the top 220 holders. The top 25 holders will also receive a private White House tour, boosting investor sentiment and driving demand for the token.
Currently trading at $12.40, TRUMP is nearing the resistance of $12.57. If the positive momentum persists, it could flip this resistance into support and continue its rise. A successful breach of $12.57 may lead TRUMP to the next resistance level at $14.53, attracting further investment.
However, if investors decide to sell and lock in profits, TRUMP could experience a decline. If the token fails to hold above the $12.57 resistance, it could drop to $11.44 and potentially fall further to $10.29, invalidating the bullish outlook and erasing recent gains.
ConstitutionDAO (PEOPLE)
Launch Date – December 2021
Total Circulating Supply – 5.06 Billion PEOPLE
Maximum Supply – 5.06 Billion PEOPLE
Fully Diluted Valuation (FDV) – $72.80 Million
PEOPLE price has surged 12% over the last 24 hours, adding to its 40% growth over the week. This rally follows TRUMP’s gains, and PEOPLE is now trading at $0.0144. The recent surge signals a potential continuation of the bullish trend, supported by market optimism.
If the momentum persists, PEOPLE could breach the $0.0152 resistance level. Successfully flipping it into support would propel the meme coin to new heights, targeting $0.0184. This would solidify the recovery and potentially bring further investor interest in the altcoin, boosting its market performance.
However, a pullback is likely if PEOPLE fails to break through $0.0152. Falling below this resistance would send the price back to $0.0128, which could invalidate the bullish outlook. This scenario would erase recent gains, potentially increasing investors’ selling pressure.
Doland Tremp (TREMP)
Launch Date – November 2024
Total Circulating Supply – 99.95 Million TREMP
Maximum Supply – 100 Million TREMP
Fully Diluted Valuation (FDV) – $3.30 Million
TREMP, a meme coin that benefited from TRUMP’s rally, surged by 33% in the past day despite a 14% dip today. The token, often seen as a mockery of Donald Trump, is currently stuck in a volatile market. This fluctuation indicates ongoing investor interest in the meme coin.
If TREMP can hold its current support at $0.0319, the altcoin could bounce back. With the right investor backing, it may push towards $0.0389 in the coming days, furthering its recovery. This would be essential to maintaining bullish sentiment and securing a more sustained rise in the future.
However, if investor confidence falters, the meme coin may struggle. A failure to maintain the $0.0319 support would likely push TREMP down to $0.0290, invalidating the current bullish outlook.
This could lead to further price declines, especially if selling pressure intensifies.
Dogecoin price holds steady above $0.16, showing resilience amid Tesla’s $30B stock decline and broader market volatility this week.
Dogecoin Price Stabilizes as Tesla Loses $30 Billion Amid Trump’s Tariff Shock
Dogecoin (DOGE) has stabilized above the $0.16 level, showing notable resilience despite broader volatility in the crypto and equity markets.
After briefly dipping to $0.12 last Wednesday, following former President Donald Trump’s surprise announcement of sweeping tariffs, DOGE rebounded and currently trades 4% higher from that weekly low.
Dogecoin price action, April 6 | Source: CoinMarketCap
DOGE resilient price performance aligns with a broader trend: top cryptocurrencies increasingly decoupling from the volatility that plagues traditional equities and commodities.
Tesla Takes $30 Billion Hit as Elon Musk Faces Political Pressure
Tesla (TSLA) stock has emerged as one of the most heavily impacted assets in the wake of Trump’s trade announcement. U.S. equities suffered a dramatic selloff, with the Dow Jones Industrial Average plunging over 3,000 points and the S&P 500 falling by 8% within five trading sessions.
As expected, Tesla (TSLA) stock price took a major hit due to Elon Musk’s prominent role in the Trump administration’s newly-formed Department of Government Efficiency.
Tesla (TSLA) stock loses $30B after Trump’s tariff, April 6 2025 | Source: NASDAQ
With the electric vehicle giant thrust into political and economic crossfire, Tesla shares currently trade at $239, down 4% on the week and 10% over the past 30 days.
At a current market cap of $750 billion, over $30 billion in shareholder value has been erased since the tariffs were announced.
Is Dogecoin Price Finally Decoupling from Elon Musk’s Influence?
Against this backdrop, Dogecoin’s stability above $0.15 has raised questions: is DOGE beginning to decouple from Elon Musk’s influence?
1. Musk’s Influence on DOGE Is Fading
Elon Musk, long seen as a de facto mascot for the Dogecoin community, has historically had influence over DOGE price action.
In past years, events such as Tesla’s earnings calls, SpaceX launches, and even cryptic tweets from Musk often triggered short-term rallies in DOGE price.
But recent events suggest a shift in sentiment. In January 2025, DOGE price briefly tested yearly timeframe peaks above $0.40 after Musk’s government office teased a DOGE logo on its official site.
Speculation quickly spread that Dogecoin might be adopted for government-related transactions. However, Musk personally clarified last week that the administration has “no current intention” of adopting DOGE for official use—promptly quashing those rumors.
Another key factor behind Dogecoin’s decoupling from Elon Musk’s influence is Trump’s private crypto interests In March, the administration announced its “Crypto Strategic Reserve,” which conspicuously excluded Dogecoin. The move was seen by many as a sign that DOGE would not receive institutional or governmental support.
Adding to the sentiment, Trump launched his own memecoins—TRUMP and MELANIA—during his inauguration.
These tokens, alongside WLFI, a pro-Trump crypto PAC, have since dominated the altcoin narrative, effectively crowding out Dogecoin from the political meme coin arena.
This exclusionary stance diminishes the likelihood that Dogecoin will receive direct endorsements or adoption from the current administration, despite Musk’s presence within it.
3. Dogecoin Remains Insulated from Tesla’s Trade War Risk
Dogecoin’s price resilience also stems from its insulation from the economic risks now weighing on Tesla.
While Tesla faces serious exposure to retaliatory tariffs from major trade partners like China and Canada—threatening its supply chain and Q2 earnings—Dogecoin operates independently of such traditional business cycles.
The memecoin’s lack of ties to physical goods, manufacturing, or logistics shields it from geopolitical shocks that affect multinational corporations.
As a result, DOGE appears increasingly insulated from Tesla’s financial performance and the broader trade war fallout.
DOGE Price Forecast: $0.15 support cluster must Withstand Short-term Risks
Dogecoin’s stable price action this week, despite Tesla losing $30 billion in market value, signals a maturing market dynamic. Investors are beginning to view DOGE as an asset less exposed to Elon Musk’s influence and more driven by its own market fundamentals.
From a technical standpoint the current Dogecoin price forecast signals lean neutral-to-bearish.
After a brief 5.14% recovery over three sessions the two consecutive red candles that followed now put the immediate support at $0.15 at risk.
Since closing Friday at $0.16, Dogecoin struggles to hold above the 20-day EMA resistance at $0.17. This rejection at the moving average signals insufficient buying pressure to drive the next leg-up.
Dogecoin price
Beyond that, Dogecin trading volumes remains flat at 402.82 million DOGE, showing weak conviction from bulls.
The True Strength Index (TSI) also slipped to -0.82, a clear sign of continued bearish momentum. With TSI below the zero line, a downside continuation is likely if demand doesn’t resurface soon.
If bears push below $0.15, the next downside target lies at $0.142—where DOGE last found support on April 3. On the upside, bulls must reclaim the $0.17 level to target the stronger resistance cluster between at $0.20, near the 50-day EMA.
