In a much-awaited development that could shake up the digital asset space, a recent filing indicates that ProShares Trust may launch an XRP Exchange-Traded Fund (ETF) on April 30, 2025. While the U.S. Securities and Exchange Commission (SEC) has yet to confirm a final approval, the proposed public offering date is now in black and white, raising hopes—and eyebrows—across the crypto market.
The buzz began when industry sources reported on a U.S. SEC document showing ProShares’ registration statement under the Investment Company Act with an “approximate date of public offering” set for April 30. While not yet a formal green light, this is the clearest signal yet that an XRP ETF is imminent.
XRP Price and Market Sentiment
The XRP price surged on the news, outperforming most altcoins over the weekend. Market analysts say that the ETF speculation aligns with strong technical setups forming across the crypto landscape, particularly falling wedge breakouts, a classic bullish pattern.
The Bigger Picture
While questions remain—such as why only ProShares has surfaced with a proposed launch date, and where BlackRock, Fidelity, and others stand—most experts agree this is a pivotal moment for crypto. If confirmed, XRP would join a select club of U.S.-regulated ETF offerings, a move that could open the floodgates for institutional capital.
The European Stability Mechanism (ESM) has raised concerns that the United States’ growing support for dollar-backed stablecoins could threaten Europe’s financial stability and monetary sovereignty.
These concerns come as stablecoin regulation gains traction in the US. US national banks and federal savings associations can offer services without prior regulatory approval.
EU Warns US Stablecoins Could Threaten Euro Stability
Pierre Gramegna emphasized the urgency of the European Central Bank’s (ECB) digital euro initiative as a countermeasure. As the Managing Director of the ESM, Gramegna urged expedition to preserve the country’s monetary sovereignty and financial stability.
“It could eventually reignite foreign and US tech giant’s plans to launch mass payment solutions based on dollar-denominated stablecoins. And, if this were to be successful, it could affect the euro area’s monetary sovereignty and financial stability,” Gramegna stated at a Eurogroup meeting.
The EU is advancing its digital euro project to safeguard its financial independence. The ECB has long warned that reliance on US-backed stablecoins could weaken the euro.
He echoes recent remarks by ECB official Piero Cipollone during an early February interview. Then, Cipollone indicated that the Trump administration’s support for stablecoins would likely accelerate legislation surrounding the digital euro. Such an outcome, he said, would position it as a necessary alternative.
“The US and Europe have differing views on stablecoins. The Trump administration sees them as a tool to strengthen the US dollar’s global presence, whereas the ECB fears they could destabilize Europe’s financial system,” Cipollone explained.
The ESM supports the ECB’s digital euro project and the European Commission’s efforts to revise the MiCA (Markets in Crypto-Assets) directive. Gramegna emphasized that these measures are critical in preventing a scenario in which European consumers and businesses become overly reliant on US-backed stablecoins.
Federal Reserve Chair Jerome Powell has also advocated for stablecoin regulation to solidify their role in financial markets. Meanwhile, new rules now permit US banks to offer stablecoin services, signaling further integration of stablecoins into traditional finance (TradFi).
These developments could accelerate the dominance of US-backed stablecoins in global transactions. Reports suggest that even Bank of America (BoA) is exploring launching its own stablecoin, while Circle CEO Jeremy Allaire is pushing for mandatory US registration of stablecoin issuers.
The debate over stablecoins mirrors broader geopolitical concerns. The dollar’s dominance in digital payments could grow as US financial institutions integrate stablecoins into their services. This could limit the euro’s influence.
European policymakers advocate for a strong regulatory framework and an accelerated timeline for the digital euro’s rollout to counter this.
Chainlink (LINK) has been showing mixed technical signals recently, with some indicators turning bearish while others suggest a potential upside ahead. With its price up 11% in the last seven days, Chainlink was on its path to surpass Pi Network in market cap, but this could be delayed for now.
With LINK almost not moving in the last 24 hours, its market cap is currently $10.3 billion, and Pi Network is around $12.7 billion. The upcoming days will be crucial as several technical indicators reach critical inflection points that could determine whether LINK continues its rally or faces a correction.
Chainlink DMI Shows Sellers Took Control
According to Chainlink’s DMI chart, its ADX (Average Directional Index) has decreased from 26 yesterday to 20.46 today. This decline indicates weakening trend strength regardless of direction.
ADX is a component of the Directional Movement Index (DMI) that quantifies trend strength on a scale of 0-100, without indicating direction. Generally, readings above 25 suggest a strong trend, 20-25 indicate a developing trend, and below 20 reflect a weak or absent trend.
Chainlink’s ADX moving from above 25 to just above 20 signals that the previous strong trend is losing momentum and shifting toward a more neutral or ranging market.
The Positive Directional Indicator (+DI) has fallen significantly from 33.3 to 20.1, while the Negative Directional Indicator (-DI) has increased from 14.2 to 21. This crossover, with -DI now exceeding +DI, suggests a potential shift from bullish to bearish momentum.
Combined with the weakening ADX, this technical picture points to a likely bearish reversal or continuation pattern forming for LINK’s price. Traders might anticipate further downside pressure in the near term, though they should monitor for stabilization or reversal signals as the trend weakens.
LINK BBTrend Is Now Positive After Staying Negative For Several Days
LINK’s BBTrend has now turned positive, reaching 3.69 after remaining in negative territory since March 4. A significantly negative reading of -20 was recorded on February 28.
The BBTrend (Bollinger Bands Trend) indicator is a momentum oscillator that measures the relationship between price and Bollinger Bands to identify trend strength and direction. It calculates how price is moving relative to the Bollinger Bands, which themselves represent standard deviations from a moving average.
When BBTrend is positive, it suggests prices are moving above the middle band and potentially toward the upper band, indicating bullish momentum.
Conversely, negative readings suggest bearish pressure with prices moving below the middle band toward the lower band. The recent shift to a positive 3.69 BBTrend value for LINK could signal emerging bullish momentum after a period of downward pressure.
This reversal, coming after an extended negative period that bottomed at -20, might indicate a meaningful change in market sentiment.
However, traders should confirm this signal with other indicators, as the relatively modest positive reading of 3.69 suggests the bullish momentum is still developing rather than strongly established.
Will Chainlink Go Back To $20 In March?
LINK EMA (Exponential Moving Average) lines are currently trending downward, potentially forming a death cross in the near future.
If this bearish pattern materializes and Chainlink price breaks below the critical support level at $15.79, we could see further downside movement.
In this scenario, LINK might decline to test psychological and technical support levels at $14 and potentially even $13.45, representing significant drops from current prices.
Conversely, the recent positive shift in BBTrend suggests growing buying pressure may be building. If this bullish momentum continues to strengthen, LINK could challenge the immediate resistance at $17.64.
A decisive break above this level would open the path to test higher resistance zones at $19.79 and, subsequently, $22.31. In a strongly bullish scenario where upward momentum accelerates, Chainlink could potentially reach $26.4, which would mark its first time trading above $25 in over a month.
This technical setup presents a clear inflection point for LINK, with convincing breaks of either the support at $15.79 or resistance at $17.64, likely determining the next significant price movement.
Circle, the company behind the $62 billion USDC stablecoin, has received in-principle approval from Abu Dhabi Global Market’s Financial Services Regulatory Authority. This approval allows Circle to operate as a money services provider in the UAE, marking a major step in its Middle East expansion. The announcement comes shortly after Circle launched a new payments network to grow USDC adoption. Meanwhile, the firm remains in a quiet period following its IPO filing in the United States.
The post Circle Secures UAE Approval to Boost USDC Operations in the Middle East appeared first on Coinpedia Fintech News
Circle, the company behind the $62 billion USDC stablecoin, has received in-principle approval from Abu Dhabi Global Market’s Financial Services Regulatory Authority. This approval allows Circle to operate as a money services provider in the UAE, marking a major step in its Middle East expansion. The announcement comes shortly after Circle launched a new payments …
$XRP ETF APPROVED. https://t.co/JbJ5y39ky1
