XRP has been seeing a nice price push lately and at the time of writing, it is up by more than 3%. Trading at $2.43, there are a few reasons why XRP is rallying. .
One of the biggest factors is a new bill being discussed in Missouri called House Bill 594. If it passes, it would let people in the state deduct all capital gains taxes from profits made on things like Bitcoin and XRP. That means if someone makes money trading these, they won’t have to pay taxes on those profits — and that’s huge news for crypto investors in the U.S.
XRP Adoption Continues to Rise in 2025
Another reason is that more people are holding XRP than ever before. So far in 2025, the number of XRP holders has gone up by 11%, showing growing interest in the coin.
On top of that, XRP is now being accepted as a payment method on the travel booking site Travala.com. That means people can use XRP to book hotels and flights, giving it more real-world use.
The Ripple team is also making progress on the technology side. XRP is being integrated with Cosmos and building something called EVM sidechains, which basically makes it easier for different blockchains to connect and work together.
Plus, Ripple’s custody service now supports a new system for safer storage called shared MPC wallets. They’re also doing well in the tokenization space — that’s where real-world assets like property or stocks are turned into digital tokens on the XRP Ledger.
Lastly, on the price prediction side, analyst Ali Charts said that if XRP can break out of its current chart pattern, it might jump as high as $15. Right now, technical indicators like RSI and stochastic RSI are showing bullish signals, hinting that a breakout could be coming soon.
XRP lawyer Bill Morgan anticipates that Judge Analisa Torres will likely approve the joint motion filed by Ripple and the SEC in the XRP lawsuit. Despite some reservations about the motion’s content, Morgan expressed that he believes the judge will grant it nonetheless, potentially leading to a resolution in the Ripple vs SEC case. Will
The Blockchain Group is the latest company to signal an intention to increase the size of its Bitcoin holdings. The company has announced a €63 million convertible bond issuance to fund its BTC accumulation plans, mirroring Michael Saylor’s Strategy. The Blockchain Group Unveils BTC-Denominated Convertible Bonds According to a press release, French technology firm The Blockchain Group has announced a convertible bond issuance valued at €63 million. The bond, denominated in BTC and convertible into The Blockchain Group shares, will power the company’s Bitcoin accumulation plans. Per the announcement, Moonlight Capital, Fulgur Ventures, and UTXO Management participated in the bond issuance. Notably, The Blockchain Group Luxembourg will use 95% of the €63 million raised to purchase and hold Bitcoin. The remaining 5% is earmarked for operational expenses and management fees from the Bitcoin treasury. Armed with fresh capital, the company has added 590 BTC to its treasury, bringing its total… Read More at Coingape.com
Bitcoin price rally halted at $97,800 on Saturday, as markets reacted to a major update in Arizona state’s cryptocurrency reserve adoption.
Arizona State Governor Vetoes Against Bitcoin Reserve Bill After Congress Approval
Bitcoin’s upward momentum faced unexpected headwinds this week following a political setback in Arizona. Governor Katie Hobbs formally vetoed Senate Bill 1025, which sought to allow the state to invest public funds in Bitcoin.
This move came just days after the bill passed the Arizona House, signaling bipartisan momentum toward crypto adoption at the state level.
Arizona State Governor Vetoes Against Crypto Reserve Bill, May 2, 2025
Citing fiduciary risk, Hobbs emphasized that Arizona’s retirement system remains one of the nation’s strongest precisely because it avoids “untested” assets like virtual currency.
This development aligns Arizona with several other states, Oklahoma, Montana, and Wyoming, where similar crypto bills have faltered.
The bill had proposed establishing a Digital Assets Strategic Reserve using seized state funds and upto 10% of the state Treasury.
Hobbs’ veto marks a significant reversal, especially as the state legislature had edged closer to positioning Arizona as the first U.S. state to adopt Bitcoin as a reserve asset.
Looking forward, another related proposal, SB1373, still awaits a final vote and may reopen the conversation if it garners enough legislative support.
Bitcoin Price Hits Sell-Wall at $98,000, as Short-Traders Cluster $1.2B Leverage
BTC price posted a strong performance through the week, climbing to new 70-day highs at $97,800 early Saturday before retracing toward $96,700.
The timing of the pullback, which closely followed Governor Hobbs’ veto, appears to have introduced caution among traders and short-term holders.
Data from Coinglass’ Liquidation Map reveals a dense cluster of short positions at the $98,000 mark, where bears have placed roughly $1.2 billion in leveraged bets.
The liquidation map visually highlights where significant liquidations may occur if price moves strongly in either direction.
Bitcoin Liquidation Map, May 3, 2025 | Source: Coinglass
While bulls control a dominant $7.45 billion in long positions, only $4.42 billion sits on the short side. However, nearly 25% of the total short leverage is focused precisely at $98,000, suggesting that bears are using Arizona’s regulatory rejection as a catalyst to test upside resistance.
Despite this, bulls still hold a $3 billion advantage, suggesting a strong defense could emerge around support levels, particularly near $96,000, where previous consolidation zones have formed.
Looking Ahead: Tempered Weekend Action Ahead for Bitcoin Price Forecast
With Arizona’s veto introduces fresh regulatory skepticm, it could weaken institutional demand over the weekend as markets await further clarity.
The presence of $1.2 billion in short positions clustered at $98,200 creates a psychological and technical ceiling, dampening momentum toward a $100,000 breakout.
Bitcoin price action, May 3, 2025 | Source: Coingecko
For Bitcoin to advance towards the $100,000 bullish BTC price forecast trajectory, a decisive move above this short cluster is required, potentially triggered by renewed institutional accumulation or fresh policy tailwinds.
Until then, Bitcoin price action could be limited within the $96,000–$98,000 range, if weekend activity subsides as predicted.
Bitcoin Price Forecast Today: Rangebound Between $96,000 and $98,000 Amid Waning Momentum
Bitcoin price forecast today suggests a tempered and cautious stance, with momentum visibly slowing just below the $98,000 mark.
The daily chart shows BTC consolidating after a strong run, but the reluctance to breach upper resistance near the Bollinger Band’s top at $100,736 reflects rising overhead pressure.
On the positive side, BTC price remains above the 20-day moving average, at $90,813, but the tightening bands signal reduced volatility and a potential pause in upward extension.
Bitcoin Price Forecast Today
The BBP indicator, though still in positive territory at 5,647, has flattened, reflecting a moderation in buying pressure.
Meanwhile, the MACD lines remain in a bullish crossover, but the histogram bars are shortening—implying weakening bullish momentum.
This raises the possibility of a sideways drift over the weekend unless another significant market catalyst revives institutional interest
Bitcoin price forecast today leans cautious as long as price action remains boxed between $96,000 support and $98,200 resistance.
A decisive break above $98,200 would invalidate the consolidation thesis, while a drop below $96,000 could open downside toward $92,000. For now, the technicals call for restraint until clearer direction emerges
