XRP has just dropped below $3, but the market may not be as bearish as it looks. The price fell into the 0.382 Fibonacci retracement level at $2.96, a significant support zone. The wick to $2.94, which matched the 0.618 subwave target, quickly reversed and reclaimed $2.96. This fast recovery is classic behavior often seen when a market finds its bottom.

According to market analyst Casi Trades, the current setup could open the door for XRP to stabilize and possibly aim for higher targets, with levels like $4.80 already on the radar.

XRP Holds Strong At $2.96 Support

XRP’s latest price action delivered exactly what technical analysts were waiting for.  Adding even more weight to the case for a bottom is the Relative Strength Index (RSI). The RSI printed bullish divergence on both the 15-minute and the 1-hour charts. 

While prices were falling, the RSI showed higher lows, signaling momentum was shifting in favor of buyers. Combined with the clear 5-wave downward move on the chart, Casi Trades believes this confirms that XRP has completed its correction phase.

Related Reading: Dogecoin Eyes 1,000% Increase To Reach $2.55 ATH This Cycle

The analyst explained that the drop into $2.96, followed by an immediate bounce, shows that the market “was hunting for a bottom, and XRP delivered.” The combination of Fibonacci levels, divergence signals, and clean wave structure makes this support zone one of the most important in the current cycle.

Bullish Outlook And Upside Targets

Now that XRP has hit and held the $2.96 support, traders focus on the next phase. Casi Trades noted that XRP may linger around this level or retest it again, but its holding is already a positive sign. 

The market analyst expects large-cap cryptocurrencies, including XRP, to lead the next wave of gains. With support confirmed, attention is now shifting to upside targets. The most critical one mentioned is $4.80, but the analyst believes the momentum could carry XRP even higher if conditions remain favorable.

Related Reading

This bullish outlook is fueled not just by XRP’s chart but also by broader market conditions. Large caps tend to move together when sentiment improves, and XRP holding its ground at $2.96 is a signal of strength. “From these support lows across the market, I expect things to turn exciting and bullish,” Casi Trades commented.

If the impulsive upside resumes, XRP’s recovery from this support zone could mark the beginning of a strong upward leg. 

For now, all eyes remain on the $2.96 level. As long as XRP holds above it, the case for a bullish rally stays strong. The market setup points to higher prices, whether it takes off immediately or after a brief consolidation. With the potential for a run toward $4.80 and beyond, XRP’s sharp drop may have just set the stage for its next big move.

Featured image from Dall.E, chart from TradingView.com

Why is the code crashing? One reason is that the Regulatory Turf War over Crypto could ultimately be approaching a conclusion, and that’s not all good news.

The new bill, which granted a clear bill, proposed to land in Congress and hand over the digital assets oversight away from the SEC and to the CFTC.

If passed, the law could redraw the map about how cryptography is governed in the United States and ultimately provide developers, exchanges and investors with the rules they have been seeking. However, many do not place their faith in legislatures with record low recognition ratings.

Discover: 9+ Best High Risk, High Reward Crypto Buy in May 2025

Why is the code crashing? A bold move to redefine crypto monitoring

meeting? The same parliament that did nothing for decades. The approval rate is record low. That council? Well, um, yes!

The Clarity Act reduces long-standing bureaucratic mist with one dull proposal. Most digital assets are treated as products rather than securities. That means reducing the reach of the SEC and placing the Commodity Futures Trading Commission in the driver’s seat.

Rep. Brian Steele, who chairs the House Financial Services Subcommittee, says the move is aimed at pre-elevating the United States in the global crypto race.

“Our bills will ensure control of America, democratize digital assets, unleash innovation and protect consumers from fraud.” Steil said.

ICYMI: Clarity Act was introduced to finally establish clear rules for Crypto@Repfrenchhill Arkansas is leading the charges about what could be the most important cryptographic law we’ve seen in this country. He has joined by a bipartisan group of co-sponsors… pic.twitter.com/07yxuazw1j

– Max Avery (@RealMaxovery) May 29, 2025

That redefinition provides clear coverage to key digital assets such as BTC, ETH, SOL and DOGE, which have long been operating in the legal gray zone.

The bill’s political support will be reduced across party boundaries with Democrats Angie Craig, Richie Torres and Don Davis signing on. In a divided parliament, such coalitions will not form unless the interests are real.

“This is about keeping the US in the game,” Rep. Dusty Johnson said. “We’re behind without making it clear.”

Discover: 20+ Next Cryptocurrency to Explode in 2025

Regulations for changing the game

The bill defines most crypto assets as “digital goods” that contain governance tokens like WLFI, published by Wlld Liberty Financial. It also sketches new categories (“mature blockchain systems”) for open source, decentralized, and individual ownership networks.

Exchanges can either register with CFTC when trading digital goods or remain scrutiny by the SEC when dealing with securities. The CFTC will acquire sole jurisdiction over the spot market under the bill.

Why is the code crashing? What does this mean for the crypto industry?

https://www.youtube.com/watch?v=6b4rrzez6mc

By moving permissions from the SEC to more hands-off CFTC, clear conduct could lower the unencrypted deficit, barrier to building more rooms.

Projects like Ethereum and Solana may gain traction as developers and investors ultimately acquire regulatory breathing chambers. The Defi platform and wallet are also exempt from SEC interference, making it a clear victory for an open source audience.

But don’t bet on a smooth ride. This is the Congress we are talking about, and Trump is pushing for an ambitious August deadline for crypto regulations.

Exploration: XRP Price Jumps 11% after SEC Crypto Unit XRP ETF Progress

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Bitcoin domination The cryptocurrency market is dangerously close to long-term resistance levels that have caused major reversals in the past. This resistance level is highlighted in the weekly BTC.D Candlestick Timeframe chart.

Every time domination taps this descending trend line, it struggles to break through and eventually falls. In particular, Bitcoin’s domination is now returning to this resistance. Technical outlook posted On the TradingView platform, this means that crashes will reach 40% within the next few months.

Bitcoin advantage could crash to 40%: Suitable for the Altcoin market

The dynamics behind Bitcoin domination are different in this cycle compared to previous cycles. This is because domination has grown significantly since the start of this cycle. Leaves almost space for the Altcoin season As many people continue to expect. At the time of writing, Bitcoin’s market advantage is sitting at an annual highest of 63.2%. Data from CoinMarketCap.

Related readings

However, an interesting technical analysis shows that Bitcoin dominance is currently taking advantage of a trend line of resistance, which is at risk of falling below 40% to 34.9%. If that pattern is true again, the crypto market could be nearing the stage where Ethereum, XRP, and other altcoins will regain strength when many hopes become the next alto season.

a Bitcoin’s advantage drop The forewarning of Altcoins will be aggressively boards to show that the Altcoin market is outperforming Bitcoin. This is characterized by a widespread rise in the prices of major altcoins, such as Ethereum, Solana and XRP. In such cases, tokens such as Ethereum, XRP, Cardano, ChainLink, BNB, Litecoin are likely to attract early attention from retailers, so-called Dino coins that survive multiple market cycles.

However, unlike previous Bull Runs, the crypto market is saturated with thousands of altcoins, as most were attracting attention, as they only had hundreds of altcoins. After a large market cap altcoin, the spinning could move towards more niche sectors. Sectors like Artificial Intelligence (AI), Real World Assets (RWA), and DEFI can also attract attention, but even within these categories, choose AltCoins, which will have a strong filtering process applied and improve performance.

Can Bitcoin’s advantage really crash to 40%?

Bitcoin’s domination, which crashes to 40%, is not a new phenomenon, looking at how bull markets unfold in 2017 and 2021. However, it is becoming increasingly difficult for such a phenomenon to occur again. Considering the position of Bitcoin In today’s investment world, through spot Bitcoin ETFs. These funds in these ETFs have been locked up for a long time. In other words, as seen in 2021 and 2017, BTC’s refusal to control may not automatically result in a massive liquidity flow into the Altcoin market.

Related readings

Even if Bitcoin control crashes towards 40% New Altcoin Cycle Guidemany altcoins end up with a brutal drawdown in the end. Over the past market cycle, the majority of altcoins have lost more than 90% as bullish sentiments faded and capital returned to absurd.

Featured Images of Dall.E, Charts on tradingView.com

Plus: Will the US actually buy 1M BTC?

#airdrop-section#

GM. It’s a fruity free-for-all in the market today, but don’t worry – we’re here to slice, dice, and serve up the juiciest bits with zero effort on your part.

Sen. Cynthia Lummis reintroduces the BITCOIN Act.

News drops: EU is worried about Trump, crypto scammers are using new tactics + more

Market flavor today

I meannnn… technically, the chart isn’t all red… Ugh, who am I kidding? It’s still brutal

And things don’t look any better behind the scenes – CryptoQuant says whales aren’t buying Bitcoin like they used to, and US Bitcoin ETFs had $740M in outflows this week alone.

To top it off, BTC demand fell by 103K coins, the fastest drop we’ve seen since mid-2024. Sure, a 22% dip isn’t that crazy for a bull market, but this one feels… heavier.

Glassnode analysts say Bitcoin’s in its post-all-time-high cooldown phase – basically, people who bought the top start bailing. And when BTC crashed to $78K, panic selling kicked in hard.

If this were December or January, the market would’ve seen this as the perfect buy the dip opportunity. But now, everyone’s hesitating.

And with no new buyers stepping in, the market could stay stuck in this correction phase for a while.

The hesitation comes down to tight liquidity, the Bybit hack, and economic uncertainty – especially Trump’s tariff drama.

Which, speaking of that last one… what if this is all part of the plan?

Bitcoin commentator Anthony Pompliano has this theory: Trump and Secretary of the Treasury Scott Bessent are intentionally tanking asset prices to pressure Fed Chair Jerome Powell into cutting interest rates.

Here’s the logic:

• Make investors panic → they dump risk assets like stocks and crypto;

• That money moves into safer assets like US government bonds;

• Higher bond demand = higher bond prices = lower bond yields;

• If bond yields fall enough, the Fed might decide to cut interest rates to match market conditions.

Why would they do this? Simple: the US government has about $7T in debt that needs refinancing soon.

With interest rates high, paying off and reissuing that debt would be crazy expensive. But if the Fed cuts rates, the government can borrow at a cheaper rate and save a ton of money.

And just to keep things extra interesting, February’s Consumer Price Index (CPI) report came in lower than expected:

• Monthly CPI: +0.2% (vs. 0.3% expected);

• Year-over-year CPI: +2.8% (vs. 2.9% expected);

• Monthly core CPI (excludes food & energy): +0.2% (vs. 0.3% expected);

• Year-over-year Core CPI: +3.1% (vs. 3.2% expected).

Translation: inflation is cooling down. That should be good news – the Fed doesn’t have to keep rates high.

Normally, a report like this would pump crypto – but this time, the market barely reacted. Investors are just too worried about everything else goin’ on.

So yeah… they say God gives his toughest battles to his strongest soldiers. But at this point, please, let someone else take a turn – the crypto community has been through enough already…

Memecoin harvest

Even your normie friend might ask if “it’s too late to buy” after seeing these charts:

Data as of 05:35 AM EST.

Check out these memecoins and plenty more here.

Quick reminder: last week, Trump signed an executive order to establish a strategic Bitcoin reserve – which, by all accounts, is HISTORIC… and the market’s reaction was whatever tf we witnessed in the Market Flavor section of this newsletter.

Why? Long story short: the government didn’t really promise that they’d buy more BTC = no guaranteed pump.

(For the full breakdown, read this.)

But Senator Cynthia Lummis doesn’t wanna let that slide. She reintroduced the BITCOIN Act:

If this thing makes it through, here’s what it means:

• Self-custody rights are protected;

• The US Treasury is getting its own Bitcoin vaults;

• The government commits to buying 1 million BTC – about 5% of the total supply – turning Bitcoin into the digital equivalent of America’s gold reserve;

• This all gets funded by reallocating existing government money.

Lummis isn’t alone either – she’s got some new Republican co-signers, including Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno.

Obviously, there’s still a long journey ahead – the bill has to survive Congress first. But it’s wild to think that something like that is even on the table.

News drops

Meteora co-founder Ben Chow’s X account called out DefiTuna’s founders for profiting from memecoins like MELANIA and MATES. Meteora’s official account claimed his account got hacked… and now both of these posts are gone because – plot twist – both accounts got hacked.

The SEC delayed its decision for XRP, Solana, Litecoin, and Dogecoin ETFs. But no need to worry – Bloomberg ETF analyst James Seyffart says it’s just business as usual.

A solo Bitcoin miner with a tiny 480 GH/s rig beat industrial giants with 230,000+ GH/s and won the full $263K reward. Absolute underdog flex.

Scammers got creative in 2024. California’s financial watchdog received 2,668 complaints and found seven new crypto and AI scam tactics.

EU finance officials worry that Trump’s support for crypto will disrupt Europe’s financial stability. The ESM says the digital euro is no longer just an option – it’s essential for maintaining control.

Juicy memes