Binance plans to list Skate (SKATE) on June 9. The listing offers initial trading with up to 50x leverage. Continue Reading: Binance Announces New Altcoin Listing Despite Market Dip The post Binance Announces New Altcoin Listing Despite Market Dip appeared first on COINTURK NEWS .
The recent bypass of established congressional rules during a key bill passage has ignited concerns over legislative transparency and its ripple effects on crypto market stability. This unprecedented procedural maneuver
Crypto markets experienced significant turbulence as liquidations surpassed $1 billion, with Bitcoin price reacting sharply ahead of key options expiry and US jobs data releases. Major altcoins followed Bitcoin’s downward
In the last month, the daily decentralized exchange (DEX) volume on the BNB Chain has shot up, nearly 7x from about $2B in early May to over $14B today. At first glance, this spike looks like a return to better days for DeFi. But if you look under the hood, you find another engine powering this move — a single mid-cap token, ZKJ, which has added around 50% of the total DEX volume. ZKJ Outpaces Peers by 68x — But Why? Grasping the scale of DEX dominance by ZKJ takes some doing. Consider this: ZKJ itself ranks only about #106 by market cap. That’s an ordinary mid-cap position. And yet, its daily volume sits at a figure close to $6.8 billion. An absolutely astonishing amount when you compare it to other tokens with a similar market cap. For instance, Apecoin (APE), a much-hosted token that ranks close to a similar market cap as ZKJ, sees about $100 million in daily volume. Of that, roughly 90% comes from centralized exchanges. Those figures don’t come close to the amount of trading volume ZKJ pulls in from its decentralized exchange. By contrast, ZKJ’s DEX volume is 68 times that of APE, an incredible discrepancy that raises uncomfortable questions. We may find those answers in a new feature offered by Binance: Binance Alpha 2.0. Binance Alpha 2.0 offers users the chance to trade tokens listed on DEXs straight through the Binance CEX interface, even when those very same tokens exist nowhere on Binance itself in any official capacity. This accounting system effectively stitches together the usability of a centralized exchange with the liquidity of a decentralized one, all while users nicely nestle inside the Binance UI they’ve grown attached to. This new trading system is responsible for up to 80% of ZKJ’s trading in the last 24 hours. Much of the recent surge in trading this token has seen can be accounted for by this mechanism. And that is not entirely a good thing. 1/ The daily DEX Volume on BNB has increased 7 times compared to early May, from approximately $2B to $14B. However, close to 50% of the volume comes from ZKJ Pairs, the token by @PolyhedraZK . 2/ For context, ZKJ is a mid-cap token that ranked at 106. Their 24H volume is… pic.twitter.com/uEaEPV7tIt — Tom Wan (@tomwanhh) June 4, 2025 Suspicious Patterns Emerge: Wash Trading or Farming? Researchers have flagged a troublesome pattern associated with Binance Alpha 2.0. More than 150 wallets that exhibit nearly identical trading characteristics when it comes to ZKJ have been identified. What’s more, the analysis of blockchain data shows these wallets also exhibit the following traits: Almost identical total amount of trading Nearly the same amount of buying and selling Almost the same number of trades Almost the same average size of the trade These similarities are causing worries about wash trading, a practice in which traders (or bots) quickly buy and sell the same asset to boost volume and make it seem like there’s demand — a behavior that’s often linked to point farming or platform incentive schemes. Binance has accepted that bot activity exists within the Alpha 2.0 framework, which is linked to a points farming program. The platform has stated that it is monitoring this activity and doing what it can to minimize it. Nonetheless, the trading patterns that these wallets exhibit with uncanny regularity have led many people to believe that the trading volume associated with ZKJ is not generated in an organic way. The behavior of the execution addresses used for these trades is even more puzzling. Binance, acting as the proxy for DEX trades through Alpha 2.0, should be consolidating activity. But the execution addresses show that the ZKJ trade volume is evenly distributed, which is not at all what you’d expect with user-driven activity. This suggests that either an orchestrated strategy or an automated process is responsible for generating the volume. A Question of Transparency and Metrics Integrity The ZKJ episode brings into focus a much larger problem that DeFi and hybrid exchange platforms are forced to confront. They have to find a reliable way to tell real market interest from fake, artificially generated metrics. Even massive volume figures can no longer be automatically trusted. There are a few well-known mechanisms and possibly a handful of bots doing the work to drive up the numbers. And the industry learns once again that volume alone doesn’t tell the full story. This is a cautionary tale for investors. Although the emergence of Alpha 2.0 and cross-platform trading brings with it the promise of exciting new tools and efficiencies, it also gives us reasons to suspect that those tools and efficiencies are being gamed. So why be wary? Because these developments threaten to undermine the appearance of genuine liquidity in the capital markets. Binance is still under scrutiny, and so is ZKJ; meanwhile, the industry is waiting to find out more and, quite possibly, some stricter safeguards to ensure that the next surge in billion-dollar volumes really is based on user activity — as opposed to wallets that have been programmed to look, in almost every way that counts, like real users. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Summary Ethereum had a rough beginning of 2025 - failing to reach new all-time highs, while Bitcoin smashed through its own ATH multiple times. ETH/BTC is a great cryptocurrency spread for a crypto trader to spot relative performance, provide a direction for which crypto to choose, and track the appetite for altcoins. ETH/BTC rising helped altcoin bull runs in the past cycle - something that many crypto traders have been awaiting and is yet to materialize again. By Elior Manier Ethereum ( ETH-USD ) had a rough beginning of 2025 - failing to reach new all-time highs, while Bitcoin ( BTC-USD ) smashed through its own ATH multiple times. Solana ( SOL-USD ), providing a cheaper alternative to ETH services, also held stronger than the Ether throughout the latter part of 2024 and beginning 2025. ETH performance is key to the overall crypto market performance; the past Altcoin cycles have always been led by ETH performance over BTC. ETH/BTC is a great cryptocurrency spread for a crypto trader to spot relative performance, provide a direction for which crypto to choose, and track the appetite for altcoins. Through this crypto market update, you will see how ETH/BTC rising helped altcoin bull runs in the past cycle, something that many crypto traders have been awaiting and is yet to materialize again. ETH/BTC and its Correlation to total Market Performance ETH/BTC and Total Crypto Market Cap, 2017 to End 2021 (Source: TradingView) This 2017-2021 chart of ETH/BTC contains essential information about understanding the crypto market. Through 1 and 2, we observe how the first bull run in ETH and ETH/BTC led to the 2017 total crypto market bull run - taking the market cap from $20-30B average to highs of $620B in November 2017. Number 3 on the chart shows how a drop in ETH/BTC leads to a significant cooldown of the crypto market, going back towards a total market cap between $100 and $250B from 2018 to the end of 2020. From end-2020 to the end of 2021, number 4 shows the same correlation of ETH/BTC and crypto markets rallying. This Covid-era bull run introduced crypto for an ever-bigger number of investors, and led to the flurry of altcoins and cryptocurrency projects such as Doge, Avax, Solana. The crypto market cap went from $300B to $2.86T, and this level only got reached again in November 2024. Finally, number 5 shows similarly to number 3 how the drop in market cap correlates with a drop in the ETH/BTC spread. ETH/BTC from 2020 to Today ETH/BTC and Bitcoin, 2020 to June 5, 2025 (Source: TradingView) We take a closer look at the 2021 Bull Run and how the December 2021 top in ETH/BTC led again a significant correction in the crypto market. 2023 was all about Bitcoin Dominance as its rally from $14,475 to its record highs of $112,030 left Ethereum and all other altcoins lagging. We are seeing a breakout from the descent that started at the same level as the 2020 ETH/BTC bullish breakout - we will see if the spread continues upward and if it generates another bull run for altcoins. ETH Daily Chart ETH Daily Chart, June 5, 2025 (Source: TradingView) ETH had a consequent rally after a significant drop between $4,000 highs in December 2024 to $1,363 lows in April 2025. Prices are consolidating between $2,300 and $2,600. The key is to see if Bitcoin prices that are also stagnating above the $100,000 Mark leads to rallies in other cryptos as the same phenomenon happened in past bull cycles. Levels to watch: Support Zones: S1: 2,385 to 2,525 S2: 2,035 to 2,167 S3: 1,700 to 1,825 Resistance Zones: R1: 2,600 to 2,750 R2: 3,225 to 3,363 R3: 3,660 to 3,800 ETH 4H Chart ETH 4H Chart, June 5, 2025 (Source: TradingView) Safe Trades! Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
In an incredible event of fortune and timing, a lone Bitcoin miner has successfully mined a whole block all by themselves, with no help from a mining pool or a sponsor like a bank or corporation. They earned a reward of 3.151 BTC, a windfall presently worth over $330,000. These underdog events shine a light on the resilient decentralization of the Bitcoin network, even if some may now use that phrase as a euphemism for its security flaws. In the early morning hours, a rare event took place that caught the crypto community’s eye and kicked off discussions about whether solo mining is a feasible option these days, given that the mining landscape seems dominated by industrial-scale mining operations. A One-in-a-Million Moment The block, officially mined at 4:48:18 a.m. UTC, was verified as valid and included in the Bitcoin blockchain. The total reward of 3.151 BTC consisted of the standard extbf{3.125 BTC block subsidy}, plus an additional extbf{0.026 BTC in transaction fees} amounting to roughly $2,761. The block itself measured 1.66 megabytes in size and included a standard assortment of transactions. This achievement was accomplished by a solo miner even while the Bitcoin network’s total hashrate was over 600 exahashes per second. Most of the computational work that was assembled from the many mining operations that were running at that time was directed towards solving the puzzles that, when solved, would produce valid Bitcoin blocks. The odds of a single miner successfully completing one of those puzzles and finding a valid block were, of course, exceedingly low. **Bitcoin Miner Hits the Jackpot!** Solo CK mined block 899,826 on June 5, 2025, scoring 3.151 BTC (~$330,386)! Here's the breakdown: • Mined at 4:48:18 a.m. UTC • Reward: 3.125 BTC subsidy + 0.026 BTC fees ($2,761) • Block size: 1.66 MB pic.twitter.com/vJuQoh4YAW — Ahmed Osman (@Ahmedot2Osman) June 5, 2025 Though the exact hardware used by the miner remains unspecified, the consensus among experts is that the conditions—successful mining, that is—would necessitate powerful rigs like the Antminer S21 or WhatsMiner M60, both well-regarded for not just their efficiency, but their sheer output of hash power. Even so, elite equipment alone doesn’t tip the scales toward success; the miner has to have a significant chunk of the global hasrate under his influence. Why Solo Mining Is Rare — and Risky In the domain of Bitcoin mining, the majority of players opt to associate themselves with mining pools, for instance, F2Pool, AntPool, or ViaBTC. These mining assemble the computational might of thousands of miners, dishing out smaller, consistent rewards instead of the solitary, do-or-die nature of mining all by oneself. Mining alone means doing everything a miner must do to find a block and then submitting that block to the network. If a solo miner finds a block, the reward is theirs and theirs alone. Obviously, this is a tremendous payday. And for us to even talk about it here, it must happen in the real world. So, let’s look at what it takes to mine alone, and after that, we’ll consider what it means to have a real-life payday scenario. These infrequent solo victories do happen, though, as demonstrated by the most recent case of a miner using Solo CK, a known solo mining pool that still preserves the spirit of decentralized mining by enabling individuals to point their hardware toward block discovery without profit sharing. A Testament to Bitcoin’s Decentralization Even though industrial mining farms and large, centralized pools of hashing power are on the rise, the occasional story of a successful solo Bitcoin miner is a powerful reminder that the Bitcoin network’s decentralized architecture is alive and well. This is a story of a successful solo Bitcoin miner. By “successful,” I mean this individual consistently brings in Bitcoin rewards (“mined” a few himself, but has “earned” quite a few more through participating in the Bitcoin network). By “network,” I mean the assemblage of many computers all over the planet, doing many computations. By “decentralized architecture,” I mean a system of many nodes by which no one node, or set of nodes, can control the whole system. The miner’s triumph has unleashed torrents of excitement and admiration throughout online spaces. It also resurrects a vital discussion: even in a massively parallel, technologically state-of-the-art mining world, Bitcoin remains a theoretically level playing field. It is yet to be seen whether more people will be encouraged to take a stab at solo mining. But this moment serves as evidence that the solo mining dream is not dead. It’s just incredibly hard. The global mining landscape is evolving rapidly. This makes it all the more crucial to illuminate why Bitcoin inspires and captivates people all around the world. It’s not simply about the cash that’s involved. It’s about the very ethos of this network: permissionless participation and decentralized opportunity. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Last month, CoinDesk reported that big money is becoming increasingly bullish on ether ETH, with price charts indicating a potential rally above $3,000. New evidence has now emerged, supporting those claims. On Thursday, a trader paid a premium of over $2 million to purchase a total of 61,000 contracts of June-end expiry ether call options at strikes $3,200 and $3,400, according to data source crypto options exchange Deribit. Theoretically, the $3,200 call is a bet that ether's price will rise from the current $2,460 to over $3,200 by the end of the month. The purchase of the $3,400 call indicates expectations for a move above that level. In other words, the trader anticipates a price surge of over 30% in three weeks. A call option gives the purchaser the right but not the obligation to buy the underlying asset at a predetermined price at a later date. A call buyer is implicitly bullish on the market and pays a premium for the asymmetric upside exposure. The premium paid, in this case, $2 million, is the maximum amount the buyer stands to lose in case the market doesn't rise as expected. Stars align for bulls The bullish flow is consistent with the renewed optimism among some analysts about ether's price prospects. According to Youwei Yang, Ph.D., chief economist at BIT Mining, protocol upgrades, institutional moves, and anticipation around new financial products have all come together to restore investor confidence in ether. Ether's parent blockchain, Ethereum, recently implemented the Pectra upgrade to enhance scalability, validator flexibility, and user experience, introducing key features like EIP-7702 to enable regular wallets to leverage smart contract capabilities. "The Pectra upgrade , which went live on May 7, has been a key turning point. By raising the validator cap from 32 to 2,048 ETH and doubling blob throughput, Ethereum took a major step forward in both staking efficiency and Layer-2 scalability," Yang said in an email to CoinDesk. "It’s a clear signal that the network is serious about scaling and improving its core infrastructure. That’s the kind of technical progress that brings not just developers, but also users and capital, back into the ecosystem," Yang added. Yang cited SharpLink Gaming’s announcement that it would move $425 million into Ethereum as a treasury reserve asbold endorsement of ether as the corporate Treasury asset. "It reminds us of the early wave of Bitcoin treasury adoption by corporates, and it could be just the beginning of something similar for ETH," Yang noted. Lastly, speaking of institutional adoption, speculation has been circulating that U.S. regulators will soon approve a spot ether ETF with a staking mechanism, opening doors for institutions to take exposure to both the price and the staking yield, a feature missing in BTC ETFs. Read more: Ether Favored Over Bitcoin by Big Money, Here Are 3 Clues That Point to ETH Bias in Crypto Market
Yuga Labs CEO Greg Solano posted an ape improvement proposal (AIP) calling for the closure of the ApeCoin DAO and the launch of ApeCo, a new operating model for ApeCoin. Solano said it was time for a leaner, faster “org” to take the reins. Solano stated that the ApeCoin DAO was born in a different era and may have just run its course. He added that the DAO started with promise but quickly spiraled into gridlock, governance theater, vanity proposals, and low-impact noise. Too many resources went to vanity proposals and low-impact initiatives. According to Yuga Labs boss, the DAO had become misaligned with the future his company aimed to build, although it was instrumental in bootstrapping ApeCoin’s early momentum. He claimed that the next chapter demanded sharper focus, faster execution, and an operating model that backed only the highest-caliber projects. Solano says the AIP clears the ‘cruft’ and installs a professional operation Since returning as CEO, everything I've worked on has aimed at one thing: getting back to the spirit and velocity of year one, when @gordongoner and I were building Yuga from scratch. We've made huge progress. But the biggest unlock would be in getting ApeCoin rowing in the… — Garga.eth (Greg Solano) (@CryptoGarga) June 5, 2025 Solano claimed that the proposal cleared the cruft and installed a professional operation to direct capital with conviction and strategic intent. Yuga Labs’ co-founder Wylie Aronow said he had no words for how annoyed he was with his partner Greg for making him google the word ‘cruft’ on a Sunday but added that he supported the “f**k out of this idea.” Solano explained that the AIP authorized the orderly transition of assets and responsibilities to the new ApeCo entity established by Yuga Labs. ApeCo’s mission was to supercharge the APE ecosystem by supporting high-quality builders and reinforcing three core pillars: ApeChain, Bored Ape Yacht Club, and Otherside. According to the Yuga Labs CEO, the redeeming aspect of the DAO was that it funded builders. He pointed out that Yuga still believed in that mission, but the bar on what was worth funding was going way up. The new model must focus on quality, impact, and alignment with the core of what ApeCoin was meant to power. “The DAO served its purpose, but the game has changed…We’re no longer in the experimental phase. We’re building the best chain in crypto and expanding the most iconic brand in NFTs. ApeCoin should be the economic engine for that future.” – Greg Solano , CEO at Yuga Labs Yuga Labs’s Solano also said everything he had worked on since returning as CEO aimed at one thing: getting back to the spirit and velocity of year one when he and Aronow were building Yuga from scratch. He added that the duo had made huge progress, but the biggest unlock would be getting ApeCoin rowing in the right direction. Makash believes sunsetting the DAO for ApeCo is wise Mak Makash, the founder of the Raccoon Gin Ape project and the main initiator of AiP 495, said he had been building with ApeCoin and ApeChain from the trenches–from IRL integrations to premium products that bridged Web2 and Web3. He added that sunsetting the DAO in favor of ApeCo was not the end but the maturation of what the Ape community dreamed ApeCoin could become. Makash believes this AIP was the long-overdue evolution the ecosystem needed, adding that it brought clarity, speed, and quality over chaos. He also said the ApeChain, BAYC, and Otherside Trinity deserved complete focus since builders would finally have a structure that supported innovation at pace, with accountability and purpose. Makash claimed that he fully supported this shift and was ready to start building under ApeCo. Solano stressed that the transition would unleash faster product development and capital deployment, eliminate governance gridlock that held real builders back, and reignite belief in the long-term utility and cultural significance of ApeCoin. He also said it would make ApeChain the most culturally relevant chain in crypto. The Yuga Labs CEO disclosed that killing the ApeCoin DAO enabled experimentation at the cost of quality and encouraged governance participation but became easy to game. He also said it funded some good builders but many bad ones, and it was never optimized for long-term product development or market agility. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
A turbulent week has struck Solana , with price drops, regulatory issues, and investment uncertainties. Yet in the midst of all this, a record-setting development pace on the chain is apparently unstoppable. Inferring from the scant actual metrics, this means upcoming major infrastructure changes are cooking up something that should be good for all existing and future SOL holders. This week in the Solana ecosystem, things happened from ETF troubles to announcement of funds running to the billion-dollar level. Let’s break down the week, as that same long-term Solana bullishness we keep talking about seems to potentially be even more entrenched than it was last week. Solana SOL Price Falls, But Builders Stay Active This week, we saw a substantial adjustment in Solana’s base currency, the SOL token. The price of SOL took a dip, from $176 down to about $160. Those figures come from prices across various crypto exchanges. A drop like 9% in a single week is certainly noticeable, and it’s tempting to chalk it up to whatever’s latest and greatest in crypto news. But such a move tends to get most of its energy from the asset itself. Week in Solana: A $1 Billion Bet, Despite SEC’s ETF Questions SOL drops 9% as ETF hopes hit legal roadblocks! MetaMask goes Solana-native! $1B investment plan filed! Bonk enters gaming with a win-to-earn shooter! Let’s break down Solana’s week on-chain and off 1/6 pic.twitter.com/RCLjI4MpF6 — CoinMarketCap (@CoinMarketCap) June 4, 2025 One signal, however, keeps flashing green: developer activity. Just in May, over 1.4 million new tokens were launched on Solana, and most of them, let’s be honest, were meme coins. Token launches are a kind of crude but effective way to stimulate development and leverage your community for an ecosystem where experimentation is taken to the next level. Most projects won’t go anywhere, but those that do could evolve into the next big thing. No one might care about meme tokens in a year’s time, but when a layer-1 blockchain attracts the sort of development that Solana has lately enjoyed, it’s not something to be scoffed at. The network’s fundamentals demonstrate resilience even during a price downtrend. Outstanding throughput paired with minimal fees renders Solana one of the most appealing chains for serious developers and casual creators. ETF Doubts Surface, But Institutional Interest Grows The largest tale from a regulatory perspective emerged from the U.S. The Securities and Exchange Commission (SEC) expressed unease over whether Solana-based staking products could be legally set up as exchange-traded funds, or ETFs. The agency’s qualms pertain to the mechanics of staking SOL and whether they ought to satisfy the legal parameters for ETF eligibility under U.S. securities law. The cloud of uncertainty hanging over Solana today poses a potential obstacle to the blockchain’s future attractiveness for traditional institutions. Many of these entities prefer regulated financial products—such as ETFs—in order to obtain exposure to digital assets. Solana being SOS’d in by the SEC was not a favorable development for anyone hoping to see the blockchain keep pace with (or better yet, precede) Bitcoin and Ethereum in terms of ETF interest. However, institutional money continues to pour into the Solana ecosystem, and this is resilient to any kind of official opposition. A Canadian firm by the name of SOL Strategies has plans on the table to raise no less than $1 billion, and their entire fund is committed to Solana-based investments. Meanwhile, a firm called Classover Holdings is trying to raise a cool $500 million, and 80% of that capital is designated to be directly used for purchasing and holding SOL in their treasury. Some large-scale investors seem to be interpreting these announcements as something other than a harbinger of regulatory trouble. They’re saying: Long-term bet on Solana. Technical backbone plus economic design equals something with potential. MetaMask Solana Integration and BONK Gaming Expansion This week also brought some noteworthy developments in adoption and ecosystems, especially in the areas of accessibility and consumer engagement. One of the most widely used crypto wallets, MetaMask, has officially launched support for the Solana network. This is available via its browser extension, with mobile compatibility expected soon. This move could significantly expand the number of users interacting with Solana-based dApps and tokens. This is especially true for those already using MetaMask on other blockchains like Ethereum or Polygon. From the gaming and cultural side of things, speculators can forget BONK as a trading vehicle. The project launched Bonk Arena , a browser-based first-person shooter where players earn BONK tokens and, presumably, have a great time doing it. Bonk Arena is in the early access stage (you can play on the official site by connecting your Solana wallet), and that’s fitting, considering that entertainment is the main utility of this meme-ified currency. The launch of the game highlights the speedy development of Solana’s ecosystem aimed at consumers. This part of the ecosystem, which is concerned with providing experiences to users, is where Solana the blockchain meets Solana the foundation. And what kinds of experiences are being provided? Ones that merge games, money, and memes. To summarize, even though Solana’s market performance and regulatory clarity took a hit this week, the network received some very lucrative and promising signals of long-term commitment from builders, users, and deep-pocket investors. The network’s ability to grow in parallel with this uncertainty could just as easily place it as a leader in the next cycle of Web3 expansion. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
XRP is trading near a crucial support level at $2.12, down 4% in the past 24 hours, as widespread market turmoil weighs on sentiment and price momentum. XRP’s ( XRP ) 24-hour volume rose nearly 80% to $2.97 billion, which can be attributed to the ongoing selloff. At the same time, derivatives data from CoinGlass shows a 70% jump in trading volume, while open interest fell by 3.7%. This shift often indicates traders exiting longer positions and rotating into short-term plays, especially during fast-moving markets. XRP’s latest decline is tied to that of the broader crypto market, which suffered a steep pullback on June 6. It shed nearly 5% as political tensions between President Donald Trump and Elon Musk rattled investor confidence. The clash erupted after Musk stepped down from the Department of Government Efficiency and criticized Trump’s new federal spending bill . In response, Trump revoked a NASA nomination tied to Musk’s circle and warned that his businesses could lose federal contracts. The tension grew further when Musk linked Trump to the Jeffrey Epstein files, calling for his impeachment. Trump fired back, saying Musk had “gone crazy.” Tesla shares dropped more than 14%, and Musk said SpaceX would retire its Dragon spacecraft. You might also like: A classic 95-year-old theory suggests XRP price could surge soon Looking at the daily chart, XRP’s price has now slipped below the 20-day moving average and is testing the lower Bollinger Band near $2.07. This area marks the last level of support from XRP’s latest volatility range. A break below could open the way to deeper losses. Although it does not yet indicate extreme conditions, the relative strength index, which is currently just under 40, shows weak momentum. XRP price analysis. Credit: crypto.news The majority of moving averages are still displaying bearish indicators. The price is currently below the 10-day through to 100-day averages, which are trending lower. The only exception is the 200-day exponential moving average, currently near $2.08. This level may act as a key support if buyers step in. The downtrend is confirmed by the moving average convergence divergence, which is still negative. The Stochastic RSI and other short-term oscillators are neutral, indicating that the market is awaiting a clear direction. That direction could come soon. By June 16, a major update in the Ripple v. SEC case is expected. Investors are keeping a close eye out for any indications of a settlement. Any development could reduce legal uncertainty and improve sentiment. There is also growing interest from large firms. VivoPower has committed $121 million to XRP as part of its treasury strategy. Chinese firm Webus International has also revealed plans to establish a $300 million XRP treasury, while ACG, a subsidiary of Nasdaq-listed Hyperscale Data, announced plans to acquire up to $10 million worth of XRP by the end of 2025. In addition to the rising corporate treasury demand , ETF applications from Bitwise, Grayscale, and others are also pending approval. Franklin Templeton’s decision is expected on June 17. Read more: XRP hits oversold conditions on exchanges, reversal incoming?