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XRP price is gaining pace above the $3.10 zone. The price is up over 10% and might extend gains above the $3.40 level in the near term. XRP price is showing bullish signs above the $3.20 zone. The price is now trading above $3.220 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with resistance at $3.00 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $3.220 zone. XRP Price Rallies Over 10% XRP price formed a base above the $2.85 level and started a fresh increase, beating Bitcoin and Ethereum . The price gained pace for a move above the $3.10 and $3.15 resistance levels. The bulls pumped the price above the $3.20 level. Besides, there was a break above a bearish trend line with resistance at $3.00 on the hourly chart of the XRP/USD pair. It is up over 10% and trading above $3.30. A high is formed at $3.38 and the price is now signaling more gains since it is stable above the 23.6% Fib retracement level of the upward move from the $2.90 swing low to the $3.380 high. The price is now trading above $3.30 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.40 level. The first major resistance is near the $3.420 level. A clear move above the $3.420 resistance might send the price toward the $3.50 resistance. Any more gains might send the price toward the $3.550 resistance or even $3.620 in the near term. The next major hurdle for the bulls might be near the $3.750 zone. Are Dips Limited? If XRP fails to clear the $3.40 resistance zone, it could start a downside correction. Initial support on the downside is near the $3.250 level. The next major support is near the $3.150 level or the 50% Fib retracement level of the upward move from the $2.90 swing low to the $3.380 high. If there is a downside break and a close below the $3.150 level, the price might continue to decline toward the $3.10 support. The next major support sits near the $3.00 zone where the bulls might take a stand. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $3.30 and $3.250. Major Resistance Levels – $3.40 and $3.420.
Futures market data shows traders quickly closed positions after a burst of speculative activity tied to White House policy moves.
The U.S. has dropped a heavy hand on Iran by sanctioning 18 entities and individuals that are part of a network helping the country evade sanctions and funnel money. This move, announced by the U.S. Treasury Department on Thursday, is all about keeping the pressure on Iran, who the U.S. believes continues to flout international sanctions. This network includes companies like RUNC Exchange System Company, Cyrus Offshore Bank, and Pasargad Arian Information and Communication Technology, all of which are accused of working behind the scenes to keep Iran’s economy moving despite sanctions. Treasury Secretary Scott Bessent made it clear that these new measures are part of a broader U.S. strategy to choke off Iran’s financial lifeblood. He emphasized that Washington intends to keep targeting the channels Iran uses to evade sanctions, with the ultimate goal of blocking the revenue that funds the country’s military programs. “Treasury will continue to disrupt Iran’s schemes aimed at evading our sanctions, block its access to revenue, and starve its weapons programs of capital in order to protect the American people,” he said. Targeting key players in Iran’s financial web The new sanctions are focused on companies and individuals that provide Iran with a way to get around the financial restrictions imposed by the U.S. government. RUNC Exchange is one of the main targets, a company accused of being involved in illegal money transfers, making it easier for Iran to sidestep American financial regulations. Another big target is Cyrus Offshore Bank, a key player in moving money that Iran needs to fund its activities. Alongside these, Pasargad Arian Information and Communication Technology, an Iranian tech company, has been added to the list due to its connections to financial dealings linked to Iran’s controversial activities. The Treasury’s efforts go beyond just freezing assets or imposing financial restrictions. This is part of an ongoing attempt by the U.S. to dismantle the network of firms and individuals helping Iran stay afloat economically. Washington’s message is clear: businesses and institutions that choose to engage with Iran will face consequences. It’s a tactic that’s been ramped up in recent years, as Iran continues to search for ways to bypass sanctions and keep its economy moving, especially in sectors that fund its military ambitions. Oil prices react to tariffs and sanctions While the sanctions hit Iran, the broader global market is feeling the heat of new U.S. tariffs. On Thursday, U.S. tariffs against several trade partners went into effect, raising concern about economic slowdowns that could dampen demand for oil. Early Friday trading saw Brent crude at $66.40 per barrel, with a week-over-week drop of more than 4%. Meanwhile, U.S. West Texas Intermediate (WTI) futures slid to $63.82 a barrel, marking a more than 5% decline over the week. The market reaction stems from fears that global economic growth could slow due to these tariffs. In turn, this could reduce the demand for crude oil, as noted by ANZ Bank analysts. This comes on top of decisions made by the OPEC+ group to roll back significant oil output cuts sooner than expected, pushing oil prices even lower. At the same time, the Kremlin confirmed that Russian President Vladimir Putin and U.S. President Donald Trump would meet soon to discuss the ongoing war in Ukraine. This diplomatic effort is expected to have a major impact on global markets. Even though Russia’s oil exports continue despite sanctions, new tariffs on India for buying Russian crude oil have kept pressure on oil prices, with analysts warning that the tariff move won’t drastically reduce the flow of Russian oil into global markets. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.
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As the US Congress continues to work on crypto-related legislation, some industry leaders disagree on which version of the market structure bill will provide the much-needed clarity to the sector. Paradigm Champions Senate’s Crypto Bill On Thursday, several industry players discussed the differences between the US Congress’s versions of one of the landmark crypto bills. Following the passage of the GENIUS Act, the sector is now focused on the key market structure legislation, which is expected to offer the long-awaited clarity and protection for the industry. Notably, the House of Representatives introduced and already passed the Digital Asset Market Clarity (CLARITY) Act of 2025, which seeks to establish a regulatory framework for crypto assets in the US, facilitate the growth of crypto projects, and protect customers. In June, the US Senate started working on principles for its version of the market structure legislation, looking to draft a comprehensive set of rules. As reported by Bitcoinist, the Senate Banking Committee released a draft of its “framework of principles,” outlining six key principles for the upcoming crypto bill, which were allegedly “very well received” by the Decentralized Finance (DeFi) sector. Today, Paradigm’s General Partner, Dan Robinson, shared the firm’s response to the Senate Banking Committee’s discussion draft on the bill, suggesting that this version is the best approach. Chainlink Labs, Galaxy Digital, Tribe Capital, Multicoin Capital, Electric Capital, and Ribbit Capital co-signed the letter. Robinson argued that while both bills are an “improvement on the Howey -based regime (…), the Senate draft is significantly simpler, and avoids forcing decentralized tokens and protocols to fit themselves into an inflexible legislative framework.” The lawyer explained that the Senate’s draft focuses on the concept of ancillary assets, which “distinguishes the typical crypto asset from securities due to its innate nature.” To the firms, this is the “cleanest test” that protects decentralized crypto assets while preventing traditional securities issuers from improperly exploiting this framework. Paradigm’s VP of Regulatory Affairs added that if regulatory clarity involves replacing the current “inscrutable regime that no one can register under or operate in with another complex regime that requires a phalanx of lawyers & millions of dollars to comprehend, this exercise will have failed.” Industry Players Divided Over Legislation In an X post, journalist Eleanor Terret noted that most of the major crypto Venture Capital (VC) firms, except a16z crypto, “aligned on market structure and token classification for the first time.” Nonetheless, a16z crypto’s Head of Policy and General Counsel, Miles Jennings, disagreed , stating “most major crypto hedge funds is more accurate. Most major crypto VCs supported CLARITY’s token maturity framework.” Jennings highlighted the Decentralization Research Center’s (DRC) summary chart comparing the Senate and House’s versions, arguing that “the undermining of CLARITY’s transfer restriction framework creates short-term incentives to circumvent decentralization and dump on retail. That’s not good for innovation.” Earlier this week, the DCR also submitted its response to the Senate Banking Committee’s discussion draft, underscoring the importance of “building on the strong foundation established by the CLARITY Act.” The non-profit organization considers that while the Senate’s version is still evolving, the House’s “robust, control-based decentralization test” is the better approach. Last month, the DCR and 50 other leading industry players sent a joint letter to Congress leaders supporting the CLARITY Act, the largest coalition of organizations in agreement on a particular test for decentralization, as the post noted. Additionally, the non-profit affirmed that “sound market structure legislation must be grounded in control” and regulatory attention must focus on where it is warranted, while “preserving space for innovation and open systems.” Similarly, attorney Gabriel Shapiro concurred that “the House approach is far superior.” To him, the Senate’s test is a “pure race to the bottom” with “stuff that makes no sense from a policy perspective.” The fewer rights people have, the less regulated something is? it should be the opposite–if they have more rights, they are more protected under general contract law and there is less need for regulation. . . this is how you get pure memecoin mania forever, equity/token conflict of interest forever, etc. . .
Biotechs, miners and hoteliers are snapping up crypto to boost their share prices, but experts warn of a crisis if markets crash
Spanish bank acting as independent custodian for clients of world’s biggest crypto exchange
Bitcoin’s recent price action has drawn renewed attention as the asset attempts to rebound from last week’s decline. Following its July peak above $123,000, BTC experienced a downturn, hitting lows around $112,000 over the weekend. However, the latest data now suggest a gradual recovery in progress, with the cryptocurrency trading above $116,000 at the time of writing. Despite this modest rebound, some analysts are warning that underlying market sentiment could be pointing to a potential correction. Recent insights from contributors on the CryptoQuant QuickTake platform highlight signs of increasing optimism among traders, particularly on Binance. The balance between long and short positions is showing a distinct bias toward the long side, a pattern historically associated with short-term reversals. Related Reading: US Delay On Bitcoin Audit Is A Bullish Red Flag, Says Strike CEO Sentiment Indicators Raise Red Flags on Binance CryptoQuant analyst BorisVest recently discussed how sentiment on Binance, based on long-short positioning, has shifted notably into positive territory. According to BorisVest, the platform’s sentiment metric has shown a surge in long positions as BTC moved from $112,000 to $115,000. He noted that such spikes often coincide with price corrections. “The clustering of green bars in the sentiment chart suggests that traders are increasingly expecting prices to rise. However, excessive optimism tends to be countered by market corrections,” he explained. The analyst added that Binance, given its dominant share in trading volume, provides valuable insight into broader trader behavior. When the long position concentration grows during price increases, it may indicate a potential round of profit-taking. BorisVest stated that a meaningful correction would likely require BTC to fall below the $110,000 mark, which could offer more favorable re-entry points for buyers while restoring balance to the market structure. Bitcoin Leverage Data Shows Mixed Signals for Recovery In a related post, another CryptoQuant analyst, Arab Chain, examined the ongoing decline in Binance’s leverage ratio. Typically, a reduction in leverage is interpreted as a signal that overleveraged traders are exiting the market, thereby reducing volatility and risk of forced liquidations. “Lower leverage suggests less speculative behavior in the short term,” Arab Chain noted, “which often contributes to more stable price action.” Related Reading: Japanese Financial Giant SBI Moves Forward With Bitcoin-XRP ETF Application However, Arab Chain also pointed out that both leverage and price have been falling in tandem, which may reflect weak demand from spot buyers. This combination indicates that the recent downturn lacks sufficient buying support, raising concerns about the strength of Bitcoin’s current recovery. Featured image created with DALL-E, Chart from TradingView
BitcoinWorld Hong Kong Stablecoin License: Animoca Brands and Partners Make a Groundbreaking Move The world of digital finance is buzzing with exciting news! A groundbreaking collaboration has emerged, poised to shape the future of digital assets in Asia. Animoca Brands, a leader in Web3 and gaming, has joined forces with Standard Chartered Bank Hong Kong (SCBHK) and telecom giant HKT to form a new joint venture, Anchorpoint Financial. Their mission? To develop a regulated stablecoin business and, critically, to secure a Hong Kong stablecoin license . This strategic move marks a significant milestone for the region’s evolving crypto landscape. What is Anchorpoint Financial and Its Mission? Anchorpoint Financial represents a powerful alliance between diverse industry leaders. This joint venture brings together Animoca Brands’ deep expertise in blockchain and digital entertainment, SCBHK’s robust financial infrastructure and regulatory experience, and HKT’s extensive telecommunications network. Their collective goal is clear: to establish a compliant and innovative regulated stablecoin ecosystem within Hong Kong. The venture officially submitted its application for a stablecoin issuer license to the Hong Kong Monetary Authority (HKMA) on August 1. This date is significant because it coincided with the effective date of Hong Kong’s new Stablecoins Ordinance, signaling their readiness to operate within the new regulatory framework from day one. Why is a Hong Kong Stablecoin License So Crucial? Hong Kong has been proactively positioning itself as a global hub for virtual assets, and the introduction of its Stablecoins Ordinance is a testament to this ambition. Securing a Hong Kong stablecoin license under this new framework is not just a formality; it represents a stamp of approval, indicating adherence to stringent regulatory standards. This move can: Foster Trust: A regulated environment builds confidence among institutional and retail investors. Attract Investment: Clear rules attract more traditional financial players and capital into the digital asset space. Promote Stability: Regulated stablecoins are designed to maintain their peg, offering a more reliable medium for transactions and value storage. This proactive approach to digital asset regulation Hong Kong is setting a benchmark for other jurisdictions. How Does This Benefit Animoca Brands’ Vision? For Animoca Brands, this venture into regulated stablecoins is a natural, yet significant, evolution. Known for its extensive portfolio in blockchain gaming, NFTs, and the metaverse, Animoca Brands is now extending its influence into the foundational layer of Web3 finance. The development of an Animoca Brands stablecoin through Anchorpoint Financial can: Enhance Ecosystem Utility: Provide a stable, regulated currency for transactions within their vast Web3 ecosystem. Bridge Traditional Finance: Create a compliant on-ramp and off-ramp for users and businesses, connecting the crypto world with traditional banking. Drive Mainstream Adoption: By offering a regulated product, they can appeal to a broader audience who might be hesitant about unregulated cryptocurrencies. This strategic diversification reinforces Animoca Brands’ commitment to building a comprehensive digital future. What Challenges and Opportunities Lie Ahead for Anchorpoint Financial? While the prospect of a Hong Kong stablecoin license is exciting, Anchorpoint Financial will navigate various challenges and seize significant opportunities. The regulatory landscape, though clearer, will continue to evolve. Ensuring robust compliance, managing technological complexities, and building market adoption will be key. However, the opportunities are immense: First-Mover Advantage: Being among the first to secure a license in Hong Kong offers a significant competitive edge. Global Reach: A successful model in Hong Kong could serve as a blueprint for expansion into other regulated markets. Innovation Hub: The venture can become a hub for stablecoin innovation, exploring new use cases beyond basic transactions, such as decentralized finance (DeFi) and cross-border payments. Their success could pave the way for further institutional adoption of digital assets in the region. The formation of Anchorpoint Financial and its pursuit of a Hong Kong stablecoin license represents a pivotal moment for both the individual entities involved and the broader digital asset industry. This collaborative effort by Animoca Brands, SCBHK, and HKT highlights a growing trend: the convergence of traditional finance with innovative blockchain technology under clear regulatory guidance. As Hong Kong solidifies its position as a leading crypto hub with strong digital asset regulation Hong Kong , initiatives like this are crucial in fostering trust, driving adoption, and building a more robust and compliant digital economy. The future of regulated digital assets looks incredibly promising. Frequently Asked Questions (FAQs) 1. What is Anchorpoint Financial? Anchorpoint Financial is a joint venture formed by Animoca Brands, Standard Chartered Bank Hong Kong (SCBHK), and HKT. Its primary goal is to develop and operate a regulated stablecoin business in Hong Kong. 2. What is the significance of the Hong Kong Stablecoins Ordinance? The Stablecoins Ordinance is Hong Kong’s new regulatory framework for stablecoin issuers. It aims to provide clarity and oversight, ensuring consumer protection and financial stability within the digital asset space. Anchorpoint Financial submitted its license application on the day the ordinance took effect. 3. Why are Animoca Brands, SCBHK, and HKT collaborating on this? This collaboration brings together diverse strengths: Animoca Brands’ Web3 and blockchain expertise, SCBHK’s traditional financial infrastructure and regulatory experience, and HKT’s extensive telecom network. Together, they aim to build a robust and compliant stablecoin ecosystem. 4. What does a stablecoin license mean for users? A stablecoin license from the HKMA means that the stablecoin issuer operates under regulatory supervision. This can lead to increased trust, transparency, and stability for users, potentially reducing risks associated with unregulated digital assets. 5. How does this initiative contribute to Hong Kong’s crypto hub ambitions? By establishing a regulated stablecoin framework and attracting key players like Animoca Brands and Standard Chartered, Hong Kong reinforces its commitment to becoming a global hub for virtual assets. This fosters innovation, attracts investment, and sets a precedent for responsible digital asset development. Did you find this article insightful? Share this important news with your network on social media and help us spread awareness about the exciting developments in Hong Kong’s digital asset landscape! To learn more about the latest explore our article on key developments shaping the crypto market institutional adoption. This post Hong Kong Stablecoin License: Animoca Brands and Partners Make a Groundbreaking Move first appeared on BitcoinWorld and is written by Editorial Team