The post Why XRP is Going Up Today? appeared first on Coinpedia Fintech News While the broader crypto market remains largely flat with a negligible 0.13% uptick to $3.33 trillion, XRP has emerged as a standout performer. Defying market trends and legal overhangs from the Ripple vs SEC case, XRP price surged 3.24% intraday to hit $2.24. Curious about how XRP price could perform next? Then you need to stick to this piece of work, as I will be briefing you about why XRP is going up today. And will also give you a short-term price analysis. Top Reasons Why XRP Price Is Surging Today 1. Purpose XRP ETF Launch Boosts Exposure The launch of Canada’s first spot XRP ETF by Purpose Investments has opened new doors for traditional investors to gain regulated exposure to this token. Trading under XRPP (CAD‑hedged), XRPP.B (CAD), and XRPP.U (USD) on the Toronto Stock Exchange. The ETF is eligible for tax-advantaged accounts like TFSA and RRSP. Which significantly improves accessibility and demand. 2. On-Chain Metrics on the Rise A dramatic rise in XRP Ledger activity has been noted, with daily active addresses rising to 295,000 from a prior 3-month average of 35,000–40,000. This surge in user activity hints at growing interest and potential adoption, aligning with broader utility and sentiment growth. Source: Santiment 3. Whale Accumulation at Record Levels It is worth noting that the institutional and large investor confidence is evident, as over 2,700 wallets now hold 1 million or more tokens. We’ve not seen this level of whale accumulation in previous months, and it reflects growing conviction among high-net-worth players. XRP LIVE Chart: XRP price is currently changing hands at $2.24, up 3.24% in the past 24 hours, with a market cap of $132.37 billion and a 24-hour trading volume of $5.25 billion. The price has come to current levels after brushing an intraday high of $2.34 and a low of $2.18. The 4-hour chart indicates that XRP is now hovering just below a critical resistance zone between $2.35 and $2.40. I am confident that a successful breakout above this level could pave the way for a stronger upward move. Contrarily, immediate support lies between $2.12 and $2.14. Taking indicators and tools into account, Bollinger Bands suggest increased volatility, while the RSI reading of 54.70 reflects neutral momentum, though leaning slightly bullish. As long as XRP maintains support and demand continues to rise from ETF inflows and whale activity, the altcoin may test higher resistance levels in the near term. Keen on long-term price forecast? Read our Ripple XRP Price Prediction 2025, 2026-2030! FAQs How is XRP price performing today? Not directly. Despite ongoing legal delays, XRP’s surge is attributed more to the ETF launch, on-chain activity, and whale accumulation. What’s the next resistance level for XRP? The next key resistance zone is between $2.35 and $2.40, as indicated on the chart. Can XRP sustain this uptrend? If on-chain activity and institutional interest continue rising, and the ETF inflows remain strong, XRP may sustain or even extend gains above $2.40. What is XRP? XRP is a cryptocurrency, built on the XRP ledger, which is a decentralized open-source blockchain.
Onchain securities platform Fairmint has urged the United States Securities and Exchange Commission to adopt a blockchain-powered regulatory framework to modernize private equity markets. On June 16, Fairmint, which operates as an SEC-registered transfer agent and develops infrastructure for compliant onchain securities, submitted a comprehensive seven-point policy proposal to the SEC’s Crypto Task Force, outlining how blockchain technology can be used to replace outdated administrative systems in the $6 trillion U.S. private securities market. In its submission to SEC Chairman Paul Atkins and Commissioner Hester Peirce, Fairmint outlined operational challenges in private markets and proposed solutions that it claims can be implemented under current regulatory authority. Fairmint argues that much of the sector still operates on outdated infrastructure and relies on costly, spreadsheet-based systems with no native settlement capabilities, limiting efficiency and regulatory transparency. In contrast, public markets benefit from regulated infrastructure. The seven-part framework is expected to standardize infrastructure across transfer agents, provide real-time observability to regulators, and expand investor rights and access. Fairmint’s proposal begins with a push to unify private market infrastructure through protocol-level interoperability, aiming to eliminate the fragmented systems that currently burden transfer agents. To enhance regulatory oversight, it proposes blockchain-based observer nodes that would allow the SEC to monitor transactions in real time while preserving user privacy. Another key recommendation supports investor self-custody, enabling direct ownership of private securities with embedded compliance measures. You might also like: SEC scraps controversial rules targeting DeFi platforms and crypto custodians under Biden The proposal also challenges traditional investor qualification standards by advocating for a knowledge-based accreditation model, replacing outdated wealth thresholds with competency assessments. To support new types of market activity, Fairmint outlines a non-custodial broker-dealer structure for smart contract-based intermediation and encourages the creation of a supervised DeFi sandbox for controlled experimentation. Lastly, Fairmint recommends replacing traditional clearing systems with a direct settlement architecture powered by smart contracts to streamline settlement and reduce reliance on intermediaries. By adopting its proposed framework, Fairmint argues the SEC could enhance market integrity and reduce administrative burdens while enabling innovation through secure, onchain processes. With regulatory momentum building around digital assets, Fairmint is among a growing number of firms advocating for policy reform. Under the Trump administration, the SEC has recalibrated its regulatory strategy , marked by the establishment of a dedicated Crypto Task Force to explore new policy approaches and modernize oversight frameworks. Since its formation, the Crypto Task Force has actively sought industry feedback and held a series of regulatory roundtables with various stakeholders, focusing on areas such as tokenization, decentralized finance, and the application of existing securities laws to blockchain-based systems. Read more: Ripple and U.S. SEC jointly propose $125M settlement split to end XRP lawsuit
BitcoinWorld Shock Verdict: Haru Invest CEO Cleared in $645M Crypto Fraud Case in South Korea In a development that has sent ripples through the cryptocurrency community, especially among those affected by the platform’s suspension, the CEO of South Korean asset management platform Haru Invest has been acquitted of significant fraud charges. This court ruling is pivotal for understanding the legal landscape surrounding crypto operations in the region. What Happened with Haru Invest? Haru Invest was a prominent player in the crypto yield space, promising attractive returns on deposited digital assets. However, the platform abruptly halted withdrawals in June 2023, citing issues with a partner firm. This led to widespread panic and significant losses for many users, prompting investigations and legal action. The core of the allegations against the CEO, identified by the surname Lee, centered on whether the platform’s operational difficulties and subsequent halt of services constituted deliberate deception or fraudulent activity aimed at investors. The amount involved was substantial: 880 billion won, equivalent to approximately $645 million crypto fraud . The case has been closely watched as it highlights the risks associated with centralized crypto platforms and the complexities of applying existing laws to novel financial technologies. For many investors, the sudden inability to access their funds felt like a betrayal, leading to calls for accountability. Exploring the South Korea Crypto Legal Battle The legal proceedings took place in the Seoul Southern District Court. On June 17, the court delivered its verdict regarding the charges against the Haru Invest CEO. The prosecution had argued that the CEO and other executives intentionally misled investors about the safety and management of their funds, constituting criminal fraud under South Korean law. However, the court’s decision focused on the specific legal definition of criminal fraud. While acknowledging that there might have been negligence or operational failures on the part of the platform’s management, the court ruled that the evidence presented did not meet the threshold for proving intentional criminal deception. Key points from the court’s reasoning, as reported by local media, suggest a distinction was made between: Operational Negligence: Failures in managing funds, assessing partner risks, or communicating issues effectively. Criminal Fraud: Deliberately deceiving investors with the intent to cause financial loss from the outset or through calculated misrepresentation. The court determined that while negligence might have played a role in the platform’s collapse and investor losses, the actions did not constitute the specific intent required for a criminal fraud conviction under the relevant statutes. Implications of the Court Ruling for Crypto Regulation This court ruling has significant implications, particularly for the interpretation and enforcement of crypto regulation in South Korea crypto markets. It underscores the challenges legal systems face in classifying and prosecuting issues arising from the complex and often opaque world of digital asset management platforms. Challenges Highlighted by the Case: Defining Liability: Distinguishing between business failure due to poor management or external factors versus deliberate criminal intent. Investor Protection: How existing laws adequately protect investors in high-risk, rapidly evolving sectors like crypto yield platforms. Regulatory Clarity: The need for clearer legal frameworks specifically addressing digital asset services, investor disclosures, and platform responsibilities. While the CEO was found not guilty of criminal fraud, this does not resolve the situation for the affected investors. Civil lawsuits seeking to recover lost funds are likely to continue, and investigations into other executives or related entities might still be ongoing. The focus now shifts to potential civil liability and the broader regulatory response to prevent similar incidents. What’s Next for Haru Invest and Affected Investors? The verdict provides a degree of legal clarity regarding the CEO’s criminal culpability but leaves many questions unanswered for those who lost assets on the platform. The process of recovering funds, if possible, will likely be a long and complicated one, potentially involving bankruptcy proceedings or civil litigation against the company and potentially other individuals. For the wider South Korea crypto market, this case serves as a stark reminder of the risks in the decentralized (or pseudo-decentralized) finance space and the critical need for robust regulatory oversight. It may accelerate efforts by South Korean authorities to strengthen regulations governing virtual asset service providers (VASPs), focusing on transparency, asset segregation, and risk management. Actionable Insights for Crypto Users: Due Diligence: Thoroughly research any platform offering yield or investment services. Understand their business model, partners, and regulatory compliance. Risk Assessment: Be aware that high returns often come with high risks. Never invest more than you can afford to lose. Regulatory Awareness: Stay informed about the regulatory environment in your jurisdiction and where the platform is based. Diversification: Avoid concentrating all your assets on a single platform or strategy. The Haru Invest saga is far from over for its users, but the CEO’s acquittal in the criminal trial marks a significant point in the legal fallout, highlighting the nuances of prosecuting complex financial cases in the digital age. Summary: A Complex Verdict in the Crypto World The Seoul Southern District Court’s decision to find the Haru Invest CEO not guilty of the massive $645 million crypto fraud allegations is a complex outcome. While acknowledging potential negligence, the court found insufficient evidence for criminal intent, differentiating it from civil or operational liabilities. This ruling is crucial for understanding the current state of crypto regulation and legal interpretation in South Korea crypto markets. It underscores the ongoing challenges in protecting investors and defining accountability in the rapidly evolving digital asset landscape, pushing the conversation towards stronger regulatory frameworks and greater platform transparency. To learn more about the latest South Korea crypto trends, explore our article on key developments shaping crypto regulation and institutional adoption. This post Shock Verdict: Haru Invest CEO Cleared in $645M Crypto Fraud Case in South Korea first appeared on BitcoinWorld and is written by Editorial Team
Despite the “no more Bitcoin purchases” agreement it made with the International Monetary Fund (IMF) in December 2024, El Salvador has continued to purchase BTC daily, purchasing 240 new Bitcoins since then. The total amount of Bitcoin in the country’s treasury has thus reached 6,209. El Salvador, the first country in the world to recognize Bitcoin as legal tender, reached a $1.4 billion loan agreement with the IMF in December 2024. The agreement stipulated that Bitcoin would be stripped of its official currency status and that the government would halt Bitcoin purchases. However, President Nayib Bukele’s strategy of “buying one Bitcoin a day”, which he launched in 2022, continues. According to the El Salvador Bitcoin Office, a total of 240 more Bitcoins have been purchased since December 19, 2024 (following the IMF agreement). These purchases, calculated at approximately $106,658 each, amount to more than $25 million. Related News: XRP Experiences a First-Time Event in Its History - Unusual Data Coming In Rodrigo Valdes, Director of the IMF’s Western Hemisphere Department, stated at a press conference on April 26, 2025, that the country was still technically in compliance with the agreement: “El Salvador remains committed to not increasing its Bitcoin holdings within the financial sector.” Blockchain consultant Anndy Lian attributed this to the IMF’s flexible interpretation: “The IMF’s flexible interpretation of the agreement may allow these purchases to be made through non-governmental entities or reclassified assets, thus technically achieving compliance.” *This is not investment advice. Continue Reading: Following El Salvador’s Pledge Not to Purchase Bitcoin from the IMF, the Amount of BTC It Has Purchased Has Been Revealed
Zebec Network price appears poised for a reversal after breaking out of a bullish pattern as the price action begins to reflect recent developments on the fundamental front. Zebec Network ( ZBCN ) price recently broke out of a descending wedge pattern on the 4-hour chart. Following the breakout, the price briefly wicked to $0.0052 level before facing resistance and pulling back to $0.0044, retesting the breakout level. The price is now holding above a key long-term support formed by the upper trendline ascending from early May. The immediate resistance lies near the recent high around $0.0050–0.0052, while the immediate support is now near the $0.0043–0.0044, aligned with both the 20 EMA and the wedge’s upper boundary (which may now act as support). Source: TradingView Technically, the price is currently testing the 20-period EMA as support. The RSI has pulled back from the overbought levels following the breakout, and is currently around 50, suggesting neutral momentum. The RSI’s ability to stay above 50 will likely determine the next leg of the trend. The MACD line remains above the signal line, but histogram bars are turning smaller, which could hint at potential consolidation or a pause before the next move. To sum up, ZBCN price is currently in a cooling-off phase after a bullish breakout from a descending wedge pattern, often seen as a reversal setup. If the price holds above the EMA and the long-term ascending trendline, continuation toward $0.0052 and beyond is possible. A break below $0.0043 could invalidate the bullish structure and lead to deeper retracement. You might also like: Zebec Network acquires Gatenox to integrate native KYC, KYB, and AML into its payment infra The latest breakout coincided with Zebec Network’s recent announcement that it will reward Ripple ( XRP ) holders with over $50K in holdings on Uphold with ZBCN. While earlier speculation hinted at a possible collaboration with Ripple, no formal announcement has been made. This move also follows a series of strategic acquisitions, including Gatenox, a digital identity firm, and Science Card , a U.K.-based fintech with 50,000+ users. With the acquisition of Gatenox , Zebec Network aims to strengthen its regulatory positioning under the EU’s MiCA framework and with the UK’s FCA. After retracing nearly 50% from its May peak at $0.0073, Zebec Network price now appears to be catching up with these fundamentals — provided the current breakout confirms a true reversal. You might also like: Zebec Network price explodes after Science Card acquisition news
Total crypto market capitalization shed around $80 billion over a few hours late on Monday night as Middle East tensions escalated. It fell marginally to around $3.44 trillion as Bitcoin dipped by over $2,000 in a decline to around $106,500 before it immediately started to recover and reclaim $107,000 at the time of writing. The dip was caused by US President Donald Trump calling for the evacuation of Tehran as the exchange of missiles between Israel and Iran continued for a fourth day. Trump Leaves G7 Donald Trump departed the annual G7 meeting in Canada early, telling reporters, “I have to be back early for obvious reasons.” The POTUS also took to his Social Media platform to say that Iran should have signed his “deal” before adding that the country cannot have a nuclear weapon and “everyone should immediately evacuate Tehran.” TRUMP: “Everyone should immediately evacuate Tehran.” pic.twitter.com/vGygTxuFsg — The Kobeissi Letter (@KobeissiLetter) June 16, 2025 Meanwhile, other nations, including China and Russia, urged their citizens to evacuate Tel Aviv as the military action intensified. The message appeared orchestrated to increase pressure on Iran to come to the negotiating table amid a veiled threat of military intervention. “American forces are maintaining their defensive posture, and that has not changed. We will defend American interests,” White House spokesman Alex Pfeiffer wrote on X while disputing fake news that air strikes were imminent. Odds on the United States taking military action against Iran before the end of this month surged to 67% on blockchain prediction platform Polymarket. BREAKING: The U.S. is projected to take imminent military action against Iran. 67% chance. pic.twitter.com/Cqcy3OnBki — Polymarket (@Polymarket) June 16, 2025 Markets Disagree With WWIII A crypto market reaction of this minor magnitude is just another day on the field, which begs the question: Are digital assets becoming immune to geopolitical turmoil? In fact, crypto markets tanked twice as hard when the Trump and Elon Musk bromance collapsed on June 6. Meanwhile, other risk-on assets such as tech stocks are also weathering the storm at the moment. “If there were even a 50% chance of WW3 right now, the S&P 500 wouldn’t be 2% away from a new all-time high,” observed the Kobeissi Letter. At the time of writing, Bitcoin was still trading in the middle of its range-bound channel, where it has been since the beginning of May, and Ethereum had bounced off support at $2,500, so crypto markets are holding up pretty well, all things considered. The post Crypto Shows Immunity as Bitcoin Quickly Recovers From Tehran Tensions appeared first on CryptoPotato .
China’s most popular crypto card payment service, Infini, has declared to shut down all their card services and focusing more on financial management for the future. According to a Telegram notice , starting from June 17 all of Infini’s card payment services will be immediately cease to function. This means that their card-based payment products, such as Global Card, Lite Card, and Tech Card, will be suspended for both offline usage and on the Infini digital app. “We have decided to suspend our card services. Effective immediately, all card functions, will be suspended for both usage and new applications. We sincerely apologize for any inconvenience this may cause,” wrote the platform in a notice . Although the company does not mention the specific reason behind its card suspension, it reportedly plans to focus more on financial management in the future. The firm assured customers that all their core service will continue operating as usual. This means that services on the app like top-ups, withdrawal and yield functions remain fully operational despite the suspension of its payment cards. Users will be able to apply for card refunds in order to regain the funds from their now frozen cards. You might also like: Mastercard predicts it will tokenize 100% of transactions in EU by 2030 The platform will automatically process refunds for card application without users needing to take any manual action. The refund will be processed within 10 business days and the funds will be distributed to the user’s account balance. “Any ongoing bills will be refunded directly to your Infini account. These refunds are expected to be completed within 5 to 21 business days,” stated platform. Infini is a crypto-first neobank based in Hong Kong but it has a pretty big user base in China . Despite China’s long-standing ban on cryptocurrency, China mainland users are still able to access Infini services through VPN or other provider. The platform combines stablecoin yield generation with a crypto-backed debit card, offering easy real-world spending and everyday earnings. Infini has managed to gain more than 10,000 followers on X and reached over $50 million in total value locked across its global user base. Most recently in late February, Infini suffered a $50 million inseider exploit which involved an in-house engineer that allegedly embezzled funds from the platform for personal gain. Back in March, Infini founder Christian Li offered the hacker 20% of the bounty and legal immunity if they return the stolen funds. Read more: Infini Labs $50m heist a ‘textbook insider attack,’ says security expert
Cantor Fitzgerald has spotlighted Solana (SOL) as a compelling alternative to Ethereum in corporate treasury strategies, signaling a shift in blockchain asset preferences among public companies. Three firms—DeFi Development Corp.,
JPMorgan Chase has filed a trademark application for “JPMD,” hinting at a potential expansion of its digital asset strategy and stirring speculation about an upcoming stablecoin product. Filed with the U.S. Patent and Trademark Office on Sunday, the application outlines a broad suite of services including digital asset trading, exchange, transfers, clearing, and payment processing—all centered around blockchain-based infrastructure. Though the filing doesn’t explicitly mention the word “stablecoin,” the scope of services described suggests that JPMorgan may be laying the groundwork to move more of its financial operations onto blockchain rails. This has reignited conversations about a possible stablecoin initiative from the banking giant. JPMorgan Enters as Stablecoin Speculation Heats Up The timing of the trademark application follows closely on the heels of a May 22 Wall Street Journal report that revealed JPMorgan, Bank of America, and Wells Fargo were in early discussions to jointly issue a stablecoin . According to the report, the consortium aims to compete with existing crypto-native stablecoins and leverage blockchain to expedite domestic and cross-border payments. While details remain unconfirmed, many industry watchers believe the “JPMD” trademark could be linked to this stablecoin initiative. The report emphasized that major banks now view stablecoins as strategic tools to modernize their payment infrastructures and reclaim market share from crypto-native firms like Tether and Circle. JPMorgan, despite CEO Jamie Dimon’s repeated criticism of Bitcoin, has remained a front-runner in blockchain development. The bank’s blockchain division, Kinexy (formerly Onyx), has already processed over $1.5 trillion in interbank transactions using JPM Coin—a proprietary, permissioned stablecoin backed 1:1 by fiat currencies like the U.S. dollar, euro, and British pound. Regulatory Landscape Shifts in Favor The trademark filing also arrives as U.S. lawmakers push forward with the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins). The bill passed a key procedural vote in the Senate last week with a 68-30 margin, signaling broad bipartisan support. If approved by both chambers of Congress, the legislation would head to President Donald Trump’s desk for final approval. According to DeFiLlama, the total market capitalization of stablecoins currently stands at $251.7 billion, led by Tether (USDT) at $156.3 billion and Circle’s USDC at $61.3 billion. A new entrant backed by traditional financial giants could significantly reshape the landscape. The post JPMorgan Eyes Deeper Blockchain Integration With New “JPMD” Trademark Filing appeared first on TheCoinrise.com .
Matrixport’s recent daily chart analysis highlights that Bitcoin ETFs have garnered an impressive $11.2 billion in fresh inflows over the last eight weeks. Despite this substantial capital influx, Bitcoin’s price