As XRP Eyes Solid Run, Ripple CEO Lauds Trump’s Crypto Reserve Plan As Major Turning Point for Se...
Ripple CEO Brad Garlinghouse has praised former President Donald Trump’s proposal to create a government-backed digital asset reserve, which includes XRP, calling it a potential turning point for the cryptocurrency sector.
In a tweet on Sunday, Garlinghouse expressed optimism that the initiative could signal a shift in the industry, moving away from the regulatory hurdles that have long impeded its growth.
“I’ve said this before: the crypto industry will achieve its goals, and beyond, if we work together,” Garlinghouse stated, referencing Trump’s vision of making the U.S. the “Crypto Capital of the World.”
Garlinghouse’s comments even as the U.S. cryptocurrency market continues to grapple with ongoing regulatory challenges, especially as the SEC continues its legal actions against major players in the space, including Ripple, Kraken, and Pulsechain. However, as of March 3, the SEC had dropped cases against Coinbase and ConsenSys and paused proceedings against Binance and Tron while discussions on potential resolutions continue.
Despite these developments, the regulatory environment remains tense, especially following former SEC Chairman Gary Gensler’s departure. While Trump’s support for crypto is viewed as a positive sign, the industry still faces challenges due to controversial enforcement policies and a lack of clarity surrounding digital asset regulation.
Garlinghouse hoped that Trump’s proposal could help bridge the divide between the government and the crypto sector.
“I’m glad to see POTUS recognizing we live in a multichain world and that we’re finally moving past Bill Hinman and the Biden administration’s SEC’s outdated approach,” Garlinghouse added, emphasizing the need for a more modern and comprehensive regulatory framework.
The proposal aligns with broader efforts to address the evolving regulatory landscape for digital assets. Under SEC Commissioner Hester Peirce’s leadership, the agency has begun reevaluating its approach to crypto regulation, with some analysts predicting a shift away from the more stringent enforcement practices that marked Gary Gensler’s tenure.
Meanwhile, the ongoing legal battle between Ripple and the SEC remains a key focus point within the cryptocurrency industry. While the case has yet to resolve, many experts speculate that the SEC may ultimately choose to drop its charges against Ripple, particularly given the current ambiguity surrounding the application of the Howey Test in determining whether digital assets should be classified as securities.
On Sunday, legal analyst Jeremy Hogan suggested that the delay in resolving the case is likely due to the injunction imposed by Judge Torres, which prohibits Ripple from selling its digital assets directly to customers. Hogan noted that while he expects both parties to reach a mutual agreement to dissolve the injunction eventually, the process is complex. This, he explained, could be a key reason why the case may not be resolved until April or May.
Will Ethereum Price Crash to $1,000 or Is a Rebound Near?
Ethereum (ETH) has been on a sharp downward trajectory after reaching highs above $4,000. The price has now dropped below $2,100, leaving traders questioning whether the correction is nearing its end or if more pain is ahead. With increasing selling pressure and a weakening market structure, the big question remains—could ETH fall to $1,000, or is a strong recovery imminent?
This analysis will break down Ethereum’s key support and resistance levels, technical indicators, and potential price trajectory in the coming weeks.
Ethereum has been experiencing a continuous decline , forming lower highs and lower lows. After failing to hold above $3,500, the price sharply corrected, triggering increased selling pressure. ETH is currently testing a major support zone near $2,000, which has historically acted as a strong demand level.
The current market structure suggests that ETH is still in a bearish phase, with the downward momentum showing no clear signs of exhaustion yet. If Ethereum fails to hold above $2,000, a deeper correction toward $1,500-$1,600 could be the next step.
The $2,000 level is a significant support zone for ETH, as it has provided strong rebounds in the past. The last time Ethereum tested this area, buyers aggressively pushed the price back above $2,500, leading to a short-term relief rally.
However, if ETH breaks below $2,000, the next major support is around $1,500-$1,600, which was last tested during the 2023 bear market. A breakdown below this zone could increase the likelihood of Ethereum revisiting $1,200-$1,000, which would be a worst-case scenario for bulls.
The Relative Strength Index (RSI) is currently at 25, which is deep in oversold territory. Historically, RSI levels below 30 indicate that the asset is heavily sold and could be due for a short-term bounce. However, a sustained reversal will require ETH to regain key resistance levels and confirm bullish momentum.
The Heikin Ashi candles are still forming strong red bars, signaling that bearish pressure is dominant. For ETH to establish a trend reversal, it must print multiple green Heikin Ashi candles with increased volume.
While ETH price is currently sitting at crucial support , a break below $2,000 could lead to further downside. If Ethereum loses this key level, the first target would be $1,600-$1,500, and if market conditions deteriorate, a drop to $1,200-$1,000 could become a reality.
However, a direct crash to $1,000 seems unlikely unless the overall market sees extreme bearish sentiment, such as a significant Bitcoin correction or regulatory setbacks in the crypto space. For now, ETH still has chances to recover if bulls defend the $2,000 support zone.
For ETH price to regain bullish momentum , it must break key resistance levels, starting with $2,500-$2,600. A successful close above this range would indicate renewed buying interest and could push Ethereum toward $3,000 in the medium term.
However, as long as ETH remains below $2,500, the market structure remains bearish. A full-fledged recovery will require Ethereum to reclaim $3,200-$3,500, which was previously a critical support-turned-resistance level.
Ethereum is currently trading at a make-or-break level, with $2,000 acting as the last strong support before a potential deeper correction. Short-term traders might look for a bounce from this level, while long-term investors could consider accumulating ETH if it drops closer to $1,500-$1,600.
For now, ETH’s fate depends on whether it can hold $2,000 or if bears continue pushing it lower. Traders should watch for a confirmed breakout above $2,500 to signal a reversal, while a break below $1,800 could open doors for further declines.
A Billion-Dollar Crypto Liquidation Erupts in 24 Hours, Plunging Markets and Igniting Transparency Debates
The cryptocurrency market faced a large-scale sell-off, with over $1.08 billion in leveraged positions liquidated in the past 24 hours.
Traders betting on price increases lost nearly $498 million, while those in short positions accounted for $583.93 million. Ethereum (ETH), XRP, Cardano (ADA), and Solana (SOL) saw significant liquidations, rattling many crypto investors.
Data shows Bitcoin (BTC) led the liquidation wave with $415.11 million wiped out, followed by Ethereum at $190.82 million. XRP posted $96.50 million in liquidations, ADA $86.91 million, while SOL trailed closely with $86.76 million.
Notably, Binance accounted for the largest single liquidation event, where a BTC/USDT trade valued at $15.49 million was erased.
This volatile trading period has also sparked discussion about the proposed U.S. “Crypto Strategic Reserve.” One crypto observer criticized the selection of XRP, ADA, and SOL for the reserve, arguing that these tokens lack real-world utility.
Accusations surfaced, claiming XRP is mainly for insider selling, ADA’s founder might have connections to controversial individuals, and SOL has allowed pump-and-dump schemes in the memecoin space.
Related: FTX/Alameda Unstakes $432M in SOL Sending Tokens to Exchanges, Adds to SOL Price Pressure
Adding to the tension, crypto analyst Marty Party alleged that Binance offloaded its SOL and ETH holdings to settle its Department of Justice (DOJ) fines while making money from futures liquidations.
Even Bybit reportedly liquidated markets to recover lost ETH, only to buy it from retail investors at discounted prices. Such actions can reignite distrust toward centralized exchanges and spark calls for greater transparency.
The liquidation data issue continues to intensify, with Coinglass urging Binance to publicly disclose all liquidation metrics. Binance restricted liquidation data access in mid-2021, citing potential risks to its perpetual contract business.
Previously, former CEO Changpeng Zhao (CZ) had voiced concerns that too much transparency could attract regulatory attention and media-driven market manipulation. However, critics argue that data transparency is a fundamental blockchain principle that should not be compromised.
Related: SEC Goes All In on Crypto Task Force: Here’s the Complete List of Key Members
Despite skepticism, some traders remain optimistic. Supporters see the current market dip as a natural pause before a bullish rebound.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Space Token 社群媒體數據
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社群媒體資訊概況
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