XRP is often criticized for “not having a use case,” yet it remains a top performer in the current bull market. Why? Key takeaways: XRP gained 30% in the past week, boosted by rising institutional interest and deep trading liquidity, now the third-largest crypto by market cap. Ripple’s alignment with ISO 20022, a new financial messaging standard, and its stablecoin (RLUSD) support a pivot toward real-world financial integration. Read more
Though the House of Representatives may soon be able to consider the three bills, President Donald Trump didn’t get all Republicans to fall in line to support the legislation. The US House of Representatives has cleared the way for three Republican-led crypto bills to be considered in the chamber after a failed vote on Tuesday. In a Wednesday floor vote in the House, lawmakers voted 215-211 in favor of a resolution to reconsider a package with bills to regulate payment stablecoins, establish crypto market structure and restrict the development of a US central bank digital currency (CBDC). The passage could lead to amendments to the bills and votes on the legislation itself soon as part of Republicans’ plans to pass them before Congress breaks for an August recess. Read more
Bank of America and other legacy financial institutions have been increasingly associated with stablecoins amid the growing push for regulatory clarity. Bank of America is in the early stages of exploring stablecoins, aiming to leverage blockchain technology to enhance its payment infrastructure. During the bank’s second-quarter earnings call, CEO Brian Moynihan addressed questions about BoA’s stablecoin strategy, noting that the initial focus is “on stablecoins as a transactional device.” Stablecoin-based payment rails could help BoA move the trillions of dollars in client assets that flow through its systems each day. Read more
Bitcoin price action coils beneath an increasingly thick cloud of liquidity as PPI inflation cools beyond expectations in June. Key points: Bitcoin price targets include taking liquidity at around the $120,000 mark. US PPI inflation cools beyond expectations, providing relief after the hot CPI print the day prior. Read more