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CME to launch XRP futures in May: Is XRP headed for a bullish breakout?

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  • XRP maintains a bullish structure with potential consolidation ahead.
  • CME Group to launch Ripple futures in May, boosting institutional interest.
  • Ripple’s legal clarity and global partnerships reinforce XRP’s appeal.

XRP, currently trading at $2.18 as of now, has portrayed sturdy price action amid some modest volatility over the last 24 hours. Its trading volumes have dipped modestly by 9.23% to about $4.27 billion, yet the currency’s price has managed to register a 6.27% growth in the last seven days, holding firm over critical support levels at about $2.08.

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Source: Coinmarketcap

XRP’s chart continues to be largely bullish, backed by high-quality institutional volume and high liquidity levels. Technical indicators also support the positive sentiment: the Relative Strength Index (RSI) at 63.33 indicates space for the potential to move upwards without reaching the overbought zone, and the Moving Average Convergence Divergence (MACD) indicates near-convergence to zero, and hence the possibility of a breakout phase. Also, the reading of the Average Directional Index (ADX) at 83.3 indicates a dominant underlying trend.

Traders who focus on XRP could target long positions on the pullbacks into the $2.14-$2.17 band, with the risk/reward in play at the strategic entry of $2.27 aiming for a short-term price target of $2.34. Volume metrics and liquidity scores also imply that such conditions in the market support ongoing buying pressure with little in the way of downside volatility.

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Source: X

CME group to start XRP futures on May 19

The Chicago Mercantile Exchange (CME) Group will be launching XRP futures on May 19, a major landmark in the institutional acceptance of the cryptocurrency. The introduction of the Ripple futures will make XRP the fourth cryptocurrency to be listed on the CME’s derivative platform, joining the likes of Bitcoin, Ethereum, and Solana. The futures will be cash-settled and will be based on the CME CF XRP-Dollar Reference Rate, computed on a daily basis.

Two contract sizes will be made available, the micro contract for 2,500 XRP and the standard contract at 50,000 Ripple. The action follows increasing institutional investors’ appetite for multi-asset crypto exposure and tools to manage risk. Giovanni Vicioso, CME’s crypto products head, highlights investors’ desire to diversify digital asset holdings to go beyond major cryptocurrencies.

XRP’s addition to CME’s portfolio comes after Ripple Labs’ deepening cooperation with major financial institutions, including MoneyGram and Santander. Also, Ripple’s settlement of charges by the U.S. Securities and Exchange Commission (SEC), the softening of fines and presumably the resolution of regulatory doubts, pushed the timeline for the release of such a futures product earlier.

XRP price prediction for April 2025

Looking forward, XRP technical predictions indicate a price spectrum with a minimum of $1.84 and a possible high of $2.27 by 2025, averaging a price of about $2.69, representing a relatively modest return on investment of about 4.1%. For April of 2025, projections cite Ripple to trade from $2.12 to $2.57, averaging $2.35, representing a possible 17.9% return on investment.

Traders should take long positions on the pulls back to the $2.14–$2.17 support area, with tight stop losses below $2.17. Alternatively, a breakout above $2.27 that has been confirmed could present desirable risk-reward scenarios, aiming at levels close to $2.34. Existing liquidity and volume proportions make the possibility of larger position sizes viable while reducing the threats from the down side.

Bitcoin Futures Open Interest Jumps Alongside 3X Spot Volume Surge

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  • Bitcoin futures Open Interest surged by $2.4 billion in 36 hours — the largest spike since last month.
  • BTC spot volume nearly tripled, jumping from $2.9 billion to $8 billion, showing a wave of renewed investor interest.
  • Over 104,000 traders liquidated, with total liquidation hitting $266 million in 24 hours.

The futures Open Interest (OI) for Bitcoin (BTC) has been on the rise in the last 24 hours, according to data from the leading on-chain analytics platform, Glassnode. The OI climbed from $36.2 billion yesterday to $38.6 billion at the time of writing.

This addition of $2.4 billion within 36 hours represents the biggest rise in the coin’s Open Interest since late last month. This sharp rise suggests increased activity in the BTC futures market and derivatives positions.

The OI metric is the number of active futures positions that are yet to be closed. If this metric is rising, there’s fresh fund inflow into the asset’s market, suggesting that it is likely that the asset will maintain its current price trend.

Meanwhile, analysts warn traders to be careful. They explained that when there’s a rise in O1, there can be massive price changes around major market events.

Open Interest rises. Source: Glassnode

Spot Bitcoin Market Volume Triples Amid Renewed Market Interest

In addition to the rising market momentum, Glassnode also noted a massive rise in BTC spot volume. Within the same period, the spot volume for Bitcoin rose from $2.9 billion to $8 billion, a near three times increase.

The sharp increase in Open Interest and the massive funds inflow into the Bitcoin spot market indicate renewed growing interest in the leading cryptocurrency. The combination of these factors also reveals an increasing conviction among market participants.

Usually, increases in spot volume mean that there are a lot of direct buy and sell activities for BTC, while the rise in Open Interest suggests that there are a lot of positions being opened. Analysts predict that the combination of these factors could be the start of a strong price rally for the popular digital asset.

Day traders will be monitoring the charts to see if this period of increased activity results in a stable price direction for the leading cryptocurrency.

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Spot volume rises. Source: Glassnode

Bitcoin currently trades at $88,447, according to Coingecko data, having gained 1.3% in the last 24 hours. Meanwhile, liquidation data from Coinglass shows that 104,645 traders were liquidated within the last day, with a total liquidation of $266.08 million.

The data also noted that the largest single liquidation order was $2.65 million, and it happened with the ETH/USDT pair on Bybit.

HBAR Forms Bullish Patterns, Targets $0.335 and $0.525 in Breakout Move

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  • HBAR rebounds from $0.1262 and holds strong above key support at $0.120
  • Falling wedge and bull pennant patterns suggest a potential breakout toward $0.335 and $0.525
  • RSI bullish divergence and declining volume hint at weakening selling pressure
  • Key levels to watch include $0.180 resistance and the supply zone between $0.320 and $0.460

Hedera (HBAR) has caught the attention with promising technical patterns signaling a potential price surge. Hedera is holding strong above its crucial support level and aiming to test resistance to start its upward journey.

HBAR recently hit its low at $0.1262, triggered by market volatility, but was able to hold support and strongly rebound from this level. As of now, Hedera is trading at $0.1655 with a 24-hour trading volume of $107.42M and a market cap of $6.99B.

HBAR 1M graph coinmarketcap
Source: CoinMarketcap

HBAR Eyes $0.335 and $0.525 Target

Despite these short-term pullbacks, Hedera is poised to surge significantly. From a technical point of view, HBAR is in a falling wedge and bull pennant formation, both classic bullish setups that could drive significant upward momentum in April 2025.

The falling wedge, a reversal pattern, has been forming over months of correction following HBAR’s strong rally in late 2024. Accompanied by declining volume and a bullish RSI divergence, this setup suggests waning seller pressure. If a breakout occurs, the measured target for the falling wedge points to $0.335, a substantial increase from its current trading range.

Alternatively, the bull pennant, a continuation pattern, could propel HBAR to an even higher target of $0.525, reflecting the strength of its prior impulse wave. These projections align with technical analysis, which notes that bullish pennants often signal a continuation of uptrends, with breakouts typically occurring above the upper trendline.

image 186 1

Key levels to watch include the $0.120 support, reinforced by a high volume node (HVN) and the 0.786 Fibonacci retracement, and the $0.180 resistance, a prior swing high. Beyond that, HBAR may face hurdles between $0.320 and $0.460, a monthly supply zone active since March 2021.

For crypto investors searching for opportunities, HBAR’s current setup presents a compelling case. Monitoring the $0.120 support and RSI breakout confirmation will be crucial for timing entries. As the crypto market evolves, Hedera’s ability to balance technical promise with ecosystem growth will determine if it can reclaim its bullish momentum in 2025.

Read More: Algorand (ALGO) Breaks Out with Bullish Momentum, Eyes $0.30 and Higher

Kraken Introduces Forex Perpetual Futures to Expand Trading Options

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  • Kraken launches forex perpetual futures with 20x leverage on major currency pairs.
  • EUR/USD and GBP/USD contracts allow 24/7 trading on the Kraken Pro platform.
  • Kraken’s forex push expands its product offerings, blending crypto and TradFi.

Cryptocurrency exchange Kraken introduced forex perpetual futures (FX perps) on its Kraken Pro platform on April 18 to expand its product range. This move offers product expansion to deliver global currency market access for traders as it establishes itself as a marketplace for digital and traditional financial products.

New Forex Perpetual Futures Contracts

The first two forex perpetual futures contracts launched on the crypto exchange are EUR/USD and GBP/USD pairs. These contracts allow traders to leverage up to 20x and trade without expiry dates, making them distinct from traditional futures contracts, which are typically settled by a deadline. This offering enables traders to hold positions indefinitely without rolling or settlement.

The contracts’ values are based on DxFeed’s Composite Forex Index, so prices stay updated when forex markets are open in real time. The Kraken Pro platform now allows advanced clients who use its professional trading features and tools to trade these contracts 24/7.

Expanding Beyond Crypto: Kraken’s Strategic Push

The company’s entrance into the forex market follows several other attempts to merge the distinction between cryptocurrency and traditional financial markets. Forex spot trading was rolled out on the platform in March 2020 as a global product offering available to clients worldwide, except for the US.

As part of its broader plan, the exchange made a significant acquisition by purchasing retail futures trading platform NinjaTrader for $1.5 billion. Kraken anticipates finalizing its acquisition in 2025 to enable the company to provide crypto futures trading to U.S. resident investors.

In addition, the exchange partnered with Mastercard to release digital payment cards and initiated stock and ETF trading options in selected U.S. states in mid April 2025. By expanding its product offering, the crypto exchange demonstrates its goal to provide users with a broad range of financial products that extend outside of cryptocurrency markets. Furthermore, the company plans to launch its IPO in early 2026 as it explores opportunities to become a publicly traded entity.

The Future of Kraken’s FX Perp Products

The crypto exchange’s move is a part of its ongoing efforts to offer diverse products to attract new traders from across various asset classes, as well as the launch of the Forex perpetual futures. ‘This expands the number of opportunities for Kraken clients to capture value across a wider range of asset classes, all from one platform.’ Head of Derivatives Alexia Theodorou said.

The FX Spot markets on the crypto exchange saw $5.4 billion in trades in 2024, with EUR/USD and GBP/USD pairs contributing $3.5 billion of the total volume. The company plans to enhance its FX perpetual contracts and geographical market expansion to reach more customer markets in the future.

Dogecoin Open Interest Rises to $1.55B; DOGE Price Rises

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  • The rise in the Dogecoin open interest to $1.55B suggests increased trader activity and buying pressure.
  • Technical indicators on the 1-day chart show bullish signals, with the MACD and signal lines displaying a bullish crossover.
  • DOGE remains in consolidation between $0.15 and $0.17 amid uncertainty in the overall financial markets.

Coinglass data shows that open interest (OI) in the leading memecoin, Dogecoin (DOGE) reached $1.55 billion over the past 24 hours. The open interest is the number of active futures contracts yet to be settled.

The data further showed that the $1.55 billion in open interest represents a 1.39% rise in the last day. The rise in DOGE price confirms the buying pressure in the coin’s derivatives markets.

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Dogecoin open interest. Source: Coinglass

With uncertainty in the broader financial markets due to various reasons, the cryptocurrency market continues to experience a rise in volatility. Such reasons include a rise in inflation rates, which have remained above central bank levels, and the risks of recession in certain economies.

Hence, there has been a drop in fund inflows into the digital asset ecosystem. Also, there has been a slowdown in the growth of the stablecoin market.

Dogecoin displays Short-Term Bullish Signals

At the time of writing, DOGE price is up 1.1% in the last 24 hours and trades at $0.158, according to Coingecko data. Dogecoin price is in recovery after recording a drop in price in the last three days.

DOGE hasn’t recorded any significant price changes since the start of the week. It has continued to trade between $0.15 and $0.17 during this period.

However, the rise in open interest and buying momentum suggests that DOGE traders may have found clarity in the markets. Meanwhile, the daily chart on the Tradingview platform shows that there are bullish signals for the memecoin.

The MACD line has crossed over the signal line, while the histogram bars are green. However, the value of its relative strength index (RSI) is 45.89, which suggests that bullish momentum is not that strong.

The RSI further suggests rising buying pressure as it is increasing from below 40. But it is yet to cross the neutral 50 level.

Hence, the DOGE price still remains in consolidation for now.

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DOGE daily price chart. Source: TradingView

TRUMP on the Edge? A Drop to $8 Looms if This Key Level Fails

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  • TRUMP could drop to $8 if it loses the $10 support level, says Ali Martinez.
  • The resistance level for TRUMP is between $10.700 and $11.500, while it is currently trading at $10.163 (down 2.62%).
  • Similar to the broader market, this token has been volatile in the last 12 hours.

A critical price analysis of the TRUMP token has been provided by Ali Martinez, a renowned cryptocurrency analyst. In a post on X, Martinez shared a chart showing the cryptocurrency’s price action on the Binance exchange. 

The chart indicates that the token’s price below the $10 support could trigger a downward trend, bringing the token’s price to $8. 

Potential Breakdown Signals a Critical Moment for TRUMP

Martinez’s chart shows a TRUMP/USDT perpetual contract on a four-hour time frame, with important support and resistance levels. It also shows that the memecoin’s price has been trading within a particular range, with the most recent price being $10.163, down 2.62% in the last session.

The token’s high in the last 24 hours was $10.668, followed by the low for today at $10.137, pointing to a narrow trading range as traders await the next movement. A rally in TRUMP once happened, and it caused the price to move above $12.500. 

However, the token encountered strong resistance, which caused its price to retrace significantly. During the decline, the price first consolidated around $11.500, then broke down toward the $10.700 support.

The price has further declined because of the continued bearish pressure, now hovering around the critical $10 support level. As Martinez warns, if this level does not hold, TRUMP might fall towards another support level around $8; it also risks falling further below it.

Will Buyers Defend $10 or Give Way to Bears?

TRUMP has been closely watched by market participants to see whether it can maintain this position or if selling pressure will bring its price lower. If bearish momentum strengthens, stop losses will be triggered all around, playing out like a slope and dropping the market to the next major support zone. 

However, a strong rebound from this level could indicate another attempt to break the $11.500 resistance.

eToro Files for Nasdaq IPO as Crypto Revenues Surge to $12.6B in 2024

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  • eToro’s 2024 revenue hit $12.6B with 96% coming from cryptocurrency trading
  • eToro targets a $5B valuation in its Nasdaq IPO after scrapping a 2021 SPAC deal
  • Crypto trading surged driving eToro’s net income to $192M in 2024 up from $15.3M

Israel-headquartered multi-asset trading platform, eToro, made a registration statement that the company aims to list on the Nasdaq Global Select Market under the ticker symbol “ETOR.” The registration statement was filed to the US Securities and Exchange Commission on the 24th of March, 2025. This marks a new attempt by eToro to go for an IPO after a merger deal with a SPAC planned in 2021 was called off due to unfavorable market conditions.

According to its filing, eToro aims to raise between $300 million and $400 million, with an estimated valuation of up to $5 billion. This valuation remains below the $10.4 billion target from its previous SPAC attempt. Goldman Sachs, Jefferies, UBS, and Citigroup will underwrite the offering.

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eToro Files for Nasdaq IPO as Crypto Revenues Surge to $12.6B in 2024 10

Founded in 2007 by Yoni and Ronen Assia, eToro enables users to trade stocks, cryptocurrencies, and commodities. Through social trading investors can replicate trades made by qualified users on the platform. The platform is one of the earliest regulated European platforms and has enabled Bitcoin trading since 2013.

Crypto Revenues Dominate as eToro Posts Strong Financials

The IPO filing reveals significant growth in 2024, with total revenue reaching $12.6 billion, up sharply from previous years. Notably, cryptocurrency trading accounted for 96% of the revenue, contributing $12.1 billion—an increase from $3.4 billion in 2023. Net income rose significantly to $192 million in 2024, compared to $15.3 million the year before.

Retail trading activity soared throughout 2024, supported by a recovering equities market, easing recession concerns, and optimism about Federal Reserve rate cuts. Platforms like eToro benefited from renewed interest by individual investors, especially in cryptocurrencies and speculative assets.

Commission income rose to $931 million in 2024, up from $639 million in 2023. These numbers reflect strong market engagement and position eToro as a leading crypto and equity trading player.

IPO Marks Strategic Expansion Amid Growing Retail Demand

Launching a U.S. IPO at the company supports its strategic initiative to gain a broader group of investors beyond existing primary markets. CEO Yoni Assia confirmed that public listing in the United States would bring better trading liquidity and market visibility to the company despite the UK market representing its biggest customer base.

In 2023, eToro generated $250 million through funding at a $3.5 billion valuation. The company expects its valuation to increase beyond this number due to fresh IPO interest accessible in 2025. According to industry analysts companies’ decisions to pursue IPOs stem from positive economic factors combined with renewed investor willingness to take risks.

Bybit Halts Crypto Trading in India to Comply with New Regulations

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  • Bybit suspends crypto trading in India starting Jan 12 to comply with local regulations.
  • Indian users face restricted services on Bybit as it awaits FIU registration approval.
  • Bybit’s suspension follows a broader regulatory crackdown on crypto exchanges in India.

One of the leading crypto trading platforms, Bybit, has temporarily suspended trading services in India due to ongoing regulatory changes. The suspension will take effect on January 12, 2025, at 8:00 a.m. UTC, as part of the company’s measures to abide by Indian regulations.

Trading Restrictions and Service Updates for Indian Users

Bybit offerings will temporarily be limited for its Indian users. Some of the services suspended are cryptocurrency trading, opening new accounts, and placing new orders on its trading products. To enhance transparency and compliance, the platform will disable INR listings for peer-to-peer trading and halt trading bots by January 13, 2025. These changes will also include the cancellation of copy-trading relationships.

Users ‘ existing derivatives positions will be placed in “close-only” mode, allowing them to manage and close their positions but not open new ones or modify the existing ones. However, Bybit was clear that withdrawals would not be impacted by the suspension, meaning users’ funds would remain accessible during the suspension.

The company reiterated its commitment to abiding by Indian regulations. It revealed its intention to complete the Virtual Digital Asset Service Provider (VASP) registration with India’s Financial Intelligence Unit in the next few weeks.

Regulatory Challenges 

This suspension in India is the latest regulatory issue Bybit has encountered. The exchange shut its operations in France in August 2024 under pressure from the French authorities. The platform also stressed that it continues to work to obtain the licenses it needs to resume its services in the country.

Likewise, the crypto trading platform left Canada in May 2023 and stopped its operations in the United Kingdom by September 2023. More recently, due to improper registration, the Malaysian Securities Commission asked Bybit to leave in December 2024. Bybit complied with the directive shortly after its issuance.

Commitment to Regulatory Compliance

Bybit assured its clients that it would continue engaging the relevant authorities to ensure the platform complied with evolving global policies and regulations. The company also informed Indian users that once it has registered with the Financial Intelligence Unit, it plans to open all of its services. 

The actions of Bybit demonstrate the further steps in striving to operate in the regulatory landscape and seek to address the regulators’ concerns to remain one of the leading cryptocurrency trading sites. Although the suspension is for a short period, it serves as a sign that cryptocurrency exchanges around the globe are facing regulatory pressure.

$3B Cryptocurrency Trader Who Still Lives With Parents: Details

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According to public documents, a 25-year-old cryptocurrency trader operated his crypto empire from the comfort of his parents’ Sydney, Australia, home in 2021, transacting approximately $2 billion (3 billion Australian dollars) worth of cryptocurrency.

Darren Nguyen, the young gun in question, has not publicly discussed the success of his modest trading company, PO Street Capital, but a Jan. 2 report in The Australian exposed it through public records.

Nguyen’s cryptocurrency business, which is registered at his parents’ home in Guildford, Sydney, generated an after-tax profit of AU$10.41 million for the fiscal year that ended on June 30, 2021, according to documents submitted to the Australian Securities and Investments Commission (ASIC).

This resulted from cryptocurrency trades for a total of $2.98 billion over the course of a year.

It was a significant increase over Nguyen’s earnings in the prior year, which came to about AU$692,182 in 2020.

The figures reveal his net profit climbed by 1,404.12% in 2021 compared to the prior year, according to the accountants for PO Street Capital.

In June 2021, PO Street Capital reportedly had AU$4.3 million in short-term contingencies and a AU$1.3 million loan company was repaying to Nguyen, but no additional debts were recorded on its books.

In addition, Nguyen received dividends from the year’s profits of AU$873,200.

Although The Australian didn’t factor in leveraged trading, which is believed to have been a major factor in the overstated trading volumes, their story implied that PO Street Capital was self-funded to execute such a high quantity of trades at AU$3 billion.

Cryptocurrency Trader’s Family Does Not Spill The Beans

The Nguyen family has remained mute regarding the cryptocurrency trading operation that Nguyen runs, and his mother has refrained from sharing any information regarding the trading activities that took place inside of her home.

Nguyen has also kept quiet about the company, including his trading methods and the results of PO Street Capital’s most recent fiscal year, which ended on June 30.

Notably, between July 1, 2020, and June 30, 2021, the price of cryptocurrencies rose dramatically, paralleling PO Street Capital’s dramatic performance improvement in 2021. For instance, according to data from CoinGecko, the value of Bitcoin and Ether each increased by 296% and 865% over that time.

It is unknown how the recent decline in the markets has affected Nguyen and PO Street Capital.

Argentina’s Banking Giant Welcomes Crypto Trading

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Argentina’s largest private bank Banco Galicia with a market cap of nearly $1.3 billion, has finally added the option to trade cryptocurrencies on its platform. As per a Monday announcement, the financial firm will allow users to buy and sell Bitcoin [BTC], Ether [ETH], USDC, and XRP.

Banco Galicia has collaborated with Lirium, a Liechtenstein-based crypto product for digital wallets and mobile banking apps.

Sources also revealed that for the time being it is offering users the ability to buy and sell crypto, but not allowing them to withdraw or send crypto, Lirium COO Martin Kopacz said, adding that the bank also offers a custody feature.

Banco Galicia plans to launch the service to all of its customers by mid-May, Kopacz noted.

Stakeholders lending support to Argentina’s biggest crypto development

In order to facilitate crypto trading and custody service, Lirium has partnered with OSL, a Hong Kong-based digital asset trading platform that began operating in Latin America last October.

Lirium is also working with four Argentinian financial institutions that plan to unveil a crypto trading service, Kopacz said, without disclosing dates. Apart from that, Lirium is working on similar integrations in Brazil and Mexico, according to Kopacz.

Reasons behind Argentina’s exponential crypto growth

In frontier markets like Argentina, cryptocurrency has skyrocketed. The nation marred by an unstable financial system and strong government intervention in the country’s economy has driven Argentines to seek solace in digital assets, according to a new report from the BBC.

The highly volatile Argentine peso, the country’s national currency, has been subjected to a range of financial controls that make the everyday citizens’ basic life essentials like buying and investing with the currency, increasingly difficult.

Amid this chaos and uncertainty, cryptocurrency has enjoyed a steady boon. Data from Chainalysis showed that Argentines earned $1.86 billion in cryptocurrency in 2021.

So far, the government has taken a relaxed attitude to the cryptocurrency boom. Recently it rolled out a so-called “innovation hub” to bolster fintech and cryptocurrency startups in a regulated manner.

The latest addition by the country’s largest bank to allow crypto is certainly a good start towards encouraging user adoption.