Bitcoin is currently grappling with a crucial support region at the $80K mark, with sellers attempting to breach it. If a breakdown occurs, the asset’s next target will be the critical $75K level. Technical Analysis By Shayan The Daily Chart Bitcoin sellers have been struggling to maintain the significant support at the $80K price range, […] …

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XRP (XRP) price is eyeing a breakout from a classic chart pattern in the near future after Ripple acquired its first-ever license in the Middle East.

XRP price chart hints at possible 46% gains

XRP has been consolidating inside a descending triangle pattern since topping out at its seven-year high of $3.40 on Jan. 16. 

After finding support from the triangle’s horizontal line at $2.00, the XRP/USD pair has left behind a sequence of higher lows over the last four days to its upper trendline, as shown in the chart below.

XRP‘s price is now testing the triangle‘s upper trendline at $2.30, raising hopes of a daily candlestick close above this level.

If this happens, XRP could rally toward the $3.00 psychological level, a critical supplier congestion zone that has rejected the price twice in recent times.

A move past this level would push the price toward the next major resistance at $3.27 and later to the multi-year high at $3.40, amounting to a rise between 30% and 46%.

Meanwhile, popular crypto analyst CrediBull Crypto says XRP’s drop to sub-$2.00 levels provided a perfect entry for buyers, targeting profits around $3.40.

Manifest destiny. $XRP https://t.co/Pa2pKSbYHq pic.twitter.com/FyeWfMrw5z

— CrediBULL Crypto (@CredibleCrypto) March 14, 2025

Ripple secures Dubai license

On March 13, Ripple announced that it had secured approval from the Dubai Financial Services Authority, allowing it to offer regulated crypto payment services in the UAE.

Ripple has secured regulatory approval from the Dubai Financial Services Authority (DFSA), making us the first blockchain payments provider licensed in the DIFC. https://t.co/6oHWtnjODr

This milestone unlocks fully regulated cross-border crypto payments in the UAE, bringing…

— Ripple (@Ripple) March 13, 2025

This approval, Ripple’s first in the Middle East, will allow the payments company to tap into the UAE’s $40 billion remittance and $400 billion international trade markets.

Related: Price analysis 3/12: BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, LEO, HBAR

Following the announcement, XRP price gained 6% from a low of $2.21 to a high of $2.34 on March 11, reflecting market optimism.

“Ripple’s DFSA license in Dubai’s DIFC marks a game-changer, ” said popular commentator Vincent van Code in a March 13 post on X, adding that it positions the” company as a leader in regulated crypto payments across the UAE’s $40B cross-border market.”

“This could unlock massive potential for XRP, driving adoption and growth as blockchain transforms global finance.”

Ripple’s battle with SEC nears an end

Another potential catalyst for XRP price is the possible end of the SEC’s case against Ripple.

Ripple’s prolonged legal battle with the US Securities and Exchange Commission (SEC) since 2020 over allegations of unregistered XRP sales may be nearing a resolution.

The July 2023 ruling by Judge Torres, deeming XRP not a security for retail sales but fining Ripple $125 million for institutional violations, marked a turning point. Recent reports suggest both parties might drop their appeals, with Ripple negotiating better terms amid a perceived shift in SEC priorities under new leadership.

“The SECGov vs. Ripple case is in the process of wrapping up and could be over soon,” said Fox Business’s Eleanor Terret, citing two unmentioned sources.

Terret explained the SEC could be reconsidering its aggressive crypto enforcement, potentially aligning with a more lenient regulatory stance.

“The argument, I’m told, is that the new SEC leadership is wiping the enforcement slate clean for all previously targeted crypto firms because it believes regulatory clarity will resolve the underlying issue.”

As Cointelegraph reported, several cases against several crypto companies were dismissed in recent weeks, including Coinbase, Robinhood and Kraken, by the new SEC administration under acting Chair Mark Uyeda.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Learn MoreXRP price poised for 46% gains after Ripple secures first Dubai license

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The Arkansas Cryptomining Association is suing two Arkansas state officials, arguing that they enforced an unconstitutional and discriminatory state rule prohibiting foreign-born American citizens from engaging in crypto-mining activities, among other things.

The complaint was made against Arkansas Attorney General Tim Griffin and the director of the Arkansas Oil and Gas Commission, Lawrence Bengal, on March 13 in the US District Court Eastern District of Arkansas. 

It follows a federal court ruling last November that temporarily barred Arkansas from preventing a naturalized US citizen of Chinese descent from operating a crypto mining business.

The Arkansas state rules concerned are “Rule K” and “Act 174,” which prohibits foreign-party controlled businesses in the state.

Director Connor L. Kempton of the Arkansas Cryptomining Association said the vagueness of Rule K and Act 174 gives the defendants arbitrary and discriminatory enforcement powers, enabling them to grant or deny permits at their own discretion.

He said the application of Rule K and Act 174 is unconstitutional and can be discriminatory based on race, alienage and national origin, among other things.

Kempton noted that these rules were enforced against crypto mining firm Jones Eagle LLC, which is run by Qimin “Jimmy” Chen, a naturalized US citizen of Chinese origin.

Kempton specifically pointed to the Equal Protection Clause of the 14th Amendment of the US Constitution in arguing the illegality of Rule K and Act 174.

Related: Russia bans crypto mining for 6 years in 10 regions

The Equal Protection Clause similarly prohibits the US states from denying any person equal protection of the laws based on the person’s race, alienage or national origin. 

The crypto mining executive also argued that Rule K and Act 174 strip American citizens like Chen of due process rights under the 14th Amendment.

Kempton also said the prohibitions and penalties imposed under Act 174 infringe on the federal government’s authority to investigate, review and take action on foreign investments.

“Act 174 seeks to establish Arkansas’s own foreign policy, thereby intruding upon the federal government’s exclusive power to govern foreign affairs.”

District Court Judge Kristine G. Baker said on Dec. 9 that the Arkansas state officials were barred from enforcing Act 174 against Jones Eagle until further notice.

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US state Vermont has dropped its “show cause order” against crypto exchange Coinbase for allegedly offering unregistered securities to users through a staking service.

Vermont’s Department of Financial Regulation said in a March 13 order that in light of the US Securities and Exchange Commission tossing out its case on Feb. 28, it would follow suit and rescind its action against Coinbase without prejudice.

“The SEC has announced the formation of a new task force to, among other things, provide guidance for the promulgation of rules regarding the regulation of cryptocurrency products and services,” the department said.

“In light of the dismissal of the Federal Action and likelihood of new federal regulatory guidance, the Division believes it would be most efficient and in the best interests of justice to rescind the pending Show Cause Order, without prejudice.”

On the same day the SEC filed its lawsuit in June 2023, the US states of Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington and Wisconsin said they were launching legal proceedings against Coinbase.

The show cause order asserted that Coinbase was violating securities laws by offering staking to its users without a license and demanded the exchange provide a reason why the courts shouldn’t hit them with an order directing them to halt the service. 

Now that Vermont has opted out, Coinbase chief legal officer Paul Grewal said in a March 13 statement to X that the other states with staking actions should take a “page from Vermont’s playbook.”

“As we have always said: staking services are not securities. We applaud Vermont for embracing progress and providing clarity for its citizens who own digital assets,” he said.

“Our work isn’t over. Congress must seize the bipartisan momentum we’re seeing across the House and Senate to pass comprehensive legislation that takes into account the novel features of digital assets, such as staking,” he added.

Related: YouTuber says SEC will recommend dropping lawsuit over 2018 token ICO

A growing number of firms facing legal action from the SEC have had their cases dismissed in the wake of former SEC Chair Gary Gensler, who took a hardline stance toward crypto, resigning on Jan. 20.

Crypto trading firm Cumberland DRW was among the latest to have its case dropped on March 4, while the regulator is reportedly wrapping up its enforcement action against Ripple Labs after more than four years.

Grewal has also launched a request under the Freedom of Information Act to find out how many enforcement actions were brought against crypto firms under Gensler’s tenure between April 17, 2021, and Jan. 20, 2025, and the cost to the taxpayer. 

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March has so far been an extremely volatile month for Bitcoin, with the past 13 days recording sharp price swings ranging between $95,000 and $78,000. However, despite these fluctuations, liquidity played a key role in stabilizing the market, particularly by minimizing the duration of price dips below $80,000. Market depth, a critical liquidity metric, measures […]

The post Deep liquidity cushioned Bitcoin’s price during March volatility appeared first on CryptoSlate.

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Learn MoreDeep liquidity cushioned Bitcoin’s price during March volatility