💰 ATH Vibes for XRP While Critics Roast New Crypto Laws 🚀

📰 News

🚨 “Decentralized Ponzi Scheme”- Gold Bug Peter Schiff Slams Landmark Crypto Bills

Peter Schiff Calls Crypto Bills “A Legislative Low Point”

US President Donald Trump signed the GENIUS Act into law on Friday, along with passing two other “Crypto bills,” aka CLARITY Act, anti-CBDC Act. Although some lawmakers and the crypto community called it a landmark moment for the digital assets industry, Peter Schiff has slammed the Trump administration.

Schiff believes that the primary purpose behind these bills is to boost legitimacy for Bitcoin, describing it as “decentralized Ponzi scheme”. According to the critic, these legislative efforts are being leveraged to inflate hype around Bitcoin and other digital assets. “The industry is using them to hype Bitcoin and other cryptos so insiders can cash out at higher prices. It’s a legislative low point,” wrote Schiff.

A day before, US President Donald Trump also talked of signing an executive order to facilitate 401K retirement investment in Bitcoin and crypto. Schiff believes that such a promotion for digital assets would only accelerate the collapse of US dollar. “Bitcoiners may cheer, as most bought Bitcoin to profit from a dollar crash. But ironically, gold will be the winner as Bitcoin will crash too,” he added.

Key Takeaways:

• Trump signs GENIUS, CLARITY, and Anti-CBDC Acts into law

• Peter Schiff calls it a move to legitimize a “decentralized Ponzi scheme”

• Says insiders will use the hype to cash out

• Labels it a legislative low point

• Warns 401K crypto push could speed up dollar collapse

• Predicts gold will win as Bitcoin crashes too

💰 Why Is Ripple Vs SEC Settlement Delaying?

What Delays the XRP Lawsuit Settlement?

Amidst anticipation of the XRP lawsuit settlement, a new twist emerged regarding the possible reasons behind the delay. After the July 17 closed-door meeting failed to yield the expected outcome, the community began scrutinising the reasons behind the delay.

Meanwhile, Marc Fagel dismissed speculation that ongoing negotiations between the SEC and Ripple are driving the delay, despite previous agreements between the two parties. In an X post, “That’s not the cause for delay.” He further shed light on the potential cause of the XRP lawsuit settlement delay, citing internal SEC procedures, including drafting action memos, division reviews, and scheduling commissioner votes, as the likely culprit. His statement read,

“That’s not the cause for delay. The staff needs to draft its action memo. It needs to be reviewed by the divisions and calendared for a commissioner vote. But please, keep lecturing a former senior SEC official about SEC procedures.”

Previously, as reported by CoinGape, Fagel dismissed rumors that Judge Torres or the SEC was delaying the case. He noted, “Nobody is holding up the case.” His latest tweet reiterates the idea that the settlement is delayed due to internal procedures, not deliberate actions.

Key Takeaways:

• July 17 meeting yielded no settlement, raising community concerns over delays.

• Marc Fagel, former SEC official, dismissed rumors that Ripple-SEC negotiations are behind the delay.

• Fagel points to internal SEC procedures—drafting action memos, division reviews, and scheduling commissioner votes—as the real reason for the delay.

• He reiterated that neither Judge Torres nor the SEC is deliberately holding up the case.

• The delay is administrative, not strategic or intentional, according to Fagel.

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📊 Markets

🚀 XRP Price Prediction- Bulls Target $17 Next As Active Addresses Surge 41% And Open Interest Hits ATH

XRP Price Gears for 480% Rally to $17

Retail traders are shifting towards XRP to avoid missing out on the ongoing rally, and the resulting surge in buying pressure has allowed the price to gain above the resistance of a bull flag. Based on the height of the flag pole in this pattern, the XRP price might register a rally of more than 480% in the coming months that pushes it above $17 if retail buyers do not reach a point of exhaustion.

The rally that is beginning above the resistance of this bullish flag seems strong based on the ADX indicator, which is changing its course to tip north following a drastic drop in the last six months. This indicator is now showing that the rise in price might continue and could result in a 480% increase to $17.

Additionally, the rising RSI also shows that buying pressure is higher than the selling pressure, and this might support another rally, considering that the value of 69 shows that a bullish momentum is currently in play.

This bullish XRP price forecast depicted above comes amid growing speculation that the GENIUS Act will fuel gains for XRP. The positive change in US crypto regulations that is expected to happen in the coming months might be among the factors that drive the next bullish run for this altcoin.

Key Takeaways:

• XRP breaks out of bull flag pattern, signaling a potential 480% rally

• Price could surge past $17 if retail momentum continues

• ADX indicator points to renewed bullish strength after months of decline

• RSI at 69 confirms strong buying pressure over selling

• Speculation around the GENIUS Act adds fuel to XRP’s bullish outlook

• Regulatory clarity in the US may drive the next major XRP rally

🔻 Pump.fun’s PUMP Token Falls Below ICO Price, How Low Will Price Go?

PUMP Token Sell Pressure Grows as Buyback Efforts Fall Short

According to CoinMarketCap data, PUMP token’s market cap has reduced to $1.43 billion. Despite over $1.1 billion in 24-hour trading volume, bulls failed to hold support zones. The earlier high near $0.00522 has now become resistance, as sellers continue to dominate the token’s market.

Based on BitMEX data shared on X, 59.6% of early investors have already sold or transferred their PUMP tokens. However, only 3% of this group have increased their holdings.

This suggests fading confidence, despite earlier optimism after the ICO raised $448.5 million from 10,145 participants. According to Coinalyze data, open interest in perpetual contracts has also declined 16.3% in one day, now standing at $629.2 million.

Crypto Bully, a well-known trader, said via an X post that he expects more downside unless a strong catalyst emerges. He called the current technical signals a setup for short positions.

However, he didn’t provide the next possible crucial support level for PUMP token. Pump.fun repurchased $2.3M in PUMP tokens to stabilize the price.

But the situation worsened after the much-hyped buyback strategy failed to stop the bleeding. However, the price drop below the ICO floor confirms fears that early liquidity exit was outweighing any long-term holder conviction.

Key Takeaways:

• PUMP token’s market cap has dropped to $1.43 billion despite $1.1B in 24-hour trading volume.

• Former support at $0.00522 has flipped to resistance as sellers dominate.

• 59.6% of early investors have sold or transferred tokens; only 3% increased holdings.

• Open interest in perpetual contracts dropped 16.3% to $629.2M in 24 hours.

• ICO initially raised $448.5M from over 10,000 participants.

• Crypto trader “Crypto Bully” sees more downside unless a strong catalyst emerges.

• Pump.fun’s $2.3M token buyback failed to stabilize the price.

• Price falling below ICO level suggests early exits outweigh long-term conviction.