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The DeFi platform MANTRA obtained a Virtual Asset Service Provider (VASP) license from Dubai’s dedicated regulator overseeing crypto operations. The approval now allows the entity to serve as a Virtual Asset Exchange and provide Broker-Dealer and Management and Investment Services. MANTRA’s Milestone According to a document shared with CryptoPotato, the VARA license reinforces MANTRA’s commitment to compliance, security, and innovation in the virtual asset space. It also reaffirms the entity’s global expansion and strengthens its presence in the Middle East. Commenting on the initiative was the platform’s CEO, John Patrick Mullin: “By establishing the most timely, comprehensive, and built from-the-ground-up framework for virtual assets and Web3, Dubai and VARA have become world leaders in crypto regulation. This license was a crucial step for MANTRA and a key step in our journey towards global expansion.” He also claimed that the UAE has become “a progressive global hub and thriving ecosystem for Web3 and virtual assets” due to its comprehensive regulatory framework. This license not only strengthens our presence regionally, it positions us internationally to deliver unique DeFi products that bridge the gap between decentralized finance and traditional finance. Our goal is to build a future-focused financial ecosystem that benefits institutional and qualified investors globally,” Mullin added. Meanwhile, MANTRA plans to launch various unique DeFi products designed to meet investors’ needs. Each offering is developed with strict adherence to domestic regulations and international policy frameworks, ensuring maximum protection for users. OM’s Price Rally Speaking of MANTRA, we should mention the solid performance of its native token, OM. Its price is up a whopping 3,000% on a yearly scale, recently hitting an all-time high of almost $7.90. OM Price, Source: CoinGecko Some market observers believe the asset may chart a further increase in the near future. The X user BullifyX, for instance, envisioned a rise above $8. On the other hand, Ali Martinez assumed OM could be headed for a pullback, citing the formation of a sell signal on the 3-day chart. The post MANTRA Secures a License From Dubai’s VARA to Operate as a Virtual Asset Exchange appeared first on CryptoPotato.

TL;DR Whales have purchased almost $400 million worth of XRP in the last two days, which could potentially drive upward pressure on the asset’s valuation. Growing anticipation for a spot XRP ETF, with SEC acknowledgment of filings from Grayscale, 21Shares, and Bitwise, could provide a major catalyst for future price movement. Time for Another Rally? While XRP remains in green territory on a weekly scale, the price has recorded some setbacks in the past few days. It plunged below $2.50 on February 18 before rising above the current $2.60 (per CoinGecko’s data). According to the popular X user Ali Martinez, whales have used the recent drop as an opportunity to accumulate additional tokens, buying 150 million XRP in the last 48 hours. As of writing these lines, the stash equals almost $400 million. Continuous efforts in that field will reduce the coin’s circulating supply, potentially making it more valuable (assuming demand doesn’t head south). In addition, the actions of those investors are sometimes mirrored by smaller players who might also join the ecosystem, thus injecting fresh capital. Shortly after highlighting the whales’ efforts, Martinez outlined a price prediction for Ripple’s native token. Based on the potential breaking out of an ascending triangle on the lower time frames, he believes it might climb by 4% to $2.68. Another person who chipped in was EGRAG CRYPTO. They suggested that XRP needs to stay above $2.69-$2.73 in the 4-hour time frame to invalidate the bearish count and begin a bullish continuation. ETFs Pile up An important factor that may positively impact the price of the asset is the possible approval of a spot XRP ETF in the US. Such a product will enable investors to gain exposure without having to purchase or hold the token. Some of the companies that have already displayed their intentions to introduce that type of investment vehicle include Grayscale, 21Shares, and Bitwise. It is worth noting that the US Securities and Exchange Commission (SEC) officially acknowledged their applications. This means that these applications are now under the regulator’s review, awaiting approval or rejection. The deadline for the final decision is 240 days from the initial filings. According to Polymarket, the chances of an approved XRP ETF before July 31 are 44%, while the odds of that to happen before the end of 2025 are 78%. The post Ripple Whales Go on a Buying Spree Again: Is XRP Ready for New Heights? appeared first on CryptoPotato.

An XRP whale has drawn attention with a big accumulation of 20 million XRP coins during the recent price dip. Data from Whale Alert shows the transaction happened on the Gemini exchange, that approximates $50.65 million in value. This large-scale acquisition has sparked speculation about its potential impact on XRP’s market movement. The cryptocurrency recently recorded a slight decline, now hovering around the $2.58 mark, which is making people wonder if this purchase signals a price shift is coming soon. The sudden accumulation of XRP has got market discussions going, with investors debating the possible reasons behind the move. One theory is that the whale may be attempting to tighten the available supply of XRP on exchanges, potentially driving demand and influencing price action. Another possibility could be that institutional investors might be positioning themselves for a long-term price increase. Despite the uncertainty surrounding this transaction, historical patterns indicate that large-scale acquisitions often precede significant price movements. However, market participants should remain cautious, as increased whale activity can also contribute to short-term price volatility due to shifting liquidity. Crypto analyst Ali Martinez highlighted a broader trend in XRP accumulation. According to his analysis, whales have purchased 150 million XRP in the past 48 hours, bringing their total holdings to over 6.9 billion XRP. The data, which showcases a surge in whale activity, coincides with fluctuating XRP prices. This growing interest from large investors suggests a potential bullish outlook for XRP in the coming weeks. Related: XRP Price Momentum Intact But Analyst Predicts Short-Term Dip: Details Adding to this, analyst EGRAG CRYPTO provided insights into XRP’s long-term market potential. Using Fibonacci retracement levels, he projected that XRP’s market capitalization could reach $1 trillion in this cycle. He pointed out that XRP’s previous bull run saw a 15,000% increase in market cap, and a move to the Fibonacci 1.618 level could represent just 4% of that movement. By applying conservative estimates, he suggested a possible 600% increase in XRP’s price in the future. As of press time, XRP trades at $2.58 , with a 24-hour trading volume of approximately $4.45 billion. Related: XRP Analysis: Will XRP Make or Break its Current Support? The cryptocurrency has recorded a 0.34% price increase in the past day and an 8.33% gain over the last week. With a circulating supply of 58 billion XRP, its market capitalization stands at roughly $149.66 billion. 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.

Realized loss data suggests now is not the best time to purchase Bitcoin Cryptocurrency analyst and trader Ali Martinez, citing CryptoQuant data, reported on X that the most advantageous periods to buy Bitcoin $BTC since 2022 have occurred when the margin of traders' realized…

Ripple-linked crypto XRP could be on the precipice of another parabolic rise. According to a widely-followed crypto analyst, XRP is forming a convincing pattern on the price chart, signaling a potential surge of up to 28% in the foreseeable future. XRP’s Cup And Handle Hints At Move To $3.35 XRP is approaching a potential breakout that will result in an explosive outcome. Technical analyst Ali Martinez told his 127,000 followers on the X social media platform that XRP has been forming a cup-and-handle chart structure on its four-hour chart since February 1. In technical analysis, the cup and handle pattern is a popular bullish continuation pattern in which the price of a crypto asset moves upward in a rounded cup and corrects downwards as it creates a handle. This formation is considered a bullish signal that marks the potential for a parabolic breakout. The rounded bottom of the cup in the pattern indicates an accumulation phase during which selling pressure wanes and buyers are in the driver’s seat. After XRP’s price surge to new highs earlier this year, the cryptocurrency witnessed a major correction that drove its price below the $3 milestone, followed by a strong comeback in what seems to be a U-shaped recovery forming a cup. The pattern validates when the price pushes above the handle, surging to about an equal size to the previous drop. According to Martinez’s accompanying chart, an XRP breakout will kick off after breaking past the pattern’s resistance at $2.80. Breaching this barrier would embolden the bulls to push the price toward $3.35, representing a 28% jump from the current levels. At the time of writing, XRP is trading at $2.61. “If XRP is following a cup and handle pattern, a breakout could set the stage for a move toward $3.35!” Martinez wrote. XRP Eyeing Potential Bullish Reversal Martinez is not the only crypto analyst with a bullish outlook on XRP. For instance, Dark Defender suggested that XRP must first overcome the stubborn resistance at $2.77 for the coin to reclaim the $3 mark. “XRP is trying to claim the $2.7740 level. If successful, then $3 will be in play. Breaking this channel heralds 2 digits levels first!” Meanwhile, XRP has several catalysts, including the potential launch of spot exchange-traded funds (ETFs) in the U.S. or Ripple executives courting the new U.S. President Trump administration, which could also unlock new venues for the asset’s mainstream adoption.