Ripple has secured preliminary Crypto Asset Service Provider approval from the Luxembourg CSSF under the EU’s MiCA regulation, and XRP dropped 3% on the news. The token is trading at $1.10, down 5% over 24 hours, with the crypto market providing no cover.

The regulatory milestone is real, but was, sadly, not an XRP catalyst. Ripple framed the approval entirely around RLUSD and Ripple Payments infrastructure, with XRP appearing only as something that “underpins” those solutions, a footnote in Ripple’s own announcement about its own network’s native token.

Xrp (XRP)

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The CASP green light enables regulated crypto-asset services across all 30 countries of the European Economic Area. It does not create a direct demand mechanism for XRP.

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Ripple MiCA Win Is Infrastructure Plumbing, Not an XRP Demand Catalyst

The CSSF’s green light is a “Green Light Letter,” preliminary approval that remains subject to final conditions before full MiCA compliance is conferred. Ripple said that upon full approval, the CASP license, combined with its existing EU Electronic Money Institution (EMI) license, also issued out of Luxembourg, would make it fully MiCA-compliant.

What the approval actually covers is Ripple Payments and RLUSD distribution infrastructure. The commercial pitch is that European banks, fintechs, and corporates can run collection, exchange, and payout through a single Ripple integration across the entire EEA.

There is an additional nuance that the announcement does not resolve. A CASP license authorizes crypto-asset services, but it is structurally distinct from the separate authorization a stablecoin requires to be issued as a MiCA e-money token. Ripple’s announcement touts stablecoin payments infrastructure without clarifying RLUSD’s own standing under MiCA’s non-euro token regime, which caps dollar-pegged stablecoins’ use as a means of exchange in the bloc.

Tether’s USDT, on the other hand, was effectively pushed out of Europe ahead of MiCA’s implementation. Circle, however, brought USDC and EURC into compliance through its EMI. Where RLUSD sits on that spectrum is precisely what institutions will want answered before committing to the integration.

Ripple is also arriving at this milestone late relative to peers. MiCA became fully applicable to crypto-asset service providers in December 2024. Circle secured its approval in April 2025, and B2C2 obtained a CASP license from the Luxembourg CSSF in May 2025. OKX, Coinbase, and Kraken were cleared through the course of 2025.

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Ripple’s differentiating argument is the combined EMI-plus-CASP full stack, “one regulated rail for the entire payments flow” backed by over $100 billion in Ripple Payments volume across 60-plus markets and more than 75 licenses globally. That is a credible enterprise pitch. It does not route revenue or demand through XRP.

This pattern is not new. The XRP community publicly pushed back on Ripple’s Swell 2026 agenda last week for prioritizing RLUSD development while the token underperformed. RLUSD’s regulatory queue extends beyond Europe as well, with a California DFAL filing deadline adding another stablecoin-focused regulatory hurdle to the list.

It’s the truth that every major Ripple announcement this cycle has landed as confirmation of the same thesis: the company is building a compliant payments infrastructure in which RLUSD is the product, and XRP is background infrastructure. The MiCA green light has not been priced in just yet – because, structurally, there is nothing in it for XRP to price in.

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The US dollar’s rise to a 13-month high is weighing on metals. That has changed the debate around gold, silver, and copper heading into the end of 2026. The key question is which metal can withstand the pressure best.

Because these commodities are priced in dollars, a stronger greenback makes them more expensive outside the US. That puts gold, silver, and copper under the same pressure. The real separation now shows up in the ratios, weekly charts, and bank forecasts for year-end prices.

The Rising US Dollar Index is Pressing Commodities

The starting point for every metal right now is the dollar. The US Dollar Index (DXY), which measures the dollar against a basket of major currencies, has pushed above 100 to a 13-month high.

A stronger dollar makes dollar-priced commodities costlier for the rest of the world, which weighs on gold, silver, and copper. The same force has cooled risk appetite across crypto and stocks.

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The driver is the rate path. With the Federal Reserve seen holding rather than cutting in 2026, real yields stay firm, and the dollar stays bid, which is the headwind behind the recent metals pullback.

With the DXY chart looking strong (bullish rising channel) and rate hikes back on the table, the case for a weaker dollar near term looks thin. That headwind affects the entire metals complex, bringing the focus back to which one holds up best.

The Metals Move as One, So Leadership Is the Real Question

The three metals are pulling in the same direction. Over the past six months, gold (XAU/USD) and silver (XAG/USD) show a correlation of 0.83; silver and copper, 0.72; and gold and copper, 0.61.

Correlation measures how closely two assets move together, where 1.0 is lockstep, and 0 is no link. Readings this high mean one shared trade, not three separate bets.

So the gold, silver, and copper forecast comes down to relative strength inside the complex, not to calling one metal up and another down. The ratios and the weekly charts decide it.

Gold sets the tone for the group, so it is the place to start.

Gold Holds a Falling Channel With Banks Far Apart

(XAU/USD) has traded inside a falling channel since late January, when it peaked near $5,608. A falling channel is a downward drift between two parallel trendlines. Price tried to rebound on March 23, pushed higher, then rolled over again.

On the weekly chart, the line that matters is $4,027. Gold should hold above it. A weekly close under $4,027 opens the door toward $3,249, the prior breakout shelf.

To rebuild strength, gold needs to reclaim $4,400, and a move back above $5,004 would turn the weekly trend constructive again.

The bank split is wide. Goldman Sachs analysts Lina Thomas and Daan Struyven cut their year-end target to $4,900 on June 19, on the view that the Federal Reserve may not cut rates in 2026. JPMorgan sees $6,000 by year end despite the crowded bearish positioning.

Silver shares gold’s bearish pattern, but its chart hides a second setup.

Silver Tracks Gold but Builds a Double Bottom

(XAG/USD) sits in the same falling channel, which the high correlation supports. Underneath it, a double bottom is taking shape, a pattern where price carves two similar lows and hints at a base.

The first hurdle is $66.53, which has already been rejected once. The level that matters is $75.36. A weekly move above the $75 zone would break the falling channel and turn the bias bullish.

The downside is clear if it fails. Under $59.40, the next stops are $52.27 and then $42.12. A larger trigger sits at $89.62, which would complete the double bottom and project a move of roughly 46%, though that is far off.

The fundamentals are supportive. The Silver Institute forecasts a sixth straight annual market deficit in 2026, near 215 million ounces, and the largest on record. Six straight years of deficit means the market is leaning on above-ground stock to fill the gap, a slow squeeze that supports silver over time.

Copper is the other half of silver’s story, the industrial pull, and right now, copper is the AI trade.

AI Trade Highlights Copper, Its Strengths and Problems

Copper has been in a rising channel since 2024. It came close to breaking above that channel on May 11 and again on June 1, where a double top is now forming, a pattern of two failed highs that warns of exhaustion.

The structural case is the AI build-out. Goldman Sachs Research expects data-center power demand to rise about 165% by 2030, and sees grid and power infrastructure driving more than 60% of copper demand growth this decade, at roughly 6 to 8 tonnes of copper per megawatt of capacity.

So why has copper stalled just under its breakout? The AI trade has wobbled, and data-center policy risk has taken some heat out of the ascent. It shows up in the targets. Bank targets now straddle copper’s record price.

JPMorgan’s full-year 2026 average near $12,075 a tonne sits just below it, Goldman recently lifted its year-end call to about $13,735, and Citi is the highest near $15,000.

On the chart, copper needs to hold $6.12. Under it, expect a slip toward $6.04. A weekly break above $6.47 brings $6.68 and then $7.02 into play. The $6.68 level would confirm the real breakout.

In the per-pound terms the chart uses, the targets straddle copper’s current $6.16. JPMorgan’s 2026 average near $5.48 sits below it, Goldman’s raised year-end call near $6.23 is right at it, and Citi is the highest near $6.80, just above the $6.68 breakout.

The ratios between the metals show how this tension is resolving.

The Ratios Tell You Who Is Leading

Three ratios frame the macro tape. The gold-silver ratio has climbed from about 44 in January to 66 now. That is a risk-off tilt favoring gold, though 66 is not yet extreme enough to scream silver is cheap.

The gold-oil ratio has risen from about 41 on May 19 to 56, a stress reading where gold is strong and oil is weak.

The silver-copper ratio cuts the other way. It has fallen from about 19 in January to 10, with copper leading, a classic industrial-demand signal.

That is the core tension. Gold and oil say risk-off, silver and copper say industrial growth, and silver gets squeezed between the two regimes.

Put together, the three charts point to a clear pecking order into year-end.

The Gold, Silver, and Copper Forecast Into End-2026

Copper is the structural leader. The AI and grid demand story is the strongest multi-year case of the three, but the chart has stalled at a double top, and most 2026 bank targets imply a near-term pullback from record levels.

Gold is the macro anchor. It carries the widest bank disagreement, a $1,100 gap between Goldman at $4,900 and JPMorgan at $6,000, and it leads only if stress and rate cuts dominate.

Silver is the high-beta wildcard. It lags both, yet a record supply deficit and a building double bottom give it the most catch-up room if either the macro or the industrial bid strengthens.

The dollar is the switch. So while the DXY holds above 100, the complex stays capped, and copper’s $6.12 is the line that separates a fresh AI-led leg higher from a double-top unwind that pulls silver and gold down too. All thanks to the positive correlation between the three.

The post Gold, Silver or Copper: Which Commodity Looks Best Heading into the End of 2026? appeared first on BeInCrypto.

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The House Financial Services Committee has scheduled back-to-back hearings on July 14 and July 17, one covering Federal Reserve monetary policy, the other focused directly on the CLARITY Act. This is giving supporters of comprehensive crypto regulation their highest-profile platform yet as the pre-recess window narrows.

As of today, the bill has cleared the Senate Banking Committee, been placed on the Senate legislative calendar, and attracted a House fast-track commitment if the Senate moves first. None of that changes the core arithmetic: the CLARITY Act needs 60 votes on the Senate floor, and Republicans currently hold 53 seats.

Senator Cynthia Lummis, the Wyoming Republican leading the Senate push, has set the end of July as a hard deadline. She also warns explicitly that missing the pre-recess window could delay enforceable digital asset market structure rules until 2030.

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The 60-Vote Clarity Act Problem

The gap between “placed on the Senate legislative calendar” and “signed into law” runs through a specific procedural bottleneck. Invoking cloture to cut off debate requires 60 votes; with a 53-seat Republican majority, the CLARITY Act needs at least seven Democratic crossovers. The Senate Banking Committee vote on May 14 produced only two Democratic votes from Ruben Gallego and Angela Alsobrooks, and it is leaving five or more additional Democratic senators to be secured before a floor vote can succeed.

A bipartisan ethics provision in the bill has been fracturing Democratic support further, and Fox Business reporter Eleanor Terrett described the original White House target of July 4 as “logistically impossible” before the date even arrived. Galaxy Research has pegged passage odds at roughly 60% and notes that the window “effectively closes” once the August recess begins.

Even if the Senate floor vote clears 60, the bill would then require reconciliation with the version the House passed in July 2025 by 294–134. Rep. Dusty Johnson pledged on June 18 that the House would act “swiftly” on any Senate text, compressing that step, but reconciliation differences still have to be resolved before the bill reaches the president’s desk.

If this misses the pre-recess window, the next viable legislative opening is 2027 at the earliest, with some analysts pointing further out. The same credible basis for Lummis’s 2030 warning.

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July 14 and July 17: What To Expect?

The July 14 session before the House Financial Services Committee is formally structured around the Federal Reserve’s semi-annual Monetary Policy Report. However, its market significance extends further. It is reported that Kevin Warsh will deliver his first congressional testimony as Fed Chair, making it the first opportunity for lawmakers to publicly interrogate the new leadership’s posture on rate policy, dollar strength, and the regulatory perimeter around financial innovation.

For crypto markets, Warsh’s framing of digital assets, whether he treats them as a monetary policy variable or a separate regulatory question, will carry weight heading into the CLARITY Act hearing three days later.

The July 17 hearing moves the focus explicitly to the CLARITY Act and digital-asset innovation, with the notable detail that it is being held in New York rather than Washington. That venue choice is deliberate: New York is the largest U.S. financial center, and holding the hearing there anchors the bill’s stakes to institutional finance rather than abstract legislative process. Exchanges, custody providers, and capital markets participants concentrated in the city represent the economic constituency that regulatory uncertainty is actively costing.

Together, the two hearings give the bill’s backers a sequenced argument: monetary policy context on the 14th, market-structure specifics on the 17th. The CFTC’s expanded role under the bill, and the digital asset market structure framework it would codify, will be front and center at the New York session. The hearing is a narrative event. The execution event is the floor vote that has to follow it.

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The U.S. Senate has approved a sweeping bipartisan housing bill that bans the Federal Reserve from issuing a CBDC until 2030.

The bill passed by a strong 85-5 vote and awaits action in the House, where leadership and committee members reportedly plan to advance it quickly.

CBDC Ban Advances Through Housing Package

The housing package is designed to make homes more affordable and reduce competition from corporate firms. Interestingly, one of its provisions prevents the Fed from issuing a U.S. central bank digital currency (CBDC) for up to 4 years.

“Agreed to, 85-5: Motion to concur in the House amendment to the Senate amendment to H.R.6644, 21st Century ROAD to Housing Act,” wrote the Senate.

Lawmakers were said to be considering a fast track that could see the bill signed into law as early as Tuesday, with House Financial Services Committee Chairman French Hill saying he “looks forward to the House moving quickly to advance this bill to President Trump’s desk.”

Senate Chair Tim Scott added that it is time for the American people to get real relief, and Ranking Member Elizabeth Warren called it the biggest housing bill in over 30 years.

The latest development follows months of negotiation, during which the Senate first added the anti-CBDC provision in March, after which the House cleared the amended version in May.

President Donald Trump signed an executive order in January 2025 banning his administration from creating a CBDC, citing concerns that it would threaten the U.S. financial system and individual privacy. However, because this would only apply under his tenure, his allies in Congress pushed to include the restriction in the unrelated housing bill.

House Schedules July CLARITY Act Hearing

As lawmakers prepare for key meetings over the next few weeks, momentum is building around the CLARITY Act. The House Financial Services Committee said it will hold a hearing in New York on July 17 to look at the impact the legislation will have on financial innovation.

Senator Cynthia Lummis has been one of the biggest supporters of the proposal, often taking to social media to urge lawmakers to act faster. In her latest commentary, the Republican warned that regulatory uncertainty has driven talented developers overseas.

But there have been serious repercussions for others, like Tornado Cash developer Roman Storm, who was found guilty of knowingly transmitting more than $1 billion in criminal proceeds. The DOJ also pushed for a retrial after the jury deadlocked on charges of money laundering and sanctions violations.

The post US Senate Clears Housing Bill That Also Halts CBDC Push appeared first on CryptoPotato.

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Cardano (ADA) network activity barely changed after the Leios Musashi Dojo testnet went live on June 23, with daily transactions flat and active addresses near four-month lows.

The launch marks a major step for Cardano’s scaling plan. Yet the on-chain data and social signals tell a more cautious story about whether users have noticed.

The Testnet Barely Moved Cardano’s Network Activity

The headline event did little to the chain itself. Daily transactions held near 25,000, in line with the past three months, with no lasting lift after the testnet went live. The testnet is the first live trial of a scaling upgrade built for far higher throughput, a step toward a planned 2026 mainnet.

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The one clear surge came on June 4 and 5, when transactions jumped above 60,000. That spike lined up with a sharp sell-off, so it appears to reflect liquidation activity rather than fresh adoption.

Cardano active staking addresses tell a softer story. The count of distinct staking accounts transacting each day fell to about 5,000 on June 21, a 120-day low, against a 7,000 to 8,000 norm earlier in the window.

Fewer active accounts points to thinner everyday demand, which suggests the upgrade buzz has not drawn users back.

Note: That figure uses Dune’s stake-address method, so it runs lower than broader trackers that count every payment address. The direction, not the absolute level, is the point.

So the network looks quiet, but ADA on-chain data is only one lens. Crowd mood often moves first.

Social Sentiment Still Leans Positive

Cardano sentiment has held up better than the price slump would suggest. Santiment’s positive sentiment score sits at 8.29, against a negative score of 3.13, so optimism still outweighs fear by more than two to one.

Positive sentiment also spiked toward 30 during the testnet launch, far above the negative readings over the same stretch. The crowd appears to still see a reason for patience.

Sentiment is a soft signal, however. Money flows show whether that optimism comes with conviction.

Exchange Outflows Point to Accumulation, but Fading

The ADA exchange outflows trend has stayed constructive. Spot exchange netflow, a metric that tracks coins moving onto and off exchanges, has printed a net outflow every week since early May.

Net outflows usually suggest holders are moving coins into self-custody, a pattern often read as quiet accumulation. There has not been a single week of net inflow since mid-May, which would point to building sell pressure.

But the catch is the size. Weekly net outflows shrank from about $27 million in mid-May to just $4.53 million for the week ending June 22, a drop of more than 80%.

So the buying pressure is still there, aligning with the positive sentiment, but it is thinning fast. That tension defines where Cardano stands now.

What Cardano’s Network Needs Next

The contrarian read is simple. A landmark testnet arrived, and the chain barely reacted. Leios is a promise aimed at a late-2026 mainnet, not a switch that lifts demand today. For now, Cardano network activity is flat, addresses are sliding, and the catalysts that matter are still months away.

The hope is real but thin. Positive sentiment and steady, if shrinking, exchange outflows suggest holders have not given up, even as the latest Cardano news cycle failed to spark usage. Sustained growth in active addresses separates a real Leios-driven revival from a network still trading on promise.

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The Ethereum Foundation is reducing its annual budget by roughly 40% and cutting about 20% of its staff as part of a sweeping restructuring intended to turn the nonprofit into a leaner, endowment-based organization. The organization said in a blog post Tuesday that 54 employees are leaving… Read the full story at The Defiant

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