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Ripple (XRP) News Today: March 3rd

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Ripple continues to draw attention due to important developments concerning its entire ecosystem.

The company’s native token, XRP, has posted a minor recovery over the past week, but some indicators suggest a renewed downfall could be knocking on the door.

Ripple & Hidden Road

The firm made the headlines in April last year when it announced it would purchase the brokerage platform Hidden Road for a whopping $1.25 billion. The official conclusion of the deal occurred in October 2025.

Some industry participants described the acquisition as a “game changer” because it gives Ripple direct control over a prime brokerage that processes over $3 trillion in volume every year. This makes it much easier for banks, hedge funds, and other large players to use XRP in settlements, thereby increasing its institutional adoption.

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A recent DTCC notice revealed that Hidden Road has officially gone live on the National Securities Clearing Corporation (NSCC) on March 2nd. The X account BankXRP shared the news, arguing:

“Ripple Prime’s role in bridging TradFi and DeFi will likely move post-trade volume to the XRPL.”

David Schwartz – one of the original architects of the XRP Ledger and CTO Emeritus at Ripple – also touched upon the matter, saying that the development “seems important.”

RLUSD’s Progress

Ripple’s stablecoin, dubbed RLUSD, officially saw the light of day in late 2024 and has been gradually advancing ever since. The product, pegged 1:1 to the US dollar, received backing from numerous exchanges and renowned banking institutions, such as the oldest American bank, BNY Mellon.

RLUSD’s market cap now nears $1.6 billion, with X user SMQKE recently noting that the stablecoin has grown “much faster” than Circle’s USDC in its first year.

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Several hours ago, another 69 million tokens were minted at the RLUSD Treasury, with Vet emphasizing that this is the largest single mint to date.

The ETFs

In November last year, Canary Capital became the first company to launch a spot XRP ETF in the US, which has 100% exposure to the token. The renowned names that followed suit shortly after include Bitwise, Franklin Templeton, 21Shares, and Grayscale.

Initially, the investment vehicles were a major success, with millions of dollars pouring in during the first weeks, generating a cumulative net inflow of roughly $1.25 billion to date. Lately, though, that momentum has noticeably faded.

Spot XRP ETFs
Spot XRP ETFs, Source: SoSoValue

XRP Price Outlook

As of this writing, Ripple’s native cryptocurrency trades around $1.35, representing a minor 1.5% increase on a weekly scale. However, the market’s overall bearish condition, as well as certain indicators, hint that a new pullback could be on the way.

For example, almost 500 million XRP (worth around $650 million) have been transferred to Binance following the escalating military conflict between the USA and Iran. This is considered a bearish factor as it may suggest that investors are preparing to cash out.

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On the other hand, XRP’s Relative Strength Index (RSI) has fallen to 30 on a weekly scale. The development indicates that the asset is oversold and could be due for a short-term resurgence. The metric runs from 0 to 100, where anything above 70 is seen as bearish territory.

XRP RSI
XRP RSI, Source: CryptoWaves

The post Ripple (XRP) News Today: March 3rd appeared first on CryptoPotato.

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Binance Coin (BNB) Rallies From Key Support Level as Derivative Markets Show Strength

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BNB PRICE

Key Highlights

  • Binance Coin recovered from a weekend low of $627 to reach approximately $648, driven by renewed positive market momentum.
  • Futures open interest for BNB jumped 6.5% to reach $923 million, while Binance’s long/short ratio exceeded 2.21.
  • Technical analysis shows BNB maintaining position above a critical ascending trendline within a bullish parallel channel pattern.
  • A bullish crossover has formed as the 20-day SMA moved above the 50-day SMA, while BNB remains 53% below its peak price.
  • Market analysts project price targets spanning from $2,000 to $5,000, supported by historical cycle analysis and fundamental on-chain metrics.

Binance Coin experienced a notable recovery from its weekend low of $627, pushing back toward the $648 level by Monday, March 25. This upward movement coincided with improved overall crypto market conditions as geopolitical concerns between the U.S. and Iran showed signs of de-escalation.

BNB PRICE
BNB Price

West Texas Intermediate crude oil retreated from $100 to approximately $87 per barrel as international tensions cooled. During this same timeframe, Bitcoin recovered above the $71,000 threshold while Ethereum neared $2,200. Equity markets across Asia, including Japan’s Nikkei 225, Hong Kong’s Hang Seng, and the Shanghai Composite, similarly recorded positive sessions.

According to CoinGlass derivatives data, BNB’s open interest expanded by 6.5% over a 24-hour period, reaching $923 million. On Binance specifically, the long/short ratio climbed above 2.21, indicating that bullish positions significantly outnumber bearish ones among active traders.

Technical Indicators Signal Continued Bullish Momentum

Chart analysis reveals BNB operating within an ascending parallel channel formation on the daily timeframe. The cryptocurrency has successfully maintained its position above the lower boundary of this channel, which has provided reliable dynamic support throughout recent weeks.

Source: TradingView

A significant development has occurred with the 20-day simple moving average (SMA) crossing above the 50-day SMA. This bullish crossover typically indicates strengthening short-term momentum favoring buyers over sellers. Meanwhile, the relative strength index (RSI) is hovering near neutral territory, implying additional upside potential remains available.

The immediate resistance zone to monitor sits at $685, a price level that has previously rejected upward attempts multiple times this month. Successfully breaking through this barrier could pave the way toward the 100-day SMA positioned around $750. Conversely, a decline beneath $600 would challenge the current constructive technical formation.

With BNB currently valued 53% below its historical peak, substantial recovery potential exists assuming market conditions remain favorable.

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Crypto analyst Patel highlighted BNB’s position 53% off its all-time high, referencing historical patterns, ongoing token burn mechanisms, and robust fundamental indicators as justification for ambitious long-term price targets ranging from $2,000 to $5,000 and potentially $10,000, while identifying $300-$420 as an ideal accumulation range.

Token Economics and Network Utility Drive Underlying Value

BNB maintains significant utility across the Binance platform infrastructure. The token serves multiple functions including transaction fee payments, trading fee reductions, and various blockchain-related services, creating consistent organic demand.

Binance implements systematic token burn events that progressively reduce BNB’s circulating supply. These quarterly burns are viewed favorably by market analysts as a deflationary mechanism that complements expanding on-chain usage and network activity.

The previous accumulation range between $300 and $420 has been successfully cleared, and cycle-based projection models now suggest potential price zones between $2,000 and $5,000. These forecasts derive from historical market cycle analysis and structural data patterns.

As of March 26, BNB continues trading near $648 with the critical $600 support level holding firm.

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Fenbushi Co-Founder Offers Bounty to Recover $42M Stolen Crypto

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Fenbushi Co-Founder Offers Bounty to Recover $42M Stolen Crypto

Investigators have frozen about $1.2 million as efforts continue to trace funds lost in a wallet breach linked to a seed phrase compromise.

Bo Shen, the co-founder of venture capital firm Fenbushi Capital, offered a bounty to recover about $42 million in digital assets stolen from his personal wallet in a 2022 hack. 

Shen said Thursday that he was offering a 10%-20% bounty on the recovered amount to any individual or organization that makes a substantial contribution to recovering the assets. Shen said onchain investigators ZachXBT and Taylor “Tayvano” Monahan had already helped freeze about $1.2 million in related assets. He said his team would distribute rewards once the recovery is complete.

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The bounty revives a case Shen first disclosed in November 2022, when he said roughly $42 million in crypto had been drained from his personal wallet. At the time, he said the stolen funds were personal and did not affect Fenbushi-related entities.

Blockchain analytics company SlowMist later said the theft was caused by a compromise of Shen’s mnemonic seed phrase.  Shen said the renewed push comes after investigators developed new leads and a clearer picture of how the stolen assets moved, though any recovery remains uncertain.

Source: Bo Shen

SlowMist said the stolen assets included about $38.2 million in USDC (USDC), 1,607 Ether (ETH), nearly 720,000 USDt (USDT) and 4.13 Bitcoin (BTC). These assets were later moved through exchanges, including ChangeNow and SideShift. 

Shen says improved tracing tools expanded recovery efforts

Shen said onchain tracking and security investigation tools were less developed when the hack occurred in 2022, limiting the ability to trace funds across chains and platforms. 

He said that recent advances in artificial intelligence-driven data analysis and onchain forensics improved the ability of investigators to follow asset flows and identify relevant transaction patterns. 

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Related: Hacked crypto tokens drop 61% on average and rarely recover, Immunefi report says

Shen said the effort could also serve as a test case for how newer tools and coordination methods can support long-running investigations. He said the case highlights how technological progress may expand what is possible in tracing and responding to crypto-related incidents. 

However, any recovery remains uncertain, even with better tracing tools and fresh leads.

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