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What’s behind the latest decline?

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XRP price chart | Source: Egrag Crypto/X

Ripple’s (XRP) price has recently slipped after a failed recovery attempt, with high-volume selling pushing the token back toward a key support level of $1.40. The token has struggled with a broader corrective phase since its peak in mid-2025, with rallies consistently failing to build momentum.

Summary

  • XRP’s price drops to $1.40, facing a broader corrective phase since mid-2025.
  • Retail investors continue to support XRP, while institutional interest remains cautious.
  • XRP’s price action depends on upcoming regulatory developments and macroeconomic conditions.

XRP’s price is currently $1.40, experiencing a 3% decline over the past 24 hours. The cryptocurrency’s market cap stands at approximately $86 billion. 

Despite some short-term attempts at recovery, XRP remains trapped in a larger corrective phase. The latest pullback comes after a brief rebound in mid-March, which failed to surpass the $1.60 mark.

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XRP’s price struggles are compounded by macroeconomic factors, with the Federal Reserve’s recent policy stance influencing broader market sentiment. This has led to a cautious trading environment for many cryptocurrencies, including XRP. While the asset’s technical structure shows some resilience, traders are closely monitoring whether XRP can stabilize or continue to fall within its established range.

Retail adoption and institutional caution

While institutional interest in XRP remains cautious, the cryptocurrency continues to see strong support from retail investors. According to crypto analyst Egrag Crypto, XRP is currently in the retest phase of a macro ascending triangle, and the pullback in price is seen as confirmation rather than weakness. Egrag highlights a bullish long-term view, with potential price targets for XRP reaching $8, $17, and $27, provided the trendline holds.

XRP price chart | Source: Egrag Crypto/X
XRP price chart | Source: Egrag Crypto/X

Retail demand is becoming a key driver of XRP’s growth, with blockchain data showing a strong retail presence. Analysts are optimistic about the asset’s future potential, especially as macroeconomic factors and regulatory clarity evolve. However, skepticism remains within institutional circles, reflecting the more conservative approach from major investors.

XRP’s exchange activity signals resilience

Despite recent price declines, XRP continues to show resilience, with activity on top crypto exchanges, particularly Binance, signaling sustained demand. Data from CryptoQuant shows a modest shortage of XRP reserves on Binance, dropping to $2.79 billion as of March 22. 

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This suggests that traders are either holding onto their XRP or buying more, rather than selling off their holdings. XRP’s performance on exchanges indicates that the asset has not lost its appeal to investors, even amid the broader market downturn. 

Moreover, XRP’s price action will likely depend on upcoming regulatory developments and broader market conditions. Analyst X Finance Bull points out that various catalysts, including the potential passage of the CLARITY Act and growing institutional interest, could provide upward momentum for XRP. However, the asset’s performance will continue to be shaped by both retail sentiment and institutional caution, creating a complex market dynamic moving forward.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Kenya Moves Closer to Regulating Crypto Firms With VASP Framework

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Kenya Moves Closer to Regulating Crypto Firms With VASP Framework

Kenya is moving closer to formalizing oversight of its digital asset sector after completing public consultations on proposed rules for crypto firms.

On April 11, the National Treasury announced that it had concluded stakeholder submissions on the draft Virtual Asset Service Providers (VASP) regulations. This step advances the framework needed to implement the country’s 2025 law governing crypto-related businesses.

Kenya Drafts Stricter Rules for Crypto Firms

The rules will establish licensing requirements and supervisory standards for companies dealing in cryptocurrencies, tokenized assets, and stablecoins.

The proposed regime outlines entry thresholds for operators, including ownership suitability tests, capital requirements, and governance standards. It also establishes obligations related to risk management and anti-money laundering compliance.

The Kenyan authorities are also seeking to impose stricter consumer safeguards. This would include mandatory disclosures, transparent pricing, and protections for crypto client funds.

The framework introduces market conduct provisions aimed at curbing manipulation and insider activity, while requiring due diligence for asset listings and ongoing monitoring of trading activity. Firms would also be subject to periodic reporting, audits, and cybersecurity standards under a system combining on-site and off-site supervision.

The central bank and capital markets authorities are expected to share oversight of the crypto sector.

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Kenya’s push to formalize oversight aligns with a broader global shift among regulators to define sectoral rules while preserving space for innovation.

The Treasury said the next phase will involve reviewing feedback and refining the draft before finalizing the regulations. The outcome is expected to shape how firms enter and operate in one of Africa’s more mature fintech markets.

“Kenya is building a trusted framework that balances innovation with financial stability,” the financial agency stated.

The consultation process comes as digital asset use expands rapidly across Africa. According to Ripple, the continent faces high transaction costs, delays in cross-border transfers, and limited access to stable foreign currencies.

As a result, people on the continent have shown increased reliance on crypto-based tools for settlement and savings.

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Due to this, Sub-Saharan Africa has emerged as one of the fastest-growing crypto markets, with transaction volumes rising sharply over the past year.

The post Kenya Moves Closer to Regulating Crypto Firms With VASP Framework appeared first on BeInCrypto.

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Trump token sees whale accumulation ahead of Mar-a-Lago gala; senators raise questions over event

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Trump token sees whale accumulation ahead of Mar-a-Lago gala; senators raise questions over event

Large investors are accumulating the TRUMP memecoin ahead of an upcoming gala hosted by President Donald Trump at Mar-a-Lago on April 28, even as the token trades near record lows and the impending event faces political scrutiny.

Data tracked by blockchain sleuth Lookonchain shows notable whale buying through centralized exchanges. One whale, “8DHkza,” withdrew 850,488 $TRUMP tokens (worth approximately $2.4 million) from Bybit over the past two days. Another address, “7EtuAt,” withdrew 105,754 tokens (around $298,000) from Binance 17 hours ago and currently holds 1.13 million tokens, valued at roughly $3.2 million.

Outflows from exchanges are said to represent investor intention to take direct custody of coins and hold the same for long-term. Hence, outflows are taken to indicate accumulation and potentially reduce immediate sell-side liquidity in the market.

The accumulation comes ahead of an invitation-only luncheon reportedly limited to the top 297 TRUMP token holders, with the top 29 receiving exclusive VIP access to Donald Trump.

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However, TRUMP continues to trade at record lows near $2.80, down 0.2% on a 24-hour basis and over 1% in seven days. The token came under pressure this week after CoinDesk reported the Trump-linked crypto venture World Liberty Financial’s controversial lending strategy on the Dolomite DeFi platform.

Meanwhile, U.S. lawmakers have stepped up scrutiny of the Mar-a-Lago event. Senators Elizabeth Warren, Adam Schiff, and Richard Blumenthal have sent a letter to Fight Fight Fight LLC, a Delaware-based entity run by Trump associate Bill Zanker, requesting documents and information on whether Trump played a role in planning, promoting, or financially benefiting from the gathering. Fight Fight Fight LLC TRUMP memecoin in partnership with entities affiliated with Donald Trump.

“It is essential that Congress fully understand the extent to which President Trump and his family are profiting off of his cryptocurrency ventures,” the senators said, adding that “Congress must also take steps to prohibit and prevent these egregious conflicts of interest.”

The probe introduces an additional layer of uncertainty for the token, as regulatory and political risks intersect with already weak price action.

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US Down To ‘Last Chance’ To Pass Clarity Act Before 2030: Lummis

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US Down To 'Last Chance' To Pass Clarity Act Before 2030: Lummis

The United States government must pass the CLARITY Act, which aims to provide the crypto industry with clearer regulatory oversight, soon, or risk waiting almost another four years to move the industry forward, according to US Senator Cynthia Lummis.

“This is our last chance to pass the Clarity Act until at least 2030,” Lummis, a well-known crypto advocate, said in an X post on Friday.

“We can’t afford to surrender America’s financial future,” she added. The comments come as crypto industry participants begin to worry that the bill’s chances of passing this year are narrowing, with US midterm elections in November potentially changing congressional priorities and slowing momentum on the highly anticipated crypto legislation.

The former White House AI and crypto czar, David Sacks, also chimed in on Thursday with a similar view to Lummis.

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“The time to act is now. Senate Banking, and then the full Senate, should pass market structure. I’m confident that they will. And then President Trump will sign this landmark bill into law,” Sacks said. 

Consumers and entrepreneurs both “win” from the CLARITY Act

Many industry participants have argued that the passage of legislation aimed at clarifying which regulators oversee parts of the crypto industry could lead to greater innovation in the US and potentially increase demand for crypto assets among retail investors.

Source: Chad Steingraber

A16z Crypto managing partner Chris Dixon reiterated that view in a post, saying that “when rules are defined, both consumers and entrepreneurs win.”

A wide range of sectors in the crypto industry expect the move to be positive. 

Web3 gaming giant Immutable founder Robbie Ferguson said just days before, on April 3, that “the CLARITY Act will make the last decade of growth in gaming look like a joke.”

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On Friday, Coinbase CEO Brian Armstrong, who withdrew the crypto exchange’s support for the Digital Asset Market Clarity Act in January, said “it’s time” for the legislation to pass after months of delays.

Meanwhile, Coinbase chief legal officer Paul Grewal said on April 2 that the CLARITY Act could be nearing a markup hearing in the US Senate Banking Committee. However, he noted that progress hinges on resolving disagreements over stablecoin yield.

Related: CFTC unveils innovation task force members in crypto clarity push

Regulators are also voicing their support for the legislation.

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US Securities and Exchange Commission (SEC) Chairman Paul Atkins said in a post on the same day that, “It’s time for Congress to future-proof against rogue regulators & advance comprehensive market structure legislation to President Trump’s desk.”

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