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Where Is XRP Heading Next After 5% Weekly Increase?

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Where Is XRP Heading Next After 5% Weekly Increase?

XRP remains under pressure on both the USDT and BTC pairs, with the broader trend still leaning bearish despite some short-term stabilization. Buyers are defending key support zones for now, but the asset still trades below major resistance levels and has yet to show a convincing trend reversal.

Ripple Price Analysis: The USDT Pair

On the XRP/USDT chart, the asset is still moving inside a broad descending channel, which keeps the daily structure bearish. XRP is trading around $1.41 and remains below both the 100-day and 200-day moving averages, while the dotted trendline and the $1.80 zone continue to cap rebounds.

The main support remains the $1.20 area, which aligns with the lower boundary of the channel and has held recent downside attempts. If buyers manage to reclaim the $1.80 level and the 100-day moving average nearby, the next major resistance sits near $2.40 to $2.50, but until then, the market structure still favors sellers. The RSI has also recovered slightly, though momentum is still not strong enough to suggest a sustained bullish reversal.

The BTC Pair

Against Bitcoin, XRP also remains weak and continues to trade below both the 100-day and 200-day moving averages. The pair is currently sitting around 1,990 sats, right at the important horizontal support zone near 2,000 sats, while the 2,400 to 2,450 sats region remains the key resistance area overhead.

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As long as XRP stays below that resistance cluster, the BTC pair remains structurally bearish. A breakdown below 2,000 sats could send the pair toward the lower support around 1,500 sats, while a recovery above 2,400 sats would be needed to improve the outlook and open the path toward 2,700 to 2,800 sats. For now, the trend still points to relative weakness versus Bitcoin.

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Crypto World

Kalshi Suffers Court Loss in Ohio over Sports Betting Lawsuit

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Law, CFTC, Court, Kalshi, Prediction Markets

The prediction markets platform argued for an injunction against Ohio authorities, claiming that federal commodities laws superseded state laws on sport event contracts.

An Ohio federal court has denied a motion filed by prediction markets platform Kalshi for a preliminary injunction against Ohio state authorities over allegations that the company was operating in violation of gambling laws.

In an order filed Monday, US District Court for the Southern District of Ohio Chief Judge Sarah Morrison denied Kalshi’s request for an injunction that would have blocked the Ohio Casino Control Commission and state attorney general from regulating contracts on the platform, specifically for sports betting.

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According to the judge, Kalshi had failed to show that the sports event contracts available on the platform were subject to the “exclusive jurisdiction” of the Commodity Futures Trading Commission (CFTC).

“Even if this Court were to find that sports-event contracts are swaps subject to the CFTC’s exclusive jurisdiction, Kalshi has not shown that the [Commodity Exchange Act, or CEA] would necessarily preempt Ohio’s sports gambling laws,” said the opinion and order, adding:

“Kalshi argues that Ohio’s sports gambling laws are field and conflict preempted by the CEA when it comes to sports-event contracts traded on its exchange […] Kalshi fails to establish that Congress intended the CEA to preempt state laws on sports gambling.”

Law, CFTC, Court, Kalshi, Prediction Markets
Source: Courtlistener

The denial pushed back against the narrative from CFTC Chair Michael Selig, who said in February that the federal regulator had “exclusive jurisdiction” over prediction markets and threatened lawsuits against any authority claiming otherwise. Kalshi and prediction platforms face lawsuits in other US states over similar allegations involving unlicensed sports betting.

“This Court does not endeavor to explain why the CFTC has not exercised its authority […] with respect to the sports-event contracts,” said the Monday filing in Ohio. “But the agency’s inaction is not proof that the sports-event contracts are regulated by or permissible under the CEA—and the Court has concluded they are not.”

Related: CFTC chair backs blockchain-based prediction markets as ‘truth machines’

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In a statement to Cointelegraph, a Kalshi spokesperson said that the company “respectfully disagree[d] with the Court’s decision, which splits from a decision from a federal court in Tennessee just a few weeks ago, and will promptly seek an appeal.”

CFTC guidance on prediction markets could be looming

Last week, Selig said that the federal regulator was working to provide guidance regarding prediction markets “in the very near future.” The CFTC chair is the sole Senate-confirmed commissioner in a panel normally consisting of five people.

Magazine: The debate over Bitcoin’s four-year cycle is over: Benjamin Cowen

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