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HTX Denies UK Sanctions Allegations as Data Links Exchange to Russia‑Linked Flows

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HTX Denies UK Sanctions Allegations as Data Links Exchange to Russia‑Linked Flows

Sanctioned crypto exchange HTX is pushing back against the United Kingdom’s decision to blacklist Huobi Global S.A., the Panamanian company behind the platform, over allegations it helped Russia move money through a shadow “A7” network.

In its latest Russia sanctions package on May 26, the UK accused Huobi Global of providing financial services and economic resources to entities already under restrictions for supporting Moscow’s war economy.

The government said it was targeting “crypto and illicit finance networks” exploited by Russia, including the Kremlin-backed A7 “shadow” system that helps channel funds into the country’s war economy.

The sanctions and new blockchain analysis highlight growing Western concern that Russian-linked actors continue to use major crypto platforms to move funds despite sweeping restrictions imposed since Moscow’s invasion of Ukraine.

The package of 18 designations targets A7-linked infrastructure, including a Kyrgyz bank and what the Foreign Office described as “a major global cryptocurrency exchange” suspected of funnelling more than $1.5 billion back into the Kremlin’s hands, subjecting them to UK asset freezes and bans on the provision of financial services.

UK sanctions include Huobi Global. Source: UK government.

In a Tuesday post on X, HTX argued the designation applies only to Huobi Global as a separate legal entity and said its online exchange and user funds remain unaffected. However, a new blockchain analytics report shared with Cointelegraph Wednesday claims the platform processed billions of dollars tied to Russian counterparties and darknet markets.

UK pressure mounts on HTX

Global Ledger said the exchange processed about $21.06 billion in “high-risk” crypto flows between 2021 and May 2026. Of that total, at least $7.64 billion was linked to Russian high-risk entities and darknet markets, including Garantex, its successor Grinex, A7A5 and the now-defunct Hydra marketplace, alongside other sites such as Kraken darknet and Mega darknet.

Related: US sanctions Sinaloa cartel-linked Ethereum addresses

The report also flagged sizeable flows involving Huione Group, Nobitex, Hezbollah and North Korea-linked Lazarus, suggesting HTX’s exposure may extend beyond Russia.

UK officials on Tuesday said HTX helped move about $1.5 billion back to Russia’s coffers, according to Bloomberg, a fraction of the more than $7.6 billion in Russia-linked flows estimated by Global Ledger, based on multi-year onchain tracing of Bitcoin, Ether and Tether on Tron.

HTX processed funds linked to high-risk entities. Source: Global Ledger

The UK’s Financial Conduct Authority has also been tightening the screws on HTX. It began High Court proceedings in October 2025 against Huobi Global and individuals said to control it, alleging they illegally promoted crypto trading services to UK consumers in breach of the country’s strict financial promotion rules.

HTX has rejected the UK’s allegations, saying the designation targets a separate legal entity and stressing its commitment to full compliance and cooperation with law enforcement agencies.

The exchange said global operations are running normally and that user funds remain safe, while Global Ledger’s analysis argued that sanctioned Russian networks have continued to tap liquidity on major centralized exchanges despite mounting restrictions.

Cointelegraph reached out to both HTX and Global Ledger for further comment on the report and the UK measures, but did not receive responses by publication.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026

BIS’ Project Agora finds tokenization could make cross-border payments faster, safer

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BIS’ Project Agora finds tokenization could make cross-border payments faster, safer

A major experiment led by the Bank for International Settlements (BIS) found that tokenization could help fix some of the biggest pain points in cross-border payments, from slow settlement times to costly reconciliation between banks.

Project Agorá, a joint effort between the BIS, seven central banks and more than 40 private financial institutions, concluded that tokenized central bank reserves and commercial bank deposits could support atomic settlement across currencies and jurisdictions.

Atomic settlement refers to transactions completing on an “all-or-nothing” basis, reducing the risk that one side of a cross-border payment fails while the other succeeds.

The initiative involved the Federal Reserve Bank of New York, Bank of England, Bank of Japan, Swiss National Bank and other central banks alongside large commercial banks and financial firms.

Project Agorá participants now plan to move beyond simulations toward testing real-value transactions involving some currencies and institutions. The Bank of Canada also joined the initiative this week.

The findings landed as global banks and asset managers ramp up their own tokenization efforts. DTCC, Wall Street’s clearing house, plans to roll out its tokenized settlement infrastructure for stocks, ETFs and U.S. Treasuries, while Nasdaq and NYSE-owner Intercontinental Exchange are both developing blockchain-based systems for tokenized stocks.

A cross-border transfers can bounce between several intermediary banks before reaching its destination at present, often taking days to settle and creating operational risks along the way. Using tokenization and blockchain rails could mean fewer delays and failed payments in the global financial system, the report showed.

The BIS, often described as the “central bank for central banks,” has become increasingly active in blockchain and tokenization research as governments and financial firms rethink how money and securities move globally.

The agency, however, warned that stablecoins — digital currencies tied to fiat money issued on blockchain by private companies — could pose risks to the financial system, urging to speed up efforts to regulate the sector.

Why the Senate must finish the job on digital Assets

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Why the Senate must finish the job on digital Assets

At the recent Senate Banking markup of the Digital Asset Market Clarity Act (CLARITY), Senator Angela Alsobrooks (D-MD) shared a story that should resonate with every parent in America. She spoke about her twenty-year-old daughter and her daughter’s generation – their intuitive interest in digital assets and their desire for a modern financial system that offers both opportunity and protection.

It underscored the growing urgency and gravity surrounding digital asset policy in Washington. “The digital revolution is upon us,” Senator Alsobrooks said. “It’s happening with us or without us. We have a responsibility to regulate it to create rules of the road.”

Her remarks reflected the growing recognition that the U.S. can no longer afford to approach digital asset policy reactively. This legislation is not just about the America of today; it is about tomorrow. We owe it to our children and the younger generation to get this policy right.

Chairman Tim Scott framed the debate through the lens of opportunity, faith and the American dream for working families. Senator Cynthia Lummis, one of Congress’s earliest bitcoin champions, emphasized the bipartisan work behind the legislation. Even senators who withheld support at this time, including Senator Lisa Blunt Rochester, spoke thoughtfully about how engaged her constituents are with this technology and emphasized the importance of legislation that ensures their protection.

The question now facing us is whether the U.S. will lead in shaping that future or will neglect that responsibility.

The 15-9 vote to advance Clarity to the Senate floor underscores three critical realities for the future of the American economy.

First, serious bipartisan policymaking regarding digital assets is not only possible but is already happening. The markup was a testament to the fact that credible policy and thoughtful engagement can still move Washington forward. Even senators who ultimately did not vote in favor of the bill, including Senator Mark Warner (D-VA), expressed their intention to continue working toward a constructive path forward.

The desire of leaders like Senators Scott, Lummis, Tillis, Alsobrooks, Gallego, Hagerty, Moreno and others to bridge the gap – including on the complex issue of stablecoin yield – shows that a bipartisan path is the only durable way forward.

Second, digital assets and the blockchain are here to stay. As articulated throughout the hearing by Senators on both sides of the aisle, the debate over the viability of digital assets is over. The only question is whether the U.S. will lead in shaping the future of digital finance or cede that leadership to others.

Nearly 68 million Americans, about one in five, already own digital assets. New Harris polling shows the number has increased by 12 million in the past year alone, putting American holders closer to one in four. They are teachers, construction workers, veterans, entrepreneurs and small business owners, with a third Gen Z and another third millennials. They use digital assets to send money to family members, make purchases and plan for their financial futures. Eighty-three percent of all American holders agree that stronger regulation is needed to protect consumers. Yet 88% of global crypto exchange activity occurs on foreign exchanges beyond U.S. supervision. Americans deserve the protections, clarity and oversight that only a federal framework can provide.

Finally, Congress must finish the job. The time is now. It is imperative that the full Senate act promptly.

The GENIUS Act established the payment layer through stablecoin legislation, but without Clarity to provide the market structure, trading platforms oversight and asset classification needed to support it, the U.S. risks leaving the job unfinished. As Treasury Secretary Scott Bessent has rightly noted, stablecoins without a broader market structure are a “foundation without walls.” If we fail to act, we risk sending the next generation of American innovation and the talent, investment and tech that comes with it, to foreign jurisdictions.

This important work is the industry’s responsibility as well. Comprehensive market structure will not arrive because we asked for it; it will arrive because we match the seriousness Congress has shown. The time is now to continue engaging substantively and constructively with concerns raised by members of Congress. Doing so is not the obstacle to the work; it is the work.

The markup proved that the momentum is with us. The resolve in that room showed that Washington recognizes the high stakes for American competitiveness and the future of digital finance. We have the mandate, bipartisan support, and the duty to ensure that the future of digital finance is unambiguously American.

America has long led the world because it has embraced innovation, markets and the rule of law. The window is open. The only question is whether we will close it on our terms.

A vote for Clarity is a vote for regulation – the rules this generation needs and the rules the next generation will inherit. Congress now has the chance to shape this technology rather than chase it. Let’s finish the job on the Senate floor.

Anchorage Digital, Falcon Finance Launch GENIUS-Ready fUSD Stablecoin

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Anchorage Digital, Falcon Finance Launch GENIUS-Ready fUSD Stablecoin

Anchorage Digital Bank, N.A. and Falcon Finance have launched fUSD, a U.S. dollar stablecoin aimed at institutional holders that want regulated stablecoin exposure without giving up all reserve-linked economics.

The product is being issued by Anchorage Digital Bank, N.A., while Falcon Finance will operate a separate rewards program for qualifying institutional holders. The companies said the structure targets an estimated 3% annual return, paid by Falcon under bilateral agreements, not by Anchorage as issuer or Ceffu as custodian.

The launch comes as stablecoins move deeper into the regulated financial system.

The GENIUS Act, signed into law in July 2025, created a U.S. framework for payment stablecoins, including reserve, disclosure and issuer requirements. It also prohibits stablecoin issuers from paying interest or yield directly to holders.

That restriction has become one of the most contested parts of the new regime.

Legal and policy analysts have noted that the law blocks issuer-paid yield, but leaves open questions around rewards offered by platforms, affiliates or third parties. The OCC’s proposed rules in 2026 sought to scrutinize such structures more closely, including arrangements where a related party pays rewards to holders.

fUSD targets idle institutional stablecoin balances

The core pitch behind fUSD is that institutional desks hold large stablecoin balances for settlement, collateral and trading liquidity, but typically earn nothing on those balances.

That creates a gap between the yield generated by stablecoin reserves and the return received by end holders.

Stablecoin supply has expanded sharply since 2024. The total stablecoin market cap is now over $323 billion, according to CoinMarketCap. And, dollar-backed stablecoins still dominates the overall market.

With short-term U.S. Treasury yields near 4%, the economics of reserve assets have become central to stablecoin competition.

Falcon Finance said fUSD is designed to share part of that reserve-linked value with qualified institutional holders while remaining inside the GENIUS Act framework. The stablecoin will launch on Ceffu’s institutional custody and collateral infrastructure.

Falcon Finance will also be a launch holder, deploying part of its own corporate reserves into fUSD from the start.

Why the structure matters

The product tests how far stablecoin issuers and commercial partners can go in restoring yield-like economics without breaching the GENIUS Act’s issuer restrictions.

Anchorage Digital Bank issues fUSD.

Falcon Finance pays rewards separately, under contracts with eligible institutional entities. The companies say those rewards are not paid by Anchorage, and are not built into the stablecoin itself.

That distinction is important.

The GENIUS Act was designed to make payment stablecoins resemble digital cash rather than money-market funds. But the market still has strong demand for dollar instruments that combine settlement utility with some form of return.

Andrei Grachev, founding partner of Falcon Finance, said the desks Falcon works with operate under compliance mandates that “synthetic and offshore stablecoins were never designed to satisfy,” while regulated dollars available to them “pay them nothing.”

“fUSD closes both gaps,” Grachev said. “It’s issued by a federally-chartered bank, backed by Treasuries, launched on the infrastructure these desks already use to manage collateral, and built so qualifying institutional holders can share in the economics of the reserves. We’re putting our own balance sheet behind it from day one.”

Nathan McCauley, CEO and co-founder of Anchorage Digital, marked the launch as a regulated-stablecoin use case for institutions.

“fUSD is built from the ground up for institutional use, and that’s only possible because of our federal bank charter,” McCauley told AlexaBlockchain.

“Falcon Finance is exactly the kind of partner the GENIUS framework was designed to serve: sophisticated, institutional, and choosing to operate inside U.S. regulation rather than around it,” McCauley added.

Anchorage leans on its federal charter

Anchorage Digital became the first crypto company to receive a federal bank charter from the Office of the Comptroller of the Currency in 2021.

That status is central to fUSD’s positioning.

Institutional stablecoin adoption depends on custody, reserve transparency, legal status and compliance controls. For treasury desks, hedge funds and market makers, the issuer matters as much as the token’s liquidity.

Anchorage’s role gives fUSD a federally regulated issuance layer.

Ceffu provides the custody and collateral infrastructure. Falcon said that matters because institutional trading firms already use such infrastructure to manage collateral and settlement workflows.

Ian Loh, CEO of Ceffu, said the integration brings “institutional-grade custody and collateral utility” to fUSD and supports Falcon’s effort to expand stablecoin adoption among institutions.

fUSD stablecoin is not emerging in a vacuum

PayPal introduced rewards for PYUSD holders in 2025, offering 3.7% annually in PYUSD through PayPal and Venmo, with rewards paid monthly. PayPal’s current help pages describe PYUSD rewards as variable and based on average daily balances.

Coinbase and other platforms have also used USDC rewards as an adoption tool, though such programs have become part of the broader policy debate over whether third-party rewards undermine the GENIUS Act’s ban on issuer-paid yield.

Outside regulated payment stablecoins, the market has also seen growth in yield-linked dollar products.

Ethena’s USDe, for example, is a synthetic dollar built around crypto collateral and hedging strategies, while Ondo’s USDY is structured as a tokenized note backed by short-term U.S. Treasuries and bank deposits.

The difference is that fUSD is being positioned as a regulated payment stablecoin issued by a federally chartered crypto bank, not as a synthetic dollar or tokenized Treasury product.

That makes its rewards model more significant.

It could become a test case for how institutional stablecoins compete under U.S. rules, especially if regulators tighten the line between permissible commercial incentives and prohibited yield.

The bigger market signal

Stablecoins have become one of crypto’s most important real-world use cases.

They are used for trading collateral, cross-border settlement, treasury management and onchain payments. Their reserve portfolios have also made issuers major buyers of short-term government debt.

A 2026 BIS paper examined how dollar-backed stablecoin flows can affect short-term U.S. Treasury yields, underlining the growing link between stablecoin demand and traditional safe-asset markets.

That link explains why fUSD matters beyond one product launch.

The stablecoin market is no longer just competing on liquidity and exchange listings. It is increasingly competing on regulation, reserve economics, custody infrastructure and institutional usability.

fUSD expands Falcon’s product line beyond USDf, its overcollateralized synthetic dollar, into a regulated U.S. dollar stablecoin for compliance-constrained counterparties.

With fUSD, Anchorage Digital extends its federally regulated crypto banking model into one of the most lucrative areas of digital assets.

The above article “Anchorage Digital, Falcon Finance Launch GENIUS-Ready fUSD Stablecoin” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/anchorage-digital-falcon-finance-launch-genius-ready-fusd-stablecoin/

Read Also: Is India Moving From Crypto Uncertainty Toward a Clearer Policy Framework?

Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.

Image Credits: Anchorage Digital, Shutterstock, Canva, Wiki Commons

Italy’s Banca Sella Gets MiCA Approval for Crypto Services

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Italy’s Banca Sella Gets MiCA Approval for Crypto Services

Italian bank Banca Sella announced that it has completed its notification process with the Bank of Italy under the European Union’s Markets in Crypto-Assets (MiCA) regulation, allowing it to offer crypto-asset services.

On Wednesday, the bank said it is the first bank in Italy authorized to offer crypto-asset services, adding that the approval will allow it to launch a solution focused on the custody, transfer and receipt of digital assets in 2026, aimed at “selected categories” of customers.

Banca Sella is the commercial bank of Sella Group. According to Sella Group, it has almost 300 branches and more than 2,400 employees.

The approval gives Italy’s banking sector a regulated entry point into digital assets under MiCA, as European financial institutions move from crypto pilots and partnerships toward licensed custody, tokenized payments and stablecoin infrastructure. 

Andrea Tessera, managing director of digital banking at Banca Sella, said tokenization is contributing to a shift toward “instant, interoperable, and programmable” payments. He said the bank’s planned crypto service is part of that shift.

Sella announces MiCA approval. Source: Sella

Hype gave earlier crypto exposure

The MiCA approval is not Banca Sella’s first connection to crypto. Banca Sella also said in the announcement that its MiCA approval follows its participation in a distributed ledger technology pilot promoted by the Bank of Italy’s Fintech Milano Hub in 2022. 

Banca Sella said it has also created an internal DLT and digital assets team, and added that it’s also among the founders of Qivalis, a consortium of 37 European banks that plans to issue a euro-denominated stablecoin.

Related: Bank of Italy chief says banks, not stablecoins, anchor digital money

The bank also previously had crypto exposure through Hype, its digital banking brand, which integrated Bitcoin wallet services through Italian crypto firm Conio.

Conio said its first banking integration became operational in March 2020 through a partnership with Hype, Banca Sella Group’s digital banking brand. According to Conio, Hype went live in 2020 and allowed retail customers to buy, sell, send and receive digital assets.

Hype’s current website advertises a Bitcoin wallet that lets adult customers create a wallet and buy, sell or exchange Bitcoin directly from the Hype app. 

In 2024, Reuters reported that Banca Sella had around 1.3 million customers, while Hype served around 1.7 million customers.

Magazine: 50K investors fight Korean crypto tax, Singapore cancels Bsquared: Asia Express

Block kicks off Cash App’s phased stablecoin roll out to its nearly 60 million users

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Block kicks off Cash App’s phased stablecoin roll out to its nearly 60 million users

Block’s Cash App has quietly begun rolling out its highly anticipated stablecoin payment feature, a source familiar with the matter told CoinDesk Wednesday. According to this individual, the feature is now active for 25% of Cash App’s nearly 60 million users, with plans to scale to 100% by the end of the week.

Block did not immediately respond to a CoinDesk request for comment.

The launch marks an unprecedented ideological shift for Block’s leadership and changes how the platform handles digital fiat currency.

The source familiar with the matter said that integrating alternative blockchain rails indicates Block CEO Jack Dorsey, a historically staunch bitcoin maximalist, has changed his mind and now sees tangible value in these non-BTC networks.

As of this week, the total market value of stablecoins has reached a record $322 billion, surpassing the foreign exchange reserves of 95 countries, including developed economies like the United Kingdom and Canada.

The integration of a stablecoin payment method was first announced on the Cash App website late last year, saying it would be available in 2026.

Dorsey explained his shift in stance in March. The bitcoin purist announced his firm was reluctantly giving into stablecoins. “I don’t like that we’re going to support stablecoins but our customers want to use them,” he said. “I don’t think it’s wise to go from one gatekeeper to another.”

For years, Dorsey framed Block’s crypto strategy around Bitcoin alone, backing mining hardware development and integrating the asset into products such as Cash App.

The newly-released integration treats stablecoins strictly as a payment method rather than investment infrastructure, according to a statement on the Cash App website.

Users can deposit Circle’s USDC stablecoins from external accounts to fund their fiat Cash App balance or withdraw funds as stablecoins to external accounts, utilizing the blockchain entirely as a modern transaction rail.

According to official product documentation, the feature supports USDC across four networks, including Solana, Ethereum, Polygon, and Arbitrum. Because these blockchain transactions are entirely irreversible, any funds sent to incorrect addresses or unsupported networks will be permanently lost.

To use the feature, which is currently unavailable in New York and on sponsored accounts, identity-verified users face strict caps: a $2,000 daily ($5,000 weekly) sending limit and a $10,000 weekly receiving limit.

Polkadot Approves Validator Self-Stake Minimum of 10,000 DOT in Major Staking Upgrade

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Polkadot Approves Validator Self-Stake Minimum of 10,000 DOT in Major Staking Upgrade

Polkadot governance has approved a proposal to implement a 10,000 DOT validator self-stake minimum, making nominators unslashable and reducing unbonding periods from 28 days to as little as 24 hours.

Polkadot’s governance has approved a proposal to establish a 10,000 DOT minimum self-stake requirement for validators. The approved upgrade introduces significant changes to the network’s staking mechanics, including eliminating slashing risk for nominators and drastically reducing unbonding times from approximately 28 days to as little as 24 hours.

The proposal represents a comprehensive restructuring of Polkadot’s validator requirements and staking incentives. By setting a higher self-stake minimum, the protocol aims to increase validator commitment and security while simultaneously improving the user experience for token holders participating in the network through nomination.

The unbonding period reduction is one of the most substantial changes, allowing users to withdraw staked tokens significantly faster than the current timeline. Combined with nominator protection from slashing penalties, the upgrade is designed to make participation in Polkadot’s proof-of-stake consensus more attractive and user-friendly.

Sources: Polkadot (via X)

CoinDesk 20 performance update: Internet Computer (ICP) Jumps 9.8%

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CoinDesk 20 performance update: Internet Computer (ICP) Jumps 9.8%

Stellar (XLM), up 1.7%, joined Internet Computer (ICP) as a top performer.

Here’s Why Analysts say XRP Price is Extremely ‘Undervalued’ at $1.30

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Here’s Why Analysts say XRP Price is Extremely ‘Undervalued’ at $1.30

XRP (XRP) is down roughly 64% from its July 2025 multi-year high, but several onchain and technical indicators suggested the altcoin was due for a “strong price rebound.”

Key takeaways:

  • XRP’s MVRV ratio fell to -47%, a level historically linked to strong market rebounds and accumulation.
  • XRP Ledger transaction spikes suggest rising network activity and a possible macro price floor near $1.30-$1.50.
  • XRP’s bullish falling wedge pattern projects a 134% price breakout to $3.10.

MVRV ratio: XRP is in an “extreme undervalued” zone

XRP’s market value realized value (MVRV) ratio, or the market cap divided by the realized cap, has dropped to levels that have historically aligned with accumulation zones and market bottoms.

The chart shows that XRP’s 30-day MVRV has now fallen to -47%, its lowest level since December 2020.

Related: XRP price risks 50% drop despite 9-day ETF inflow streak

This suggests that fear and frustration among investors have “reached rare extremes that have historically preceded strong rebounds,” onchain data provider Santiment said in a Tuesday post on X, adding:

“Historically, MVRV’s (average trading returns) will always average out to 0%, making this current level an extreme undervalued zone for $XRP. ”

XRP MVRV ratio. Source: Santiment

Deeply negative MVRV readings tend to appear when retail traders have largely given up, creating conditions where even small positive catalysts can trigger strong rallies.

While weak MVRV readings alone do not guarantee complete trend shifts, they “often signal that the majority of panic selling has already occurred and downside risk becomes more limited compared to potential upside,” Santiment added.

Meanwhile, XRP’s MVRV Z-score is hovering near zero, a level that historically aligns with accumulation zones and market bottoms, according to data from Glassnode.

XRP MVRV Z-score vs. price. Source: Glassnode

The last time XRP’s MVRV Z-score fell to similar levels in late 2024, it coincided with a macro market bottom at $0.30 before a rally of 500% to a multi-year high above $3. The gains were 215%, 94% and 1,050% in 2023, 2022 and 2021, respectively.

Analyst: XRP price “creating stable macro floor”

The XRP Ledger saw a massive transaction volume spike in April, suggesting that “deep ecosystem activity and accumulation are quietly building beneath the surface,” CryptoQuant analyst TopNotchYJ said in a Monday Quicktake note. 

“Massive, vertical spikes in transaction counts serve as early network leading indicators, predating explosive price expansions,” the analyst added.

In November 2019, a surge in transaction count preceded the 2021 rally from $0.15 to $1.79 (nearly 1,200%). A similar dynamic played out in July 2024, with a gain of 600% to its eventual cycle peak of $3.17 in mid-2025 from $0.50.

XRP is currently consolidating within the crucial $1.30–$1.50 accumulation zone, and the massive network spikes suggest that the price is “creating a stable macro floor,” the analyst said, adding:

“If history repeats and this current consolidation solidifies into a launchpad, a conservative 5x macro projection positions XRP’s next major target area between $7.50 and $8.00.”

XRP Ledger transaction count. Source: CryptoQuant

As Cointelegraph reported, other key XRP Ledger metrics, such as record whale wallet and monthly transaction counts, suggest that the XRP/USD pair was primed for a strong upward move. 

XRP falling wedge breakout targets $3.10

XRP price action is trading within a falling wedge pattern on the weekly chart, a structure typically associated with bullish reversals after a prolonged downtrend.

The price has been compressing between two descending trendlines since July 2025, with the lower boundary now being key support near the $1.30 psychological level

XRP/USD weekly chart. Source: Cointelegraph/TradingView

Meanwhile, the weekly relative strength index (RSI) has recovered from oversold conditions, suggesting that sellers are losing momentum. Historically, similar RSI conditions have preceded strong rebounds in XRP.

For example, XRP rallied as much as 660% between July and December 2024 following the RSI’s recovery from near oversold conditions. The gains were 95% in mid-2022.

A confirmed breakout above the wedge’s upper trend line at $1.50 could open the way for a run toward the measured target of the prevailing chart pattern at $3.1, about 134% above the current price. 

As Cointelegraph reported, buyers will have to break and sustain the XRP price above the $1.40-$1.60 resistance zone on the daily chart to confirm a long-term trend shift.

Live markets: Bitcoin remains under pressure as Korea's SK Hynix joins Micron in $1 trillion club

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Live markets: Bitcoin remains under pressure as Korea's SK Hynix joins Micron in $1 trillion club

Memory-chip stocks are attracting capital and attention as crypto markets settle into apathy.

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