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XRP is gaining momentum among bulls as the U.S. Securities and Exchange Commission (SEC) dropped its long-standing lawsuit against Ripple Labs last week, marking a fundamental shift for the token.The resolution has sparked optimism among XRP watchers, with analysts eyeing a potential climb to $10 by 2030, driven by regulatory clarity, the adoption of Ripple’s RLUSD stablecoin, and the possibility of a Ripple Labs IPO.Bitget’s Ryan Lee noted a breakout from the current trading range of $2.35 to $2.55 could lead to extensive moves in either direction.“Short-term price targets range from $2.00-$2.17 on the downside to $2.65-$3.00 on the upside,” Lee said, adding, “Long-term forecasts suggest $4.20-$10+ by 2030 if Ripple capitalizes on payment adoption, though $2.50 remains a pivotal...

Donald Trump's presidential memecoin was the best performing digital asset, according to CoinGecko data, as of midday East Asia time, after Trump made a Truth Social post calling it "the greatest of them all" and "cool."Market data shows that in the minutes after Trump made the post, his eponymous cryptocurrency went from around $10.93 to approximately $12.25, for a 12% rise. After a brief sell-off, the $TRUMP token is trading at $11.91, or, up around 9%.According to CoinGecko, this makes it the best performing crypto of the Asia trading day. Ethena is up 8.9%, Bonk is up 8%, and Mantle is up 7% .The CoinDesk 20, a measure of the performance of the largest digital assets, is up around 2%.It's...

U.S.-based asset manager Fidelity Investments has filed paperwork to register a blockchain-based, tokenized version of its U.S. dollar money market fund, aiming to join the tokenized asset race.According to a Friday filing to the U.S. Securities and Exchange Commission (SEC), the company seeks to register an "OnChain" share class of its Fidelity Treasury Digital Fund (FYHXX) and use blockchains as transfer agent. FYHXX holds cash and U.S. Treasury securities and was launched late last year.The OnChain class of the fund currently uses the Ethereum (ETH) network, and the firm may expand to other blockchains in the future, the filing said. The registration is subject to regulatory approval, with the product expected to become effective on May 30.The filing happened as...

The U.S. Securities and Exchange Commission is looking to reset its relationship with the crypto industry, even before a permanent chair is confirmed by Congress. The latest effort was Friday's roundtable, hosted at the SEC's headquarters in Washington, D.C. and featuring a dozen attorneys representing different views and positions within the crypto industry.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.Ostrich farms and orange grovesThe narrativeThe SEC's reset began when Acting Chair Mark Uyeda launched a crypto task force and oversaw his agency withdraw Staff Accounting Bulletin 121, drop a number of ongoing lawsuits, pause a few more and publish multiple staff statements about how...

WASHINGTON, D.C. — The staff at the U.S. Securities and Exchange Commission has embraced the chance to finally work with the crypto industry to hash out policy for overseeing digital assets transactions, said Commissioner Hester Peirce, the head of the agency's crypto task force.The securities regulator is ready "to seek earnestly to find a workable framework," Peirce said at the agency's first crypto-focused roundtable on Friday. "I think we're ready for the spring ahead," she said, referring to the title of the day's event, the "Spring Sprint Toward Crypto Clarity."The task, according to Peirce: "Can we translate the characteristics of a security into a simple taxonomy that will cover the many different types of crypto assets that exist today and...