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Technical Analysis OverviewXRP jumps 11% in the 24-hour period ending August 11, moving from $2.90 to highs of $3.27 before settling at $3.22. The breakout comes as institutional trading volumes spike 208% to $12.40 billion following the formal dismissal of the SEC’s case against Ripple Labs. Open interest in derivatives rises 15% to $5.90 billion, underscoring aggressive positioning from large players.Price action shows early-session volatility, with a sharp drop from $3.24 to $3.16 during the 07:00 hour on 144.54 million volume. Buyers defend the $3.15-$3.16 zone, triggering a late-session push that breaks $3.22 resistance and holds above $3.24 into the close.News BackgroundThe Securities and Exchange Commission and Ripple Labs officially ended their multi-year legal battle, jointly dismissing appeals in the...

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.Chronicle, the oracle infrastructure provider powering secure, scalable onchain financial data, has been named the exclusive partner to Grove Protocol, an institutional-grade credit platform with a $1 billion tokenized asset allocation strategy.Grove, part of the Sky ecosystem known as a 'Star', the name Sky uses for units in its network, launched in June with a $1 billion allocation to tokenized collateralized loan obligations such as the Janus Henderson Anemoy AAA CLO Strategy on Centrifuge, aiming to bridge DeFi...

JPMorgan remains bullish on U.S. stocks even as some observers warn that the economy is beginning to pay the price for President Donald Trump's tariffs.The investment banking giant forecasts that the S&P 500, Wall Street's benchmark index, will yield a "high single-digit return over the next 12 months," driven by three key factors.One of the main reasons for optimism is that markets don't care about signs of an economic slowdown. Instead, traders are focused on resilient corporate earnings and the subsequent economic recovery.Since President Trump fired the first tariff salvo on April 2, economists have downgraded full-year U.S. growth forecasts from 2.3% to 1.5%. Still, the S&P 500 has gained over 28% in the four months. The index has held...

BlackRock has made bold moves into bitcoin and ether ETFs, but on Friday the asset manager said it had no immediate plans to file for a spot XRP exchange-traded fund (ETF), dashing the community’s hopes that its entry could help extend XRP’s 2025 rally.This statement — made the day after the U.S. Securities and Exchange Commission (SEC) and Ripple Labs jointly asked an appeals court to dismiss their respective appeals, signaling an end to their nearly five-year legal battle — has left investors questioning why BlackRock remains on the sidelines. While several asset managers, including ProShares, Grayscale, and Bitwise, have filed for XRP ETFs since late 2024, BlackRock’s absence is notable, especially given its dominance in the bitcoin and ether...

Bitcoin slipped 0.11% in the past 24 hours to $116,702, according to CoinDesk Data, but remains up 25% year to date, second only to gold’s 29% gain among major asset classes, according to data shared by financial strategist Charlie Bilello on X.2025 Performance so farAs of Aug. 8, bitcoin’s 25% year-to-date return ranked behind only gold’s 29.3% advance. Other major asset classes have posted more modest gains, with emerging market stocks (VWO) up 15.6%, the Nasdaq 100 (QQQ) up 12.7% and U.S. large caps (SPY) rising 9.4%. Meanwhile, U.S. mid caps (MDY) and small caps (IWM) 0.2% have only gained 0.8%, respectively. This marks the first time gold and bitcoin have occupied the top two positions in Bilello’s annual asset...