Key Insights:
- 1 million CTF tokens approved for burn on XRP Ledger, scheduled for May 3.
- XRP forms Golden Cross pattern, echoing the setup before 2024’s price rally.
- GENIUS Act passes Senate vote, boosting stablecoin regulation and XRP interest
The XRP ecosystem is gaining momentum from three major catalysts: a scheduled 1 million CTF token burn, a bullish Golden Cross pattern on XRP’s chart, and the passage of the GENIUS Act in the U.S. Senate. Together, these developments could support continued interest in XRP/USD heading into May.
1 Million CTF Tokens Approved for Burn on May 3
Official approval from the Operations and Network Development Team will see 1,000,000 CTF tokens burned on the XRP Ledger on May 3, 2025. This is part of the larger operational strategy to make the XRP-based reward system efficient and sustainable in the long run.
The announcement also confirms that the burn will be publicly made and will help support the evolving payment rewards framework of the XRP ecosystem. This is also related to the attempt to improve the reward mechanism by reducing the supply of tokens and increasing its use in platforms.
CryptoTradingFund noted that the token burn is part of a plan to bridge CTF tokens across multiple blockchains. The bridging mechanism between XRP Ledger and Polygon has already launched and is in beta testing. This could enhance the multi-chain functionality and add additional value to the token holders.
GENIUS Act Passes, Boosts Regulatory Clarity for Stablecoins
On the regulatory side, a significant development took place as the GENIUS Act passed a vote in the Senate Banking Committee with 18 in favour and 6 against. The update was shared by Jeremy Allaire and described it as a “massive move” that could provide more regulatory clarity for stablecoins in the U.S.
The GENIUS Act seeks to provide legal grounds for digital currencies such as RLUSD, which many believe could become one of the most compliant stablecoins in the market. Increased regulatory certainty will bring in institutional participation, especially in networks like XRP that are focused on compliance and utility.
The 2024 price setup for XRP mirrors its golden cross.
On the other hand, XRP has formed a Golden Cross on the daily chart, a setup that has previously led to a strong rally in late 2024. When the Golden Cross appeared in last year’s cycle, it was followed by a price breakout from a flat trading zone and a sharp price rise.
The same pattern is being shown by the current price action in April 2025. It is trading within a familiar range and the price is holding support just above $1.20. According to the analyst, price structure, Bollinger Bands, and volume trends are all lining up in a similar way as they did prior to the 2024 rally.
Amelie, an X user post, highlighted this comparison. Saying that the current XRP setup is “strikingly similar” to last year’s breakout structure. The recent lows are showing a strong horizontal support zone. And increasing buying interest, which could lead to an upside breakout.
XRP Short-Term Levels to Watch
On the 4-hour chart, XRP price is currently trading at $2.1425 with clear resistance at $2.1780 and strong support at $2.0060. Price has just come out of a downward red trend channel and is consolidating just below resistance.
Accumulation has been steady at 4.41B on the Accumulation/Distribution Line. After several sessions of red histogram bars, the Awesome Oscillator (AO) has turned positive and is currently at 0.0998. This implies that bullish momentum may be afoot.
Price could retest the $2.0060 level before moving above the $2.1780 zone, with targets at $2.56.
Furthermore, RippleXrpie also further fuelled expectations by reporting that Fred Rispoli. A legal expert well known for his XRP support, has said that a “big event” is expected to happen on or before April 16. He did not confirm whether it would be a major court filing or a settlement. But he said it was guaranteed.
Disclaimer
This article is for informational purposes only. Crypto investment involves inherent risks due to the volatility in price. Readers should conduct their research before making any investment decision. Also, you can consult a crypto expert before investing in cryptocurrencies.
