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XRP Boycott Movement Triggers Supply Crunch On Coinbase Following CLARITY Act News

XRP investors are rapidly withdrawing their tokens from Coinbase, causing a sharp decline in the exchange's available supply. This movement is a form of boycott triggered by two main issues: Coinbase's alleged opposition to the CLARITY Act and claims it requested millions from Ripple to list XRP in 2019. Supply has plummeted by nearly 90% in months, with net outflows reaching up to 95 million XRP. Analysts warn this could lead to a supply shock if buying pressure returns. Amid the volatility, price predictions for XRP vary widely, with conservative targets for this cycle between $5-$15 and more optimistic forecasts reaching up to $40.

bitcoinist04/02 01:02

XRP Boycott Movement Triggers Supply Crunch On Coinbase Following CLARITY Act News

bitcoinist04/02 01:02

Boycott Urged For CLARITY Act Draft: Expert Raises Concerns Over Banks Manipulation

The CLARITY Act draft faces strong opposition from crypto advocates who argue that banking lobbyists have manipulated the bill to undermine the industry. A key point of contention is a ban on stablecoin issuers, like Circle and Ripple, from offering yield payments to passive token holders. Market expert Nick Cash urges a boycott, warning this gives traditional institutions a competitive advantage and threatens DeFi innovation. Banking groups claim such yields risk financial stability by potentially drawing deposits away from insured banks. However, crypto advocates, including the Blockchain Association's Summer Mersinger, counter that this is anti-competitive and stifles consumer choice. Data indicates strong public support (nearly 4-to-1) for allowing stablecoin rewards, with little desire for government restrictions. The act's future remains uncertain as debates over banking oversight in crypto continue.

bitcoinist01/15 12:50

Boycott Urged For CLARITY Act Draft: Expert Raises Concerns Over Banks Manipulation

bitcoinist01/15 12:50

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