The altcoin industry, led by XRP and Cardano (ADA), followed the Bitcoin (BTC) price with a mild recovery in the past 24 hours.

As Coinpedia reported, the U.S. SEC acknowledged the role of XRP and Cardano in the country's digital economy. Whereby the agency noted that XRP will play a crucial role in state-level financial transactions, optimizing government payments, and enabling interbank liquidity.

The cryptocurrency market showed signs of recovery on Saturday, with Bitcoin price leading the wider altcoin industry in mirroring gold bullish outlook as major stock indexes recorded mild rebounds.

The crypto FUD of the past few weeks was largely overshadowed by positive sentiment from the United States in the last two days.

Furthermore, the U.S. SEC acknowledged the role of XRP and Cardano in the country’s digital economy.

Whereby the agency noted that XRP will play a crucial role in state-level financial transactions, optimizing government payments, and enabling interbank liquidity.

On the other hand, the agency noted in the proposal that Cardano is best suited for academic credentialing, smart contracts for government services, and secure infrastructure management.

Factors Influencing Cardano and XRP Rally Today

Clear Regulatory Outlook from the U.S. SEC

The U.S. SEC has proposed regulations for the use of crypto tokens issued by state, county, and city governments to be sold to the public to finance infrastructure and other projects.

The proposal, which was opened for a 60-day public comment period on Friday, also suggests how to use blockchain technology for academic credentialing and smart contracts for government services.

The agency proposes that XRP, the native token of the Ripple payment network, be used for state-level financial transactions to optimize government payments and interbank liquidity.

“Congress may wish to consider legislation to create a new category of crypto token that can be issued by state, county, and city governments to be sold to the public to finance infrastructure and other projects,” the SEC said in the proposal.

The SEC also noted that Cardano, the smart contract platform founded by Hoskinson, is best suited for academic credentialing, smart contracts for government services, and secure infrastructure management.

Rising Adoption from Institutional Investors

Following the notable interest of Cardano by the United States, institutional investors have made strategic moves to adopt ADA before the anticipated altseason.

On Friday, Coinbase Global announced that it has filed with the U.S. CFTC to offer Cardano futures, with the product expected to go live on March 31, 2025.

The move comes after the exchange secured approval to provide Bitcoin futures in 2019.

Meanwhile, XRP has attracted notable attention from institutional investors led by several fund managers seeking to offer its spot ETF.

Some of the fund managers that have filed for spot XRP ETF include Grayscale, Bitwise, and 21Shares.

The interest in XRP follows the approval of three Bitcoin spot ETFs in early 2024.

Midterm Targets

ADA

From a technical analysis standpoint, ADA price, in the weekly time frame, has been forming a potential cup and handle formation, signaling a major bullish uproar ahead.

The large-cap altcoin, with a fully diluted valuation of about $33 billion and a 24-hour average trading volume of about $936 million, surged 2.8 percent in the last 24 hours to trade around $0.739 on Saturday, March 15, 2025.

In the lower time frame, ADA price has been consolidating in a symmetrical triangular pattern, signaling a potential breakout ahead.

The handle is expected to form at around $0.6 to $0.65, which is the final point of price rejection ahead of the potential cup and handle breakout.

On the other hand, XRP price is well positioned to reach $15 in the coming months, according to crypto analyst Ali Martinez.

The analyst noted that XRP price has gathered significant bullish sentiment in the past six years of triangular consolidation.

XRP price is currently testing the lower boundary of the triangle, which could lead to a strong breakout towards the upper boundary at around $15.

The post Cardano, XRP Set For A Massive Uproar As U.S. Officials Show Interest In Both Tokens appeared first on Chainpedia.

The post Cardano, XRP Set For A Massive Uproar As U.S. Officials Show Interest In Both Tokens appeared first on Chainpedia.