Daily Crypto Signals: Bitcoin Breaks Higher, XRP Faces Lawsuit

The crypto market is showing significant upward movement today, with Bitcoin BTC/USD surging to multi-week highs and strengthening its divergence

The crypto market is showing significant upward movement today, with Bitcoin surging to multi-week highs and strengthening its divergence from traditional assets.

This week the market for cryptocurrencies displayed fresh vigor as Bitcoin hit a 45-day high above $91,000 in response to indications of world trade tensions relaxing. The spike matched gold reaching new all-time highs, a figment of ongoing investor anxieties over a potential economic downturn despite some positive economic data.

Originally known as Janover, Defi Development Corporation has largely shifted its crypto treasury strategy by adding 88,164 Solana (SOL) tokens valued at $11.5 million, hence increasing its total Solana holdings to $34.4 million. This action marks a strategic change from the company’s prior emphasis on real estate financing to an expanded focus on crypto.

This move comes as former Kraken executives took over the company earlier this month. The announcement also highlighted the increasing interest from institutional investors in digital assets beyond Bitcoin, which in turn drove the shares of the company up by 12.83%.

However, regulatory difficulties in the crypto industry still persist. In another development, Oregon Attorney General Dan Rayfield sued Coinbase for allegedly selling XRP and several other digital assets as unregistered securities. Chief legal officer Paul Grewal of Coinbase has criticized the case, which fits what the Oregon Department of Justice said was an attempt to “fill an enforcement vacuum being left by federal regulators.”

Following his approval by the Senate on April 9, Paul Atkins has been sworn in as the 34th chairman of the U.S. Securities and Exchange Commission (SEC), thus marking a major change in regulatory leadership. Previously an SEC commissioner from 2002 to 2008, Atkins is generally seen to provide a more crypto-friendly regulatory climate compared to his predecessor Gary Gensler.

Bitcoin Price Decouples From Stocks As It Rises Past $93K

Bitcoin BTC/USD price today is up as the coin breaches the $93,414 mark, marking a 45-day high and showing signs of decoupling from traditional stock markets. Despite this remarkable price increase, futures markets still indicate a somewhat cautious attitude; the annualized premium stands at about 6%, below the range usually observed in very optimistic scenarios.

Relative to the S&P 500’s 14.5% decline from its peak, the bitcoin price is currently down 16% from its all-time high. But even at its lowest point below $75,000, Bitcoin’s 32% downturn was less severe than those sustained by leading tech companies like Nvidia, Amazon, Facebook, and Tesla.

Although some traders remain wary since Bitcoin failed to sustain levels above $90,000 in early March, market watchers are now targeting the $95,000 level as a key resistance point. Especially if trade tensions between the United States and China continue to ease following recent remarks by Treasury Secretary Scott Bessent regarding the tariff standoff being “unsustainable,” a clear rise above this level could signal the beginning of another surge.

XRP Faces Lawsuit Pressure And Analysts Debate ‘Price Trap’

In other crypto news, XRP XRP/USD is trading at $2.21 in the face of increasing discussion about the token’s future. While some analysts claim the token is still down 30% from its 2025 high, despite having “the most fundamentals in its history,” this fuels speculation on its potential as an investment.

Countering the “XRP is dead” narrative, crypto expert 589Bull argues that the digital asset is being integrated into the upcoming financial system. Using XRP, the analyst says Ripple is “building the rails, atomizing liquidity, mapping corridors, and bleeding retail” to position institutions, bots, and insiders for future advancements.

However, regulatory difficulties for XRP persist; this is evident in the case Oregon Attorney General Dan Rayfield filed against Coinbase that specifically names XRP as an unregistered security.

Chief legal officer Paul Grewal of Coinbase has criticized the case, which fits what the Oregon Department of Justice said was an attempt to "fill an enforcement vacuum being left by federal regulators."

Following his approval by the Senate on April 9, Paul Atkins has been sworn in as the 34th chairman of the U.S. Securities and Exchange Commission (SEC), thus marking a major change in regulatory leadership. Previously an SEC commissioner from 2002 to 2008, Atkins is generally seen to provide a more crypto-friendly regulatory climate compared to his predecessor Gary Gensler.