The Official Trump price dropped 2% in the last 24 hours to trade at $11.54

This decrease in the TRUMP price comes as US President Donald Trump is expected to sign off on a resolution undoing a rule that requires DeFi (decentralized finance) protocols to report to the IRS.

U.S. President Donald Trump is expected to sign off on a resolution that cancels a rule requiring DeFi (decentralized finance) protocols to report to the IRS, according to reports.

The Senate voted 70-28 on Monday to pass a motion repealing the IRS DeFi broker rule, which aimed to expand existing IRS reporting requirements to crypto. This follows the House of Representatives’ approval of the resolution last week.

The ruling, part of the administration’s attempt to broaden the tax net, would have required protocols in DeFi to collect and report on users’ transactions to the IRS if they facilitate more than 200 transactions in a year, or receive total transaction value over $20,000.

However, critics argued that the reporting obligations were overly broad and could have a chilling effect on the development of the nascent DeFi sector.

The Senate’s vote to overturn the rule comes after bipartisan concerns were raised over the rule’s potential to stifle innovation in the rapidly growing DeFi sector.

DeFi protocols typically rely on blockchain technology and smart contracts to offer financial services like lending, borrowing, and investing in a decentralized manner, aiming to reduce reliance on intermediaries.

The measure is now headed to Trump’s desk for his signature.

The Official Trump price dropped 2% in the last 24 hours to trade at $11.54 as of 4:04 a.m. EST on trading volume that jumped 9% to $472 million.

This decrease in the TRUMP price comes as U.S. President Donald Trump is expected to sign off on a resolution that cancels a rule requiring DeFi (decentralized finance) protocols to report to the IRS.

The Senate voted 70-28 on Monday to pass a motion repealing the IRS DeFi broker rule, which aimed to expand existing IRS reporting requirements to crypto. This follows the House of Representatives’ approval of the resolution last week.

The ruling, part of the administration’s attempt to broaden the tax net, would have required protocols in DeFi to collect and report on users’ transactions to the IRS if they facilitate more than 200 transactions in a year, or receive total transaction value over $20,000.

However, critics argued that the reporting obligations were overly broad and could have a chilling effect on the development of the nascent DeFi sector.

The Senate’s vote to overturn the rule comes after bipartisan concerns were raised over the rule’s potential to stifle innovation in the rapidly growing DeFi sector.

DeFi protocols typically rely on blockchain technology and smart contracts to offer financial services like lending, borrowing, and investing in a decentralized manner, aiming to reduce reliance on intermediaries.

The measure is now headed to Trump’s desk for his signature.

Official Trump Price Analysis: Potential Breakout On The Horizon?

The TRUMP price has been in a prolonged downtrend, trading within a falling wedge pattern characterized by lower highs and lower lows. If confirmed by a breakout above the resistance line, this pattern typically signals a potential bullish reversal.

The Official Trump price recently tested the lower boundary of this wedge and has since attempted to break upward.

The pattern formed by the labeled points (A, B, C, and D) suggests a series of corrective movements, leading to a tightening of price action near the end of the wedge, according to GeckoTerminal data. A breakout from this formation could trigger a strong, bullish move.

The 50 Simple Moving Average (SMA) on the 4-hour chart is currently at $11.34, while the 200 SMA is at $12.30. The price of Official Trump is hovering between these two SMAs, with a potential move above the 200 SMA acting as confirmation for an upward breakout.

Meanwhile, the Relative Strength Index (RSI) is currently at 50.95, which is a neutral level. This suggests that the crypto is neither overbought nor oversold, leaving room for a potential move in either direction.

TRUMP Price Prediction

According to the TRUMP/USDT Chart analysis, the Official Trump price indicates a measured move target of approximately 50% upside in case of an uptrend. The projected price increase of $5.91 suggests a potential rally toward the $17.50 region.

However, for this move to play out, the price of TRUMP needs to decisively break above the $12.30 resistance level (200 SMA). Buyers could step in if this occurs, pushing the price of Official Trump toward the next resistance level.

Conversely, if the Official Trump price fails to break out and remains within the wedge, the downtrend could persist, with support around the $10.50–$11.00 levels.

Investors are piling into a new Bitcoin-themed meme coin that is giving away free BTC.

99Bitcoins, a prominent