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Here is How High XRP May Reach with Possible Incoming Zero Capital Gains Tax

In a bold and optimistic tweet, the crypto analyst behind the The Modern Investor YouTube channel has suggested that a two-digit price target for XRP is “confirmed.”

The analyst claims that a confirmation of “no capital gains tax” by the U.S. government under Trump’s presidency would trigger a massive surge in the prices of major cryptocurrencies, particularly XRP and Cardano (ADA).

According to the tweet, the prices of XRP and ADA could skyrocket to $10 in the coming months—if not sooner.

The Power of Tax Policy on Crypto Prices

The idea of eliminating capital gains tax on crypto investments has long been a topic of discussion. Many investors believe such a policy would encourage more institutional and retail adoption by removing one of the biggest barriers to large-scale participation in the market.

Tax relief could theoretically push crypto prices to new heights as more people would feel incentivized to hold their investments without the looming threat of hefty tax bills.

While the claim from the Modern Investor is speculative, it taps into growing optimism about the future of crypto markets under favorable regulatory conditions.

In January, reports suggested that Eric Trump, Donald Trump’s son, confirmed that U.S.-based cryptocurrencies like XRP may be exempt from capital gains tax. Meanwhile, non-U.S. crypto projects could face taxes of around 30%.

This development aligns with ongoing discussions about the Trump administration prioritizing American crypto assets. Trump has officially announced that U.S.-based crypto assets like XRP, Solana, and Cardano will be part of the proposed national crypto Stock Pile.

In his tweet, The Modern Investor singled out XRP and ADA as potential winners. His $10 price prediction for both XRP and ADA suggests a favorable U.S. tax policy could lead to broader adoption of these cryptocurrencies.

Singapore PM Lawrence Wong Warns Against His Deepfakes Used to Promote Scam Tokens

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Singapore Prime Minister Lawrence Wong has encouraged due diligence amid growing images and deepfakes of him used to promote cryptocurrencies.

Blockchain technology and artificial intelligence have evolved significantly over the years, progressing from simple line codes to sophisticated capabilities. As their potential grows, so does the likelihood of misuse by malicious individuals.

Singapore’s Prime Minister Lawrence Wong has identified this trend, urging users to exercise caution before making any decision. In a tweet today, he highlighted the growing use of his deepfakes and images to promote scam tokens, advising due diligence.

Deepfakes Used to Sell Tokens

Wong stated that it has come to his notice that bad actors are leveraging AI to make images and videos of him promoting tokens. He also admitted to seeing some of those in his feed as fraudsters ride on his popularity to sell cryptocurrencies, money-making schemes, and permanent residency application services.

Meanwhile, the Singapore prime minister urged users to disregard such materials and not interact with the scammers. Furthermore, Wong encouraged users to report these bad actors to the necessary authorities and not share sensitive information with them.

He also shared screenshots of the circulating images and videos and branded them a scam.

Fake Materials Used to Promote Scam

Singapore Facilitates Efforts to Curb Crypto Scams

Wong’s post mirrors a broader effort by the Singaporean authorities to curb the growing number of cybercrimes in the city-state. In January, lawmakers passed a law allowing banks to freeze accounts of scam victims to prevent more losses.

In 2024, scam activities in Singapore rose by 11% to 51,501 due to increasingly sophisticated schemes. This caused victims to lose a record $827 million, up a staggering 70% from the previous year.

Moreover, this is not the first time a Singapore PM has warned against these demeaning acts; former PM Lee Hsien Loong brandished a similar call in 2023. Loong described these false images as very convincing yet completely bogus.

Elizabeth Warren Seeks Public Disclosure About David Sacks’ Investment in XRP, Bitcoin, and Cardano

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Senator Elizabeth Warren (D-Mass) raises concerns about David Sacks’ potential conflicts of interest in Trump’s digital asset policies, particularly those involving the creation of the U.S. Crypto Reserve. 

She expressed these concerns in a letter sent to Sacks after Trump announced the creation of the Strategic Bitcoin Reserve. 

Per the letter, Warren questions Sacks, the White House Crypto Czar, on how he intends to prevent Donald Trump and other wealthy insiders from benefiting from the administration’s crypto policies. 

Concerns About Sacks’ Investment in Crypto Reserve Assets 

The anti-crypto Senator referenced Trump’s recent decision to move forward with the digital asset reserve initiative over the weekend. She also highlighted how the prices of cryptos such as Bitcoin, Ethereum, XRP, Cardano, and Solana soared immediately after Trump announced they would be featured in the reserve. 

Yesterday, Sacks announced that Trump mandated the creation of a Bitcoin-only reserve and a digital asset stockpile for altcoins. However, he did not name the assets that will be featured in the stockpile. 

As a result, Warren emphasized that it is unclear whether this stockpile will feature only XRP, Cardano, Solana, and Ethereum or a broader set of tokens. 

Furthermore, she noted that Trump’s March 2 crypto reserve announcement and Sacks’ disclosure yesterday created market confusion. This raised questions about his investment in the five cryptos initially proposed for the reserve–XRP, Bitcoin, Cardano, Solana, and Ethereum. 

According to Warren, Sacks and Craft Ventures, an investment company he co-founded, invested in these assets through the Bitwise 10 Crypto Index Fund (BITW). 

“According to your Craft Ventures’ website, it initially invested in BITW. As of January 31, BITW’s top five holdings were BTC, ETH, XRP, SOL, and ADA–the same five tokens in President Trump’s announcements,” the anti-crypto Senator noted. 

Earlier this week, Sacks confirmed he sold his direct crypto holdings, including BTC, ETH, and SOL, before Trump’s inauguration. The Crypto Czar also disclosed that he sold his entire shares of the BITW fund, worth around $74,000, on January 22. 

Despite this claim, Warren questioned the timing of his divestment in Bitwise and asked whether his close associates benefited from the price swings caused by U.S. crypto reserve announcements. 

Warren Demands Answers to Key Questions 

Meanwhile, she asked Sacks to provide answers to a series of questions by March 14, 2025. Some include whether Sacks filed his financial disclosure with the Office of Government Ethics. 

The Senator asked him to disclose the timing of his divestment in SOL, BTC, ETH, and BITW and the identities of anyone with advanced knowledge of Trump’s Truth Social crypto reserve announcement on March 2. 

She also requests the identities of the people who helped Trump select the five crypto reserve assets, among other things. 

Warren Criticizes SEC’s Recent Crypto-Related Actions 

Besides the crypto reserve initiative, Warren highlighted the SEC’s recent decision to pause and dismiss crypto-related litigations as another action that may benefit wealthy insiders over regular taxpayers. 

She highlighted the SEC’s decision to pause its lawsuit against Tron Foundation, referencing the project’s founder Justin Sun’s investment in Trump’s family crypto project, World Liberty Financial.    

Notably, she mentioned that meme coins like TRUMP and MELANIA are major beneficiaries of the SEC’s recent statement indicating that most meme coins are not securities. 

Treasury Secretary on BTC Acquisition for Bitcoin Reserve: “We’ll Talk About the Way Forward”

Treasury Secretary Scott Bessent comments on the U.S.’s Bitcoin reserve acquisition strategy.

On Thursday, March 6, President Donald Trump signed an executive order establishing a U.S. Bitcoin reserve from assets it holds from seizures.

At the same time, the order authorized the Treasury Secretary and Secretary of Commerce to add to the reserve using “budget neutral strategies” that come at no additional cost to taxpayers.

The billion-dollar question that has followed this order is what the Trump administration means by “budget neutral strategies.” 

Treasury Secretary Scott Bessent was asked this on CNBC Television on Friday, March 7. Bessent’s answer, however, suggested that this was something even the Trump administration had yet to fully figure out.

“I’m going back to Washington this afternoon, and then we’ll talk about the way forward,” Bessent asserted, referring to Trump’s planned White House crypto summit.

The summit is set to see attendance from heads of relevant state departments, regulatory agencies and crypto industry leaders. Out of the lineup, the most consequential attendee regarding the U.S.’s Bitcoin acquisition strategy could be Strategy Chairman Michael Saylor.

In less than three years, the Bitcoin evangelist has spearheaded a Bitcoin treasury strategy at the company that has seen it acquire nearly 500,000 BTC worth $44.5 billion. The company has done so mainly using bonds with 0% interest.

Nonetheless, speaking with CNBC on Friday, Secretary Bessent suggested that Trump’s executive order had already achieved one thing: setting in motion steps to prevent further selling of the U.S. stockpile. 

“The first thing to do is to stop the selling. So we are going to, after the victims are paid, and all of that,” he stressed.

US Non-Farm Payrolls Reveal Fewer Jobs in February: Here’s How This Could Impact Bitcoin

The United States added less jobs than expected in February, potentially impacting the Federal Reserve’s rate decision and Bitcoin price action.

Particularly, the United States Non-Farm Payrolls (NFP) report for February emerged today. The data revealed a disappointing addition of just 151,000 jobs, falling short of the market’s anticipation of 160,000.

Meanwhile, the unemployment rate ticked up to 4.1%, slightly above the expected 4.0% and the previous month’s figure of 4.0%. This underwhelming labor market performance could have implications for Federal Reserve policy and, by extension, Bitcoin’s price trajectory. 

Bitcoin Current Position

Notably, Bitcoin has experienced downward pressure recently, driven by broader economic concerns. Tensions surrounding possible trade conflicts between the US and nations like China, Mexico, and Canada have unsettled markets. 

The asset briefly climbed to $92,000 on March 6, fueled by optimism, but soon retreated below $90,000. This decline followed President Donald Trump’s executive order on the Bitcoin reserve, which clarified that the reserve would not actively acquire Bitcoin unless funded through budget-neutral channels. 

At the time of writing, Bitcoin trades at $89,500, reflecting a modest drop of 0.37% on the day. However, the latest jobs data introduces a new factor that could push Bitcoin back toward the $90,000 threshold in the near term.

Federal Reserve’s Response to Jobs Data

For context, the Federal Reserve closely monitors NFP figures to gauge the health of the labor market, a major factor in its interest rate decisions. 

February’s weaker-than-expected job growth and rising unemployment suggest a cooling economy, which could prompt the Fed to adopt a more dovish stance. 

Historically, the Fed has adjusted rates in response to labor market trends. For instance, in December 2024, the Fed implemented a 25-basis-point rate cut, bringing the federal funds rate to a range of 4.25%–4.50%, marking its third reduction of the year. 

This move aimed to bolster economic growth amid signs of slowing employment. Looking back further, the Fed raised rates aggressively in 2022 and early 2023 to combat inflation, peaking at 5.25%–5.50%, before pivoting to cuts as inflationary pressures eased.

Bitcoin Could Leverage Rate Cuts

The next Fed meeting, scheduled for March 18–19, 2025, will likely determine the immediate direction of monetary policy. Market participants currently expect the Fed to hold rates steady, given the solid but not overheated labor market conditions. 

However, the subpar February NFP data might shift expectations. Notably, if subsequent reports confirm a weakening trend, the Fed could opt for a 25-basis-point cut as early as March or May. 

Lower interest rates typically weaken the US dollar and reduce Treasury yields, creating a favorable environment for risk assets like Bitcoin. Investors often turn to cryptocurrencies during periods of monetary easing, anticipating increased liquidity and diminished returns on traditional investments.

Bitcoin’s price performance has historically correlated with Fed policy shifts. When the Fed cut rates in late 2024, Bitcoin rallied, climbing from $70,000 in November to $108,000 by December. 

The prospect of another cut could trigger bullish momentum, especially if the dollar softens further. Conversely, if the Fed perceives the labor market as resilient enough to delay easing, Bitcoin might face prolonged consolidation below $90,000.

Shiba Inu to $0.001, Key Market Predictions You Need to See

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The Crypto Basic delves into key Shiba Inu to $0.001 price predictions.

Leading doggy-themed memecoin Shiba Inu (SHIB) broke into the limelight during the 2021 bull run when it closed the year with a staggering 45,000,000% gain. Since then, investors in the asset have continued to hope for a repeat of this success. After all, it is the reason most jumped in.

Amid these hopes, one particular price target has dominated discussions: $0.001. At a current price of $0.00001363, a surge to this level will represent an over 7,000% increase for SHIB.

Here are some instances where analysts have tipped the memecoin to clinch this milestone.

CRYPTO SHERIFF October 2024

In October 2024, highly followed crypto analyst CRYPTO SHERIFF tipped SHIB to be on course to hit the $0.001 price point after it broke out of a descending triangle chart pattern it had entered a month before.

Specifically, the analyst noted that the targets for the memecoin were $0.00002, $0.0002, and $0.001. At the time, SHIB was exchanging hands for $0.00001855. 

LuckSide Crypto September 2024

In September 2024, prominent crypto YouTuber LuckSide Crypto asserted that signs pointed to a SHIB breakout to $0.001.

Notably, these signs were significant whale purchases combined with perceived minimal upside resistance. At the time, the analyst noted that the $0.000016 level was the resistance level to watch.

Krao September 2024

Still, in September 2024, Krao, another highly followed analyst, tipped SHIB to hit the $0.001. 

The analyst shared the token’s monthly candle chart, contending that it was set to break above a downtrend it has been stuck in since 2021. Krao said the memecoin was on the verge of clinching the long-desired milestone between January 2025 and February 2025.

However, as of the time of writing on March 7, 2025, this has yet to materialize.

Armando Pantoja August 2024

In August 2024, highly followed crypto analyst Armando Pantoja predicted that FOMO (fear of missing out) was about to hit the SHIB market.

“It’s going to $0.001,” the analyst wrote, citing a divergence in the relative strength index and a potential breakout from a descending channel on the daily candle chart.

Coinpedia Markets July 2024

In July 2024, Coinpedia Markets asserted that SHIB could soar between 10x and 100x following the approval of spot Ethereum exchange-traded funds. This would have taken the memecoin to between $0.0001679 and $0.001679 at the time.

The analysis was based on the expectation that ETF inflows would send ETH soaring and spark similar rallies in correlated tokens.

How Realistic is the $0.001 Target?

The debate over whether or not the $0.001 price target for SHIB is realistic has been raging for years, especially as the memecoin will need a $589 billion market cap with its current circulating supply of 589 trillion tokens.

For many, the likely catalyst would be a massive spike in token burns. One factor that could drive this is the adoption of Shiba Inu’s Ethereum Layer 2 project, Shibarium.

Shiba Inu Holds Strong Above Key Support, Analyst Predicts Rally Toward $0.000020

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Shiba Inu (SHIB) maintains $0.000013 support, with analyst Martinez noting the potential for a rebound to $0.000020.

Shiba Inu’s price has experienced heightened market fluctuations, with its price currently at $0.00001337, marking a 1.7% decline in the past 24 hours. The token briefly dipped to $0.00001277 before recovering, demonstrating significant intraday volatility. Despite this, SHIB has remained above the critical $0.000013 support level, which has played a key role in stabilizing its price.

Over the past 14 days, SHIB has dropped 14.2%, extending its year-over-year losses to 55.2%. Despite these declines, slight gains of 0.7% in the past hour and 0.6% over the last week indicate potential stabilization.

Amid the volatile times for the memecoin, analysts continue to monitor key support and resistance levels to determine the token’s next move.

A price chart shared by expert analyst Ali Martinez highlights SHIB’s ability to sustain its position above $0.000013. If the token holds this level, an increase in buying pressure could drive prices higher. 

Historical trends reveal a significant rally in November, which pushed SHIB above the $0.000032 resistance level before a correction followed. Martinez suggests that maintaining the current support level could lead to a potential rebound toward $0.000020.

Technical Indicators and Long-Term Projections

Elsewhere, technical analysis by Javon Marks presents a broader perspective on SHIB’s potential price movement. The chart indicates a prolonged downtrend following its previous all-time high.

However, two breakout points suggest a shift in trend, signaling a move away from bearish conditions. The first breakout led to a moderate rally, while a subsequent retest of previous support reinforced its significance.

A hidden bullish divergence has also been identified, characterized by a higher low in price while indicators like RSI or MACD register lower lows. This pattern suggests potential bullish momentum, which may support further price increases.

Marks sets a primary upside target at $0.000081, projecting a possible 503.13% surge from its current price.

Sequential Price Targets and Ownership Trends

Another analyst, CryptoElites, outlined sequential price targets, placing SHIB’s next potential levels at $0.000085171, $0.000183312, and $0.000472905. The analysis suggests a positive outlook as Bitcoin dominance decreases, potentially creating a favorable environment for alcoins like SHIB.

Ultimately, ownership data from IntoTheBlock supports this perspective, highlighting an increase in long-term holders by 1.08%.

Shiba Inu Addresses by Time Held
Shiba Inu Addresses by Time Held

A 0.42% increase in mid-term holders further suggests that some recent buyers are transitioning to longer holding periods. Meanwhile, short-term trader activity has declined by 32.17%, reducing speculative movements and contributing to market stability.

Elliott Wave Theory Suggests Dogecoin Price to $8.5

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An analyst on X identified Elliott Wave patterns, suggesting Dogecoin completed a corrective phase and may enter a powerful wave (3) expansion.

Dogecoin (DOGE) experienced a sharp decline, dropping from above $0.21 to below $0.191 before rebounding to approximately $0.20. The meme cryptocurrency registered a 3.9% decline over the past 24 hours, indicating a short-term downtrend. 

However, despite this dip, DOGE maintained a 7-day gain of 8.0%. From a broader view, its 14-day and 30-day performance reflected declines of 20.9% and 24.1%, respectively. Over the past hour, DOGE managed a modest 0.6% recovery.

Impending Move for Dogecoin Price

With the notable fluctuation, an analyst on X examined Dogecoin’s market structure using the Elliott Wave Theory. The analyst identifies primary wave formations (1, 2, 3, 4, 5) along with corrective patterns (A, B, C). 

According to this assessment, DOGE has likely completed a minor corrective wave (2) and is in the early stages of forming a (1)-(2) subwave structure. This setup could potentially lead to the emergence of a powerful wave (3), signaling a shift in momentum.

Image

The recent price drop aligns with a retracement around the 0.618 Fibonacci level, indicating that the corrective phase might be nearing completion. If Dogecoin breaks out of this correction zone, it could validate the expansion of wave (3). 

The medium-term projection based on the 1.618 Fibonacci extension of Wave IV suggests that DOGE could gain $3.17, pushing its value to approximately $3.37. Further, over a longer timeframe, the wave structure indicates a potential movement toward wave three at $8.5.

Crucial Support and Resistance Levels Identified

Market analyst Ali Martinez provided an independent evaluation of DOGE on X, highlighting the possibility of a 2,871% surge in DOGE’s price. He noted that the asset remains within a long-term ascending parallel channel, maintaining a bullish market structure despite recent fluctuations.

Currently, DOGE is hovering near a major support level, which could be instrumental in determining its next move. According to Martinez, the lower boundary support at $0.16 remains a crucial threshold. A strong hold at this level could trigger a rebound toward $2.74, which is positioned as the mid-channel target. This projection aligns with the 1.272 Fibonacci extension level on DOGE’s weekly chart.

Challenges on the Road to Higher Levels

At the time of analysis, Dogecoin traded at $0.203, recording a 15% drop within 24 hours. Per the analysis, before attempting to reach the mid-channel target, DOGE must first surpass immediate resistance at $0.56958, which corresponds to the 1.00 Fibonacci level.

If bullish momentum intensifies, DOGE could push higher toward the upper boundary of $6.24. This price point aligns with the 1.414 Fibonacci extension, marking a significant resistance level.

XRP Open Interest’s 5.6% Surge Fueling Price Rally: Analyst Shares Opportunity

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A recent analysis suggests that increasing leveraged appetite among XRP traders has been a major catalyst to XRP’s recent price rally.

XRP has recorded three consecutive daily price appreciations after the Monday reality check. For context, the asset recorded its largest daily price correction since the Terra crash in 2022 on Monday, following a 34% surge the previous day.

Meanwhile, XRP has recovered since then, rallying 9% in the past three days. Recent analysis from CryptoQuant has suggested that growing derivative interest in the XRP Ledger native token has fueled this comeback.

Leverage-Driven XRP Pump

In a tweet, the market analytics provider shared that open interest (IO)—a metric measuring the value of derivative contracts that are unsettled on an underlying asset at a given time—has surged considerably in the past day.

Specifically, CryptoQuant mentioned that IO on XRP rallied 5.63% on Thursday, indicating growing leveraged activities on the asset. With the surge coinciding with a price uptick, the analysis suggested that derivative traders were responsible for XRP’s recent northward push.

Notably, data from Coinglass confirms this open interest shift as margin-focused positions increased from $3.29 billion the previous day to $3.36 billion on Thursday. Moreover, this appetite has continued to accelerate, with XRP’s IO growing further to $3.53 billion today.

Furthermore, derivatives and options volume has surged alongside the open interest as traders increasingly pile on to profit from short-term XRP price shifts. Derivatives volume has increased by 63% and options volume by 81% in the past 24 hours.

XRP Derivative Data
XRP Derivative Data

Analyst Shares XRP Short Opportunity

Maarten Regterschot, a verified CryptoQuant analyst, has shared his thoughts on the leveraged-driven XRP price pump. He suggested that the pump may present a good XRP shorting opportunity for market traders.

Maartunns XRP Analysis
Maartunn’s XRP Analysis

The analyst insinuated that as long/short positions indicate higher bets on more upsides for XRP, a drift in momentum could push prices lower. However, he urged caution, stating that XRP’s price actions “can be wild.”

In the meantime, XRP continues to regain momentum after an earlier flush today. The asset and other cryptocurrencies went south after Donald Trump’s executive order failed to meet the expected hype.

XRP trades at $2.533 at press time, up 3% in the past 8 hours.

Cardano Price Teases Wedge Breakout Rally: Will It Top $2?

Cardano price struggles for a bullish comeback while analysts picture a potential rally to $2 if ADA price exceeds $1.14.

As the crypto market remains highly volatile, with Bitcoin fluctuating near the $88,000 mark, Cardano is witnessing a quick pullback. The ADA price dropped by 7% last night and continues a bearish trend with an intraday pullback of 4.08%. 

Currently, Cardano trades at a market price of $0.8694 and warns of a potential return to $0.73. Will a lower price rejection candle signal a reversal for Cardano? Let’s find out.

Cardano Price Struggles at $0.86

On the daily price chart, Cardano is fluctuating sharply between the 50% Fibonacci level at $0.62 and the $1.20 supply zone. After a bullish engulfing candle formed over the weekend, with a 72% surge, Cardano has since shifted to a lateral movement.

Cardano Price Chart
Cardano Price Chart

The bullish recovery failed to overcome the supply pressure at the overhead zone, resulting in sharp fluctuations near the 78.6% Fibonacci level, which is at $0.9216.

Currently, Cardano has reached this critical level and formed a second consecutive bearish candle. As Cardano navigates this volatile path, the MACD and signal lines indicate a potential bearish crossover.

The average lines have entered positive territory, but the declining histograms suggest a trend reversal is possible. Additionally, the daily RSI line is nearing the halfway mark, reflecting a slight decline in bullish momentum. Hence, the technical indicators point to the possibility of a pullback.

Will Cardano Price Bounce Back To $2?

According to Fibonacci levels, the current short-term volatility suggests a potential pullback to the 61.8% Fibonacci level at $0.735. However, similar to the lower price rejection on Tuesday, the ADA price trend is likely to regain bullish momentum as the broader market stabilizes.

Furthermore, Ali Martinez, a crypto analyst, highlights the potential for a bull run in Cardano to the $2 milestone. In the analyst’s latest X post, he notes that Cardano’s price trend is forming a right-angled descending broadening wedge pattern.

This pattern is typically considered bullish and often leads to a breakout rally. Currently, the overhead resistance of the pattern stands at the $1.14 horizontal level. According to the analyst, a bullish breakout above this resistance could trigger a high-momentum rally in ADA toward the $2 mark.