Rumor: JP Morgan Is Quietly Accumulating XRP

Winkelmann

Economic

Cryptocurrency

Stocks

Forex

Summary:

Crypto proponent John Squire recently published a post claiming that reports suggest JP Morgan may be quietly accumulating XRP in anticipation of possible spot ETF approvals.

Crypto proponent John Squire recently published a post claiming that reports suggest JP Morgan may be quietly accumulating XRP in anticipation of possible spot ETF approvals. He described such a move, if accurate, as a “game-changer for institutional crypto adoption.”The post drew attention within the digital asset space, particularly as anticipation grows over the pending decisions on multiple spot XRP ETF applications currently under review by the United States Securities and Exchange Commission (SEC).

The timing of Squire’s remarks is significant, as six major asset managers, including Franklin Templeton, WisdomTree, and Grayscale, recently submitted amended filings for spot XRP ETFs.These applications have drawn scrutiny from regulators, with deadlines now extended into October 2025. Analysts have stated that institutional involvement would play a central role in the success of such products if approved.

RUMOR ALERT Community Reactions and Differing Views

In response to Squire’s post, X user Filipe Pereira questioned the reliability of the reports. Pereira acknowledged that if JP Morgan were indeed acquiring XRP, it would represent a major shift for institutional participation in the asset.However, he stressed the need for confirmation from credible sources before giving weight to the claims. He asked Squire directly for his interpretation of how such developments could affect XRP’s future if proven true.

Another user, going by the name goblue25, dismissed the report outright. He criticized Squire for sharing what he described as unverified information, accusing him of attempting to inflate expectations around XRP. His comment reflected the more skeptical segment of the digital asset community, which continues to question XRP’s long-term investment value compared to other cryptocurrencies such as Bitcoin.

Spot XRP ETFs Approval

The speculation comes at a time when optimism around spot XRP ETFs remains strong. Following recent legal clarity that programmatic sales of XRP are not considered securities, the path for regulatory approval appears clearer than in previous years.Market observers note that institutional confidence has grown in parallel with these developments, with several analysts suggesting the likelihood of ETF approvals before the end of 2025 is high.

If approved, experts estimate that billions in institutional capital could flow into XRP-backed funds, potentially driving a substantial increase in trading volumes and overall liquidity. Price forecasts have varied, with some analysts projecting ranges between $10 and $20 in scenarios where spot ETF products are green-lighted.

Market Impact

Reports of possible institutional accumulation, whether confirmed or not, highlight the heightened attention surrounding XRP at this stage of regulatory review. Even the suggestion of banks preparing for ETF-related opportunities has added momentum to the ongoing debate about the asset’s role in broader adoption.

While Squire characterized the potential involvement of JP Morgan as transformative, responses from other community members emphasized caution. The differing perspectives reflect the uncertainty that often surrounds the digital asset industry, where rumors frequently emerge ahead of major regulatory decisions.

The SEC’s extended review process will remain the focal point for investors awaiting clarity. Any confirmed institutional participation would likely reinforce the perception that XRP is positioned to play a role in future market infrastructure. Until then, the claims shared by Squire remain unverified.

Source: CryptoSlate

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Winkelmann

Cryptocurrency

Forex

Technical Analysis

BTCUSD is consolidating after a sharp fall in past three days (down over 6%), mainly driven by strong institutional selling.The price edged higher after hitting six-week low today, although the upside remains limited and warning of persisting downside pressure.The latest fall broke through key supports at 111370 (50% of 98182/124558 rally / 100DMA), 110722 (base of thick daily cloud) and 110000 (psychological).

Violation of these levels generated strong bearish signal, with repeated daily close below, to validate signal and risk deeper correction from new all-time high.Bears eye initial target at 108258 (Fibo 61.8%), with stronger acceleration to target 105097 (July 2 higher low) and 104407 (Fibo 76.4%).Daily studies remain firmly bearish, with thick daily cloud weighing on price action, MA’s in full bearish configuration and very strong bearish momentum, with oversold Stochastic to partially counter pressure.

Ideally, consolidation should stay under the cloud, before larger bears regain full control again.Only sustained break above 100DMA would diminish downside risk and allow for stronger correction of 117169/108665 bear-leg.

Res: 110000; 110370; 110772; 111634Sup: 109379; 108665; 108258; 107419

Source: ACTIONFOREX

Risk Warnings and Disclaimers

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Winkelmann

Economic

Political

Stocks

CNBC's Jim Cramer on Monday told investors why he thinks President Donald Trump's unprecedented effort to remove a Federal Reserve Board governor won't substantially impact the market."There have been so many shocking things coming from the White House that they're no longer shocking," he said. "At some point, this stuff gets priced in."

On Monday, Trump announced he had fired Fed Governor Lisa Cook, citing allegations she made false statements on applications for home mortgages. Cook, who was appointed to her position by former President Joe Biden, said Trump did not have cause to fire her and that she would not resign. The Fed said it would accept the court's decision about Cook's termination, CNBC reported.

Trump's attempt to remove Cook marks an escalation of his attacks on the central bank and its independence. The president has repeatedly criticized the Fed — especially Chair Jerome Powell — for refusing to cut interest rates. Trump said Tuesday he would soon have a "majority" of his own nominees to support his wish to lower rates.Stocks climbed during Tuesday's session as investors largely shook off Trump's latest effort to assert dominance over the Fed. The Dow Jones Industrial Average closed up 0.30%, the S&P 500 increased 0.41% and the Nasdaq Composite added 0.44%.

According to Cramer, the Fed should be independent from the president because a central bank controlled by a president or prime minister usually results in higher inflation. But he suggested that Trump's action doesn't matter to many investors because it has little to do with more market-moving events set to take place this week — namely earnings from artificial intelligence giant Nvidia.

Cramer said he wants a central bank that "looks at the evidence and tries to do the right thing regardless of the president," adding that he's not trying to minimize the significance of Trump's efforts to control the organization. However, when it comes to making money on the market, he said Nvidia's new chip and whether customers will make money using it is more important."Look, for pretty much my entire career, if somebody told you to sell stocks because of a headline from Washington, you would have been dead wrong," he said. "We already went through this in Trump's first term."

Source: CNBC

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Winkelmann

Economic

Political

Russia-Ukraine Conflict

U.S. special envoy Steve Witkoff said on Tuesday that he will meet with representatives from Ukraine in New York this week while saying that Washington continues to talk with Russia as the United States seeks an end toMoscow's war in Ukraine."I'm meeting with the Ukrainians this week. So I will be meeting with them this week in New York, and that's a big signal. We talk to the Russians every day," Witkoff said on Fox News' "Special Report with Bret Baier" show.

Witkoff said he thought Russian President Vladimir Putin wanted to bring an end to the war."I think he (Putin) has made a good faith effort to engage. He certainly did at the Alaska summit. But it's a very complicated conflict," Witkoff said.President Donald Trump held a summit with Putin in Alaska on August 15 and a meeting with Ukrainian President Volodymyr Zelenskiy, as well as NATO and European leaders, at the White House on August 18.

Following those meeting, Trump said Zelenskiy and Putin would hold a bilateral meeting before a trilateral meeting that would also include Trump. Zelenskiy has said Russia was doing everything it could to prevent a meeting between him and Putin, while Russia says the agenda for such a meeting was not ready."I think that we may end up seeing a bilateral meeting," Witkoff said. "My own opinion is that the president is going to be needed at the table to finish a deal."

Trump had vowed a swift end to Russia's war in Ukraine that began in 2022 when he took office in January, but has yet to achieve that objective.Trump has told Zelenskiy that Washington would help guarantee Ukraine's security in any deal. Trump also renewed a threat on Friday to impose sanctions on Russia if there is no progress toward a peaceful settlement in Ukraine in two weeks.

Russia occupies around a fifth of Ukraine, and Trump has said "land-swapping" and changes to territory will be crucial for any settlement.Ukraine opposes the idea of legally recognizing any Ukrainian territory as Russian. But it has tacitly acknowledged it will almost certainly have to accept some de facto territorial losses.

Source: Reuters

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Risk Warnings and Disclaimers

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Alice Winters

Donald Trump, during a Tuesday cabinet meeting at the White House, warned that if Vladimir Putin and Volodymyr Zelenskiy fail to meet and stop the war in Ukraine, he is ready to start what he called “an economic war.”

“It will not be a world war, but it’ll be an economic war, and an economic war is going to be bad. It’s going to be bad for Russia, and I don’t want that,” he said.

Trump had previously promised to end the war on his first day in office. But even after taking the reins again, his efforts have yet to produce a breakthrough.

Putin and Zelenskiy meeting still not scheduled after summit

Trump believed his meeting with Putin in Anchorage on August 15 would pave the way for talks between the Russian and Ukrainian leaders.

That meeting, the first direct exchange between the two since the war began over three years ago, led the White House to believe Putin had agreed to meet Zelenskiy. Officials even said planning had started. But more than a week later, no date had been confirmed.

The Kremlin never publicly accepted the terms, and no summit has been announced. Russian Foreign Minister Sergei Lavrov, speaking with NBC on Friday, said Putin was willing to meet Zelenskiy only when a proper agenda was finalized.

“This agenda is not ready at all,” Lavrov said, pushing back on the idea that talks were imminent. Trump responded to those comments directly during his Tuesday briefing, saying, “Everybody’s posturing,” and that both leaders were hesitating instead of moving forward.

On August 18, Trump held a follow-up call with Putin to propose a formal peace summit, shortly after he met at the White House with Zelenskiy and a group of European leaders. That earlier meeting focused on establishing long-term security guarantees aimed at stopping future Russian aggression.

Zelenskiy, for his part, stated publicly on August 23 that the guarantees were nearly finalized. “In the coming days,” he said, he expected to announce the full terms, with U.S. and European support.

Trump doubles tariffs as warning to nations buying Russian crude

Trump hasn’t limited his warnings to just Russia. He’s already moved forward with economic punishment by doubling tariffs to 50% on Indian imports, targeting India’s continued purchases of Russian oil.

He’s also put pressure on other countries still buying crude from Russia, saying they’re helping fund the war. So far, he hasn’t taken additional steps against China or others, but those warnings remain in place.

Despite keeping lines open with Moscow, Trump has grown frustrated that Russian attacks in Ukraine have resumed quickly after calls with Putin. “Zelenskiy’s not exactly innocent either,” he said during Tuesday’s meeting.

Trump reminded reporters that he had previously criticized the Ukrainian president for not showing enough appreciation for U.S. support. He once again described Zelenskiy as part of the problem, not just a victim of Russian aggression.

Source: CryptoSlate

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Daniel Carter

Political

U.S. special envoy Steve Witkoff said on Tuesday President Donald Trump will chair a meeting on Gaza at the White House on Wednesday and added that Washington expected Israel's war in the Palestinian territory to be settled by the end of the year.

WHY IT'S IMPORTANT

Trump had promised a swift end to the war in Gaza during the 2024 U.S. election campaign and after taking office in January but almost seven months into his term, that stated goal remains elusive.

Trump's term began with a ceasefire which lasted two months and ended when Israeli strikes killed around 400 Palestinians on March 18. In recent weeks, images of starving Palestinians, including children, in Gaza have shocked the world and fueled criticism of Israel over the worsening conditions.

KEY QUOTES

When asked on Fox News' "Special Report with Bret Baier" show if there is a post-war plan for Gaza, Witkoff said: "Yes, we've got a large meeting in the White House tomorrow, chaired by the president, and it's a very comprehensive plan we're putting together on the next day."

When asked "should Israel be doing anything differently to end the war and get the hostages home," Witkoff said: "We think that we're going to settle this one way or another, certainly before the end of this year."

Witkoff said Israel was open to continuing discussions with Palestinian militant group Hamas. He also said Hamas had signaled they were open to a settlement.

CONTEXT

U.S. ally Israel's devastating assault on Gaza since October 2023 has killed over 62,000 Palestinians, Gaza health authorities say. It has also caused a hunger crisis, internally displaced Gaza's entire population and prompted accusations of genocide and war crimes at international courts that Israel denies.

The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked Israel, killing 1,200 and taking about 250 hostages, Israeli tallies show.

Source: Reuters

Risk Warnings and Disclaimers

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Daniel Carter

Central Bank

Political

Lisa Cook, governor of the US Federal Reserve, and U.S. President Donald Trump.

Trump's decision not only put investors and economists on alert, but brought attention to the complicated innerworkings of the U.S. central bank. It also marks the latest escalation of Trump's monthslong pressure campaign against the Fed, historically politically independent, to lower interest rates.

Why do we follow the Federal Reserve?

The Federal Reserve manages monetary policy for the United States. Its dual mandate, set out in a 1977 act of Congress that amended the Federal Reserve Act, is to maximize full employment and ensure stable prices. Because the U.S. is home to the world's largest economy, the 111-year-old central bank also helps set the economic tone for all other developed as well as emerging markets. The Fed also supervises and regulates banks and their financial activities through a series of examinations, stress testing and corrective actions, and attempts to identify and mitigate systemic risks.

A 12-person group within the Fed called the Federal Open Market Committee, or FOMC, sets the key overnight borrowing rate, currently set at 4.25% to 4.50%. The fed funds rate is the target interest rate that banks charge each other for overnight loans to meet their reserve requirements, and helps set the cost of home mortgages, car loans and credit card debt. The FOMC holds regularly scheduled meetings at least eight times a year.

Who is Lisa Cook?

Cook, the first African-American woman to sit on the Fed, has served as governor since 2022, according to her bank biography. Reappointed the following year, her 15-year term is due to expire in 2038.

Before joining the Fed, Cook was a professor of economics and international relations at Michigan State University. A holder of a PhD in economics from the University of California, Berkeley, Cook was previously director of the American Economic Association Summer Training Program, a research associate at the National Bureau of Economic Research, on the faculty of Harvard University's Kennedy School of Government and a national fellow at Stanford University.

From 2011 to 2012, Dr. Cook served as senior economist on the Council of Economic Advisers under President Barack Obama.

What is a Fed governor?

The Fed's Board of Governors consists of seven members who are appointed by the president and confirmed by the Senate. The governors are considered the core of the institution and are permanent members of the closely-watched FOMC. The other five voting members of the FOMC consist of the President of the Federal Reserve Bank of New York, a permanent member, and a rotating cast of four Reserve Bank presidents.

Why is Trump firing her? Has she responded?

In a social media post, Trump cited allegations that Cook made false statements on mortgage applications. Cook responded by saying he did not have the authority to fire her and that she would sue.

The Fed said in an official statement on Tuesday afternoon that it would abide by any court decision governing the legality of Cook's firing. Although the president can fire a Fed governor "for cause," the law doesn't exactly define what that means. The case is expected to wind up before the Supreme Court.

Is there a secondary motive?

While Trump cited the mortgage issue, the move to fire Cook also comes amid his push for the Fed its key borrowing rate. Earlier this summer, Trump floated the idea of firing Fed Chair Jerome Powell, who he has repeatedly blamed for keeping rates unchanged since late last year.

Trump may get his wish: Fed funds futures are pricing in a more than 89% likelihood that the central bank cuts rates at its next policy gathering in September, according to the CME FedWatch tool. That market assessment, however, is based more on a weak July labor report and downward revisions to job growth in May and June, rather than political pressure from the White House.

What has the market reaction been?

Following a trend in place since Trump resumed office in January, investors largely shook off any immediate concern that politics would intrude on monetary policy. Stocks rose on Tuesday.

But signs of concern showed up in other areas. An index tracking the U.S. dollar against a basket of foreign currencies slid on Tuesday as investors looked to international alternatives. Gold — traditionally regarded as a safe store of value in times of rising inflation — rose in reaction to the White House move.