XRP Mildly Undervalued On MVRV: What About Bitcoin, Ethereum?

Brazil’s largest private bank, Itaú, is standing firm on its Bitcoin view even after this year’s pullback. In its latest outlook, the bank advises investors to keep around 1% to 3% of their portfolio in Bitcoin as they look toward 2026. With a message that short-term drops do not cancel out Bitcoin’s longer-term role in diversification and protection against uncertainty. At the moment, Bitcoin is trading near the $90,100 level, down about 2.3% over the past day on a USDT basis.

Why Bitcoin Still Has a Place

According to Itaú analyst Renato Eid, Bitcoin does not behave like stocks, bonds, or local assets. Its global and decentralized nature means it often reacts to different forces, especially during economic stress or geopolitical tension. While volatility remains part of the package, the bank believes Bitcoin can still balance a portfolio and offer long-term upside when traditional assets struggle.

Itaú Expands Its Crypto Offering

Itaú is also building its own digital asset services. The bank has started by offering trading in Bitcoin and Ethereum, with plans to add more cryptocurrencies over time. Guto Antunes, Itaú’s head of digital assets, explained that the bank itself will handle custody. This means clients’ crypto holdings are backed by Itaú’s balance sheet, though for now, users cannot move assets to or from external wallets. The focus is on safety and ease of access rather than full self-custody.

Itaú highlights that Bitcoin’s performance in Brazil is closely tied to currency moves. In 2025, Bitcoin saw sharp swings, but the strengthening Brazilian real made losses feel larger for local investors. On the flip side, when the dollar surged in late 2024, Bitcoin helped protect value. This reinforces its role as a hedge during periods of currency stress.

Global Banks Share a Similar View

Itaú is not alone. Morgan Stanley’s Global Investment Committee has suggested a 2% to 4% crypto allocation for suitable clients, often comparing Bitcoin to digital gold. Bank of America has also advised wealth clients to consider a 1% to 4% allocation through regulated products. Across the board, large institutions see Bitcoin as risky but increasingly established.

A Measured, Long-Term Strategy

Rather than chasing short-term moves, Itaú encourages patience. Investors can gain exposure through the bank’s Íon platform or the BITI11 ETF on Brazil’s B3 exchange, avoiding custody complexity. The bank stresses that Bitcoin should support a portfolio, not dominate it. In an uncertain global environment, a modest allocation is seen as a practical way to add global exposure and currency protection without overreaching.

FAQs

Investors can use Itaú’s Íon platform or BITI11 ETF, with the bank managing custody for safety and simplicity.

Yes, Bitcoin can hedge against local currency stress, helping preserve value when the real weakens or the dollar rises.

Yes, but top institutions suggest small allocations (1%-4%) for long-term exposure, treating it like digital gold.

A group of crypto organizations has pushed back on Citadel Securities’ request that the Securities and Exchange Commission tighten regulations on decentralized finance when it comes to tokenized stocks.

Andreessen Horowitz, the Uniswap Foundation, along with crypto lobby groups the DeFi Education Fund and The Digital Chamber, among others, said they wanted “to correct several factual mischaracterizations and misleading statements” in a letter to the SEC on Friday.

The group was responding to a letter from Citadel earlier this month, which urged the SEC not to give DeFi platforms “broad exemptive relief” for offering trading of tokenized US equities, arguing they could likely be defined as an “exchange” or “broker-dealer” regulated under securities laws.

“Citadel’s letter rests on a flawed analysis of the securities laws that attempts to extend SEC registration requirements to essentially any entity with even the most tangential connection to a DeFi transaction,” the group said.

The group added they shared Citadel’s aims of investor protection and market integrity, but disagreed “that achieving these goals always necessitates registration as traditional SEC intermediaries and cannot, in certain circumstances, be met through thoughtfully designed onchain markets.”

Citadel’s ask would be impractical, group says

The group argued that regulating decentralized platforms under securities laws “would be impracticable given their functions” and could capture a broad range of onchain activities that aren’t usually considered as offering exchange services.

The letter also took aim at Citadel’s characterization that autonomous software was an intermediary, arguing it can’t be a “‘middleman’ in a financial transaction because it is not a person capable of exercising independent discretion or judgment.”

Following all the crypto market turbulence of recent weeks, XRP finds itself in a weird spot on the monthly TradingView chart, and the risk is not hidden in indicators or exotic patterns. It is structural. The price of XRP is creeping closer to the Bollinger midband at around $1.82, and if it dips below that, there is literally no floor.

It all goes back to November 2024. XRP shot up by about 283% in a fast and furious move, jumping across multiple price zones without taking a breather to form support cushions. That candle solved the upside problems fast, but it left the downside unfinished. When prices move that quickly over a longer time frame, they often skip the acceptance process. BINANCE:XRPUSD by TradingView" />

So, what's left behind is air.

10% lifeline for XRP price

On the monthly time frame, the Bollinger midband is the only clear anchor left. It is pretty close to the current levels, at less than 10% away. A controlled test can still keep the structure together, but a clean close below it would change the whole map. 

Once that level gives way, the chart does not really have any obvious reference points until much lower, which forces traders to fall back to weekly and daily structures that were not designed to handle a macro pullback.

If XRP dips below $1.82, there is no guarantee of panic, but it does take away the last bit of monthly support — then, price discovery becomes defensive. XRP does not need any bad news to dip into that zone. It just needs gravity to finish what the vertical rally skipped.

As Pakistan continues to deepen its involvement in the digital asset landscape, the country has signed a memorandum of understanding (MoU) with crypto exchange Binance, aiming to explore the tokenization of up to $2 billion in sovereign bonds, treasury bills, and commodity reserves to enhance liquidity and attract foreign investors.

$2 Billion Asset Tokenization Initiative

According to Reuters, the agreement sets the stage for a potential collaboration focused on allowing the tokenization and blockchain-based distribution of various real-world assets (RWAs) held by the Pakistani government. 

These assets may include sovereign bonds, treasury bills, and a range of commodity reserves such as oil, gas, metals, and other raw materials. 

The country’s finance ministry, Muhammad Aurangzeb, indicated that while the initiative could involve assets valued at up to $2 billion, final approval is still pending. The goal is to improve liquidity, transparency, and access to international markets for these assets. 

Aurangzeb remarked that the memorandum of understanding signifies Pakistan’s commitment to a reform-oriented economic trajectory and establishes a long-term partnership with Binance.

Binance founder Changpeng Zhao expressed optimism about the agreement, calling it “a great signal for the global blockchain industry and for Pakistan.” He suggested that this partnership marks the beginning of a significant shift toward fully implementing the tokenisation initiative.

PVARA Provides Initial Clearance For Binance And HTX 

In addition to this MoU, Pakistan has granted initial clearance for Binance and cryptocurrency exchange HTX, to register with local regulators as part of their efforts to establish domestic subsidiaries. This step allows both companies to prepare applications for full exchange licenses. 

The Pakistan Virtual Assets Regulatory Authority (PVARA) provided these early approvals after assessing the governance and compliance frameworks of both platforms.

Chairman Bilal bin Saqib indicated that these clearances initiate Pakistan’s phased licensing process, emphasizing that the strength of compliance will play a crucial role in determining which exchanges will proceed. 

This move comes as Pakistan accelerates its digital finance overhaul, which has included the formation of the Pakistan Crypto Council and the establishment of the PVARA, alongside the drafting of a formal licensing regime.

As Bitcoinist reported at the time, Pakistan’s growing involvement in digital assets drew the attention of industry leaders such as Michael Saylor, co-founder of the Bitcoin proxy firm Strategy, who praised the country’s efforts and described it as a sign that the country understands how to handle this new market. 

Notably, Pakistan ranks as the world’s third-largest cryptocurrency market by retail activity, according to Saqib. The government is also planning a pilot program for a central bank digital currency (CBDC) and a comprehensive Virtual Assets Act.

At the time of writing, the exchange’s native cryptocurrency, Binance Coin (BNB), is trading at $878, down 35% from all-time highs just above $1,369.

Featured image from DALL-E, chart from TradingView.com

Ethereum is trading above the $3,200 level as bulls attempt to push the price back toward higher resistance zones, but market sentiment remains fragile. Fear and uncertainty continue to dominate as several analysts warn that the broader trend may still point toward a potential bear market. Yet, beneath the volatile price action, key on-chain data is revealing a development that could shape Ethereum’s next major phase.

According to a new report from CryptoQuant, a historic signal tied to the realized price of whales holding more than 100,000 ETH has emerged once again. This metric, which tracks the average cost basis of the largest holders, has only been tested a handful of times over the past five years.

Each instance occurred during decisive turning points in Ethereum’s macro trend. Whenever ETH approached or traded near this realized price, it signaled either the exhaustion of a deep downtrend or the beginning of a strong recovery phase.

Today, Ethereum is once again hovering near this critical threshold. With analysts divided and sentiment weakening, the whale realized price has become one of the most important indicators to monitor. Whether ETH bounces or breaks here may determine the direction of the next major trend cycle.

Whale Realized Price as a Cycle-Defining Threshold

The CryptoQuant report highlights the significance of Ethereum’s proximity to the realized price of whales holding at least 100,000 ETH. According to the analysis, ETH has traded very close to this level only four times in the last five years.

Two of those instances occurred during the capitulation phase of the 2022 bear market, when selling pressure peaked, and long-term confidence was severely tested. The other two have happened this year, underscoring how unusual and cycle-defining the current environment has become.

What makes this metric particularly important is its historical reliability. In the past five years, Ethereum has never traded below the realized price of these mega-whales. This level has consistently acted as a structural floor, signaling areas where the largest and most sophisticated holders refuse to sell at a loss. Their behavior often marks moments of deep undervaluation or macro exhaustion within the market.

Today, that realized price sits near the $2,500 range, placing Ethereum within striking distance of a level that has repeatedly separated long-term accumulation zones from full-scale trend reversals. If ETH holds above this threshold, it would reinforce the idea that large holders still see long-term value—despite fear dominating broader market sentiment.

Ethereum Attempts Recovery but Faces Major Overhead Barriers

Ethereum’s daily chart shows a market attempting recovery, yet still constrained by significant structural resistance. After rebounding from the sub-$2,900 zone, ETH has reclaimed the $3,200 level and is currently trading near $3,238. While this bounce reflects short-term strength, the broader trend remains fragile.

The price is encountering the 50-day moving average, which has acted as dynamic resistance throughout the decline from September’s peak. ETH briefly pierced above it but failed to secure a strong close, signaling hesitation from buyers.

The 100-day and 200-day moving averages remain well above the current price, reinforcing that Ethereum is still operating beneath major trend markers. These moving averages are likely to form an overhead cluster of resistance between $3,400 and $3,600—an area where sellers previously overwhelmed bullish attempts.

Structurally, ETH is forming a potential higher low, but it has not yet produced a higher high—an essential condition for confirming a trend reversal. A clean breakout above $3,350 would strengthen bullish momentum. Conversely, losing $3,150 risks reopening a path toward $3,000 and potentially retesting deeper support levels.

Featured image from ChatGPT, chart from TradingView.com

Binance, the world’s largest crypto exchange, has broadened support for USD1, the stablecoin tied to World Liberty Financial and US President Donald Trump’s crypto ventures, reports disclosed. The exchange added new spot pairs including ETH/USD1, SOL/USD1 and BNB/USD1, and enabled fee-free swaps between USD1 and other major stablecoins.

Binance Will Shift Collateral Into USD1

The exchange will convert all collateral backing its Binance-Peg BUSD (B-Token) into USD1 at a 1:1 ratio, a process the company said should be completed within one week. This change means USD1 is being folded into its internal collateral and liquidity systems rather than remaining only a tradable token.

Market Reaction And Liquidity Effects

Traders reacted quickly. Price moves in BNB and other tokens showed more buying interest after the announcement. Market data snapshots suggested a short-term uptick in BNB as liquidity and trading routes were expanded by the new USD1 pairs. Reports put the token’s wider market use and the platform’s zero-fee swaps as the likely drivers.

Backing, Size, And Recent Deals

According to public filings and market trackers, USD1 is backed by US Treasury bills, cash and equivalents and is redeemable at a one-for-one rate with the dollar.

The stablecoin has grown quickly and is now listed among the larger stablecoins by market cap, with figures around $2.7 billion cited in recent summaries. Reports have also linked USD1 to a major Abu Dhabi investment that used the token for a $2 billion deal. Political Context And Scrutiny

These commercial moves come after a politically charged episode: Trump granted a pardon earlier this year to Binance’s former CEO, an action that critics say raises questions about ties between Binance and the Trump family’s crypto interests.

That sequence of events has drawn scrutiny from lawmakers and commentators, who are asking for more transparency around the deals and any possible conflicts of interest.

Company spokespeople have issued short statements denying that any political favors were sought or exchanged to secure deals. Binance said its public notices focused on product rollouts, trading schedules and incentives like zero fees for certain users, while World Liberty Financial emphasized the reserve backing behind USD1.

Featured image from Unsplash, chart from TradingView