XRP-Backed Super PAC Fairshake Mobilizes $140M to Influence Pro-Crypto Legislation in Midterms
Fairshake, a super PAC heavily funded by cryptocurrency giants including Ripple (XRP), Coinbase, and Andreessen Horowitz, has amassed a staggering $140 million war chest ahead of the midterm elections. This financial powerhouse aims to bolster pro-digital asset lawmakers and sway pivotal votes on industry-friendly legislation. With its network having already spent $135 million in the 2024 election cycle, Fairshake's growing influence signals a strategic push by the crypto sector to secure regulatory and political support. As the midterms approach, the PAC's spending could prove decisive in shaping the future of cryptocurrency legislation, with XRP and other major players leading the charge.
Crypto-Backed Super PAC Fairshake Amasses $140M War Chest for Midterm Elections
Fairshake, a cryptocurrency-funded super PAC, enters the midterm elections with over $140 million to support pro-digital asset lawmakers. The group's spending power could sway critical votes on industry-friendly legislation this week.
Coinbase, Ripple, and Andreessen Horowitz lead a coalition of major crypto donors fueling the PAC's campaign efforts. In 2024, Fairshake's network spent $135 million electing crypto allies and unseating opponents like former Senate Banking Chair Sherrod Brown.
The PAC's influence already reshaped Congress, with $40 million helping crypto supporter Bernie Moreno win Brown's Ohio seat. Similar investments boosted digital asset advocates in competitive House and Senate races nationwide.
Ripple Seeks EU Expansion for RLUSD Stablecoin via Luxembourg License
Ripple has filed for a regulatory license in Luxembourg to bring its dollar-pegged RLUSD stablecoin to European markets. Approval would grant pan-EU operating rights under the bloc's unified crypto framework.
The payment-focused blockchain firm joins a growing list of crypto enterprises targeting Luxembourg's established digital asset infrastructure. The MOVE signals Ripple's strategic pivot toward institutional stablecoin adoption despite ongoing SEC litigation in the US.
Ripple (XRP) Price Speculation Intensifies as Analysts Eye $5-$20 Targets
Ripple's XRP is gaining momentum in the cryptocurrency market, with analysts projecting significant price appreciation. Egrag Crypto highlights Fibonacci targets of $6.5, $20, and $35, emphasizing a breakout above the 1.414 Fib Circle resistance. Dark Defender similarly forecasts $5-$18 thresholds if key resistance levels are breached.
The anticipation of an XRP ETF approval adds fuel to bullish sentiment. A $1,000 investment today could yield exponential returns if prices reach $5 or $10—a scenario increasingly discussed in trading circles. Market participants are closely monitoring institutional adoption and regulatory developments.
XRP Price Nears All-Time High as New Addresses Fuel Rally
XRP's price surge, now just 15% shy of its all-time high, is being driven by a wave of new investors. Daily addresses have skyrocketed 124% this month, climbing from 3,600 to 8,100—a clear signal of growing market conviction.
The altcoin's resilience defies broader market uncertainty. Glassnode data reveals this influx of fresh capital isn't just lifting prices but sustaining momentum. Technical indicators flash bullish: the RSI has breached 70, mirroring conditions before November 2024's 387% explosion.
While a repeat performance seems unlikely, the combination of network growth and overbought conditions suggests room for further upside. Market watchers note these new holders are creating a foundation for continued appreciation, not just speculative spikes.
California Partners with Ripple and Coinbase for Government Blockchain Initiative
California is doubling down on crypto-friendly policies with its newly announced Breakthrough Project, a government efficiency initiative partnering with Ripple, Coinbase, and other blockchain leaders. The move follows recent legislative wins including digital asset integration for state payments and updated token property rights.
Governor Gavin Newsom positioned the collaboration as a natural extension of California's tech leadership: "As the birthplace of modern tech, our state is uniquely positioned to bring the best and brightest together to advance our work." The project bears conceptual similarities to Elon Musk's former D.O.G.E. initiative, though political sensitivities may impact its reception among voters.
The partnership signals growing institutional adoption of blockchain solutions, with Ripple's involvement particularly noteworthy given its ongoing SEC litigation. Coinbase's participation reinforces its role as a bridge between traditional finance and digital assets.
Pro-XRP Lawyer John Deaton Celebrates Key July 18 ETF Launch Date
John Deaton, the prominent pro-XRP attorney, marked a milestone as ProShares prepares to launch its XRP-linked ETF on July 18. The date holds symbolic weight—two years after Judge Analisa Torres ruled XRP itself isn’t a security, a decision Deaton championed alongside 75,000 XRP holders in an amicus brief.
The futures-based ETF, filed with the SEC, signals institutional confidence in XRP’s regulatory clarity. While not a spot product, the fund is expected to funnel capital into the ecosystem, reinforcing XRP’s market position. Deaton framed the development as a victory for free markets, citing the altcoin’s journey from legal uncertainty to ETF accessibility.
Judge Torres’ 2023 ruling remains pivotal, enabling institutional participation and price momentum. ProShares’ move follows a broader trend of crypto-linked financial products, though XRP’s path diverges from Bitcoin and ethereum ETFs by leveraging futures contracts rather than direct holdings.
