California’s Blockchain Leap: Ripple (XRP), Coinbase, and MoonPay Join Gov’t Modernization Push
In a bold move to revolutionize public-sector efficiency, California Governor Gavin Newsom has unveiled the California Breakthrough Project, a groundbreaking initiative leveraging blockchain technology and digital innovation. The project has enlisted top-tier cryptocurrency firms Ripple, Coinbase, and MoonPay to form a high-powered task force, marking a significant step toward integrating private-sector crypto expertise into government operations. This collaboration highlights California's recognition of blockchain's transformative potential, with nearly 25% of North America's blockchain activity already rooted in the state. The involvement of XRP-focused Ripple signals particular promise for cross-border payment solutions in public services. As of August 2025, this public-private partnership sets a precedent for how governments might harness digital asset technologies to streamline operations, potentially creating new use cases for cryptocurrencies like XRP in institutional settings.
California Enlists Ripple, Coinbase, and MoonPay to Modernize Government Services
California Governor Gavin Newsom has launched the California Breakthrough Project, a pioneering initiative to enhance government efficiency through blockchain and digital innovation. The task force includes executives from leading crypto firms Ripple, Coinbase, and MoonPay, signaling a strategic push to integrate private-sector expertise into public-sector operations.
Nearly 25% of North America's blockchain companies operate in California, positioning the state as a natural hub for this public-private collaboration. The program aims to streamline state agency workflows and improve service delivery by leveraging distributed ledger technology and digital asset infrastructure.
This MOVE follows Governor Newsom's executive order mandating reforms across hiring, procurement, and service provision frameworks. The inaugural task force meeting marks California's most substantive effort yet to institutionalize crypto industry partnerships for governmental modernization.
GENIUS Act Advances in House, Stablecoin Legislation Nears Presidential Approval
The U.S. House of Representatives voted 215-211 to advance the GENIUS Act, a pivotal stablecoin bill that could reach President Trump's desk by week's end. Republican support carried the procedural vote, while Democrats uniformly opposed the motion.
Concurrent with the stablecoin legislation, lawmakers progressed the Digital Asset Market Clarity Act. This companion bill establishes regulatory boundaries between the SEC and CFTC, creating a framework for digital asset oversight. The breakthrough followed resolved disagreements among Republican representatives.
Market observers note the legislation's potential to legitimize dollar-pegged cryptocurrencies. XRP proponents particularly celebrated the development, citing it as part of a broader financial infrastructure shift. Earlier opposition had stalled the bills in a 196-223 vote, making Wednesday's reversal particularly significant.
Can Ripple (XRP) Hit $50? Analysts Say It’s Possible
Ripple's XRP has surged past $3, approaching its all-time high of $3.40, marking a bullish breakout that has reignited investor interest. The move signals a potential shift into an extended upward cycle, with technical indicators like RSI and MACD showing strong momentum—though overbought conditions suggest a short-term pullback may be imminent.
Sistine Research projects a dramatic rally, targeting $33–$50 in the current bull run, with a speculative cup-and-handle pattern potentially pushing prices to $77–$100. CoinCodex echoes the bullish sentiment, forecasting continued upward trajectory for XRP. The Optimism reflects broader market confidence in altcoins amid the crypto resurgence.
XRP Price Hits 6-Month High as Open Interest Soars to Record Levels
XRP surged to a six-month high, trading at $3.05 with a 5.1% daily gain, as notional open interest for perpetual futures eclipsed $8.8 billion—a record high. The token's price trajectory reflects a 420% annual climb, nearing its yearly peak of $3.31.
Leveraged positions concentrated on Bitget and Binance, commanding $1.94 billion and $1.48 billion respectively. Bullish sentiment prevailed, evidenced by positive funding rates across exchanges. Retail participation remains robust, with analysts noting XRP's broad accessibility.
XRP Price Prediction For July 17
XRP is exhibiting bullish signals as it trades above the $3 support level, a former resistance zone that has now flipped to support. The cryptocurrency is currently navigating a critical range between $2.90 and $3.00, a historically significant barrier for upward momentum.
A confirmed daily close above $3 could trigger a breakout, with analysts eyeing resistance levels at $3.18 and $3.40—the latter aligning with the 100% Fibonacci extension level. A nascent bullish 'C-wave' pattern suggests potential upward movement, though failure to hold $2.90 may invite short-term pullbacks.
The Relative Strength Index (RSI) hints at bullish continuation, with a breakout above recent highs potentially cementing buyer dominance. Success above $3 opens the path to retest $3.40, while rejection could prolong consolidation.
XRP Sees Explosive Activity Despite Regulatory Tensions
XRP has surged to a six-month high of $3.05, marking a 5.1% gain in 24 hours. The rally coincides with record open interest in perpetual futures contracts, hitting $8.8 billion—a clear signal of renewed institutional and retail interest.
Retail investors are flocking back to legacy assets like XRP, drawn by its notoriety during the COVID bull run. The momentum blends short-term speculation with longer-term structural potential, defying broader market uncertainty.
Technical indicators and derivatives activity suggest this isn't mere speculation. Ripple's asset is demonstrating rare strength amid regulatory headwinds, potentially signaling a new phase of adoption.
