Headline: Arizona moves to put XRP on state digital-asset reserve as price holds above $1.40 — market watches for breakout XRP has remained stubbornly above the $1.40 mark, showing resilience amid a cautious broader crypto market — and lawmakers in Arizona have given bulls a fresh talking point. A bill that would explicitly list XRP as an eligible asset for a state-run digital-assets reserve cleared a key Senate committee, adding symbolic credibility to the token’s institutional profile. What happened in Arizona - Arizona’s Digital Assets Strategic Reserve Fund bill (SB1649) passed the Senate Finance Committee on a 4–2 vote. The proposal would create a strategic reserve made up of digital currencies obtained via seizures or confiscations and place them under the custody of the state treasurer with defined oversight. - XRP is explicitly named alongside Bitcoin (BTC) as an eligible asset for the reserve. If the bill becomes law, Arizona would be among the first U.S. states to reference XRP in an official state financial framework. - Important caveat: the inclusion is largely symbolic. The state would not be using taxpayer money to buy XRP; the fund would repurpose assets already in government custody. Still, lawmakers’ naming of XRP reinforces its image as a settlement-oriented digital asset rather than just a speculative token. Market context and on-chain signals - Price action: XRP has been trading in a tight range for about a month and is finding support around $1.40–$1.44 — a zone traders are monitoring closely. - On-chain behavior: exchange outflows point to accumulation by larger holders, and smaller “whales” have also increased balances, suggesting that smart money is building positions. - Technical picture: short-term momentum oscillators indicate limited buying pressure at the moment, while longer-term smart-money metrics look constructive. That mix explains the current sideways action and the potential for a sharper move once volatility returns. Key levels and scenarios to watch - Support: $1.40–$1.44 is the immediate floor. A decisive break below roughly $1.42 could trigger a pullback toward about $1.12 in the short term. - Near-term resistance: $1.50 and $1.54. Holding support could set up attempts to test these levels. - Medium targets: $1.67, $1.91 and $2.13 — the latter range aligns with historical trading bands and observed accumulation zones. - Broader sentiment: a sustained move above $2.00 would strongly suggest renewed, wider bullish conviction. Bottom line Arizona’s SB1649 may not move markets by itself, but the state-level recognition of XRP adds a layer of legitimacy that matters for perception. Combined with ongoing accumulation by larger holders and solid technical support, XRP is positioned in a delicate but potentially constructive setup: short-term caution remains warranted, but the medium-term outlook leans toward upside if support holds and buying returns. Traders should keep an eye on the $1.40–$1.44 support zone and the resistance levels noted above. Read more AI-generated news on: undefined/news

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