Morgan Stanley owned E-TRADE is considering adding cryptocurrency trading to its stock and options offerings, according to a report by The Information. The bank spent $13 billion to acquire the broker and its 5.2 million customer accounts in 2020.

With the incoming Trump administration adopting a more crypto friendly approach, E-TRADE isn’t the only large U.S. retail broker exploring client trading. Schwab is also mulling a crypto service, as previously reported by Bloomberg in November. But other competitors are ahead of the game.

Fidelity launched Fidelity Digital Assets in 2018 and supports retail investors through Fidelity Crypto. It currently provides direct access to Bitcoin and Ethereum, which are considered commodities and the spot market for commodities does not require a registration.

Other competitors such as Robinhood offer a larger range of crypto investments, some of which might be considered securities. Robinhood received a Wells notice from the Securities and Exchange Commission (SEC) in May 2024. The digital broker is leaning into the crypto sector with the acquisition of European crypto exchange Bitstamp for $200 million last June.

The likes of Schwab and Robinhood earn a very significant proportion of their revenues from as interest on client cash balances. With a move to tokenization, some of those balances might be replaced by stablecoins. Hence, it’s no surprise that Robinhood was one of the firms taking an interest in the Paxos Global Dollar stablecoin initiative, which shares revenues with partners.

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XRP has been making waves in the cryptocurrency market, experiencing a dramatic $13 billion inflow in just 24 hours.

The surge has increased its market capitalization from $124.57 billion to $137.83 billion, propelling the token back into the ranks of the top three cryptocurrencies by market cap, based on data retrieved by Finbold from CoinMarketCap on January 2. 

After hitting lows of $2.01 on December 31, the cryptocurrency climbed to an intraday high of $2.44 during Thursday’s trading session. If XRP closes today in positive territory, it will mark the third consecutive day of gains, signaling a strong recovery and potential for continued bullish movement.

XRP trading activity

The trading activity surrounding XRP has also seen explosive growth, with 24-hour volumes increasing by a staggering 147.36%, reaching $10.78 billion. A significant portion of this activity—$1.3 billion—has been driven by trades on Upbit, a South Korea-focused exchange, where the XRP/KRW trading pair dominates. 

From a technical standpoint, the token’s price climbed from $2.16 to $2.41 within the day, representing a $0.25 increase, or over 11%. 

XRP is trading above its 200-day simple moving average, a key indicator of long-term bullish momentum. Support for the digital asset currently lies at $2.20, with resistance at $2.57—a crucial level that could determine the trajectory of the next major move.

Broader market trends further support XRP’s bullish outlook. The yearly inflation rate for the cryptocurrency stands at 5.78%, a factor that, while modest, adds another layer of complexity to its valuation dynamics. 

For now, the price action indicates a steady ascent, though the proximity to resistance levels suggests traders may exercise caution as the market approaches key decision points.

Crypto trading analyst weigh in

Market analysts have weighed in on XRP’s recent performance with optimism tempered by prudence. CryptoInsightUK, a renowned crypto trading expert on X notes that XRP is currently holding mid-range support, a critical position for determining its next move. 

The cryptocurrency analyst suggests that a breakout to the top of the range is possible, which could trigger further price acceleration. However, they also highlight the potential for market volatility, particularly as traders holding short positions and late long entries may face liquidations.

The possibility of a dramatic “sendy” move, should XRP break above its resistance, adds an element of speculative excitement to the market.

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1. Download Theta Mobile Edge Node Pilot from Google Play Store.

https://play.google.com/store/apps/details?id=org.theta.edge_node_mobile

2. Open Theta Edge Node and leave it running, keep in mind that Edge Node needs to be running in the background, but for better performance keep it running full-time in the foreground.

The internet connection (WiFI) needs to be connected and the phone has to be on a charger for it to perform jobs, otherwise your Node will be disabled. 

3. Once the assigned job has been completed on your end you will get a message on the screen and your pending balance will increase. 

4. Rewards are paid out at the beginning of every month.

5. To see your rewards, send them to your wallet, you will need your 12 mnemonic phrases. As a friendly reminder, you should keep the phrases in a safe place and NEVER share with anyone as it is the only way for you to access your rewards. If you lose them, you can regenerate the phrases, however if you lose your phrases and don't have your phone anymore, we won't be able to assist you. 

• Click on Settings

• Click on EXPORT WALLET

• Your  mnemonic/seed phrase will be exported to a clipboard, save it in your notes, and please keep them in a safe place and NEVER share it with anyone.

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