The Ripple-based token rallied strongly during the mid-week trading session, posting an intra-day gain of about 8% for the day as it looked set to breach the $2.55 mark.
The altcoin is now the third-largest crypto asset by market valuation, trading at $144.5 billion, displacing Tether (USDT) with a valuation of $142 billion into fourth place.
The atmosphere in the Ripple ecosystem significantly elevated after the inclusion of Ripple’s XRP in President Trump’s statement on the Crypto Strategic Reserve.
President Donald Trump stated that XRP, Cardano (ADA), and Solana (SOL) will now be part of the US crypto reserve.
This comes after he signed an executive order creating a working group on digital assets tasked with establishing clear regulations for the cryptocurrency industry and determining whether a national digital asset stockpile is feasible.
The main goal of the proposed reserve is to strengthen the US digital asset market. The plan highlights three well-known cryptocurrency assets as essential parts of the recommended reserve structure. By suggesting a more crypto-friendly SEC chair and establishing a strategic reserve with US-based coins, President Trump reportedly intended to make cryptocurrency development easier.
Technical Analysis
The market action demonstrated that XRP has failed to hold the $2.55 support line, confirming a tug-of-war between bulls and bears.
Market indicators show that if the $2.55 support line is not recovered, the current recovery will likely be vulnerable. If the price breaks above $2.65, price discovery will occur. The RSI’s declining peaks affirmed market sentiment that such a rally was likely a liquidity trap for small portfolios.
Market Fundamentals
The main concern for Ripple is the SEC litigation and actual adoption, which is even more significant than Trump’s increased visibility of XRP. Whales understand this and would rather profit quickly than risk a false “strategic reserve” status.
Cryptocurrencies like XRP are now more accepted thanks to the SEC’s recent reform. In the past, the commission vigorously examined a variety of digital assets under Gary Gensler’s direction, even bringing legal challenges against Ripple Labs.
XRP has prospered under the Trump-led administration due to the change in regulatory attention.
XRP had no chance of success under the Joe Biden-led administration, underscoring the importance of regulatory certainty in asset performance.
Ripple Has No Obligation to XRP Holders
David Schwartz, the CTO of Ripple, recently affirmed that Ripple is under no obligation to hold XRP, attributing this notion to XRP’s security misrepresentation.
- He made his remarks in response to a continuing debate concerning Ripple’s obligations to token holders. Pierre Rochard, an XRP critic and supporter of Bitcoin, contended that Ripple has no function to benefit XRP holders. He claimed that even if selling its substantial XRP holdings hurts retail investors, the company is still free to do so. In his opinion, this is what renders XRP insecure.
- Remarkably, Schwartz concurred, stressing that Ripple acts in its best interests, like any other company.
- He likened owning XRP to owning early pieces of art by a budding artist. Investors are under no duty to support the artist’s continued creation of value that enhances their holdings, even though they may wish to.
- He emphasized that no business, including Ripple, should be expected to act against its interests to please investors. The CTO of Ripple noted that the company has been a well-known participant in the market for almost 14 years. The business has more XRP than it could realistically sell off quickly.
A well-known Ripple critic, who goes by the handle “ScamDaddy,” posted a screenshot of the exchange after Schwartz’s most recent comments. He implied that this has always been obvious and asked why anyone would be shocked by Ripple giving its business objectives top priority. In response, Schwartz said that people promoting the idea that XRP is a security are primarily to blame for the misunderstanding regarding Ripple’s role in the ecosystem.
He suggested that such a group had purposefully misrepresented how XRP and Ripple are related. “The ‘XRP is a security’ crowd is primarily to blame for purposefully causing misunderstanding regarding the connection between Ripple and XRP,” he added.
[Nairametrics]
Concerns are growing within the Nigeria Police Force (NPF) over the continued stay of Inspector General of Police (IGP) Kayode Egbetokun, despite exceeding the statutory retirement age of 60 years.
While several senior officers have been compulsorily retired due to alleged age falsification and violations of service rules, Egbetokun has remained in office, an issue that has sparked internal discontent.
By March 3, 2025, Egbetokun officially retired all his coursemates, filling their positions with senior officers perceived to be loyal to him.
However, insiders within the police hierarchy are questioning why the IGP himself has not stepped aside, despite strictly enforcing retirement policies on his colleagues.
A source within the force told SaharaReporters that Egbetokun has privately admitted that he nearly lost his position but was saved by the intervention of First Lady Remi Tinubu, with whom he is said to have close ties.
“The IGP almost lost his job, but the First Lady intervened.
“Now, he is more confident than ever and is making strategic moves to secure his position,” a senior government official revealed.
Egbetokun Moves To Force Out AIG Owohunwa
The latest officer to face uncertainty under Egbetokun’s leadership is Assistant Inspector General (AIG) Idowu Owohunwa, whom the IGP reportedly considers an “archenemy” and a threat to his continued stay in office.
Sources disclosed that Owohunwa’s retirement letter has already been prepared and is expected to be issued next week after he failed to secure promotion to Deputy Inspector General (DIG).
The Police Service Commission (PSC) declined to promote Owohunwa, effectively sealing his fate.
Earlier this week, Naija News reported that the PSC approved the appointment of six new Deputy Inspectors General of Police (DIGs) to replace those who were recently forced into retirement by police authorities.
[NaijaNews]
Super Eagles head coach, Éric Sékou Chelle, has included Kano Pillars forward Ahmed Musa in his provisional squad for the crucial 2026 FIFA World Cup qualifiers against Rwanda and Zimbabwe. This marks Musa’s return to the national team for the first time since the AFCON 2023 in Côte d’Ivoire.
Musa headlines the 39-man provisional list released by the new head coach yesterday. Genk striker Tolu Arokodare also makes the cut, following his impressive tally of 15 goals in the Belgian Jupiler League this season.
Among the fresh faces in Chelle’s provisional squad are Anthony Dennis (FC Göztepe), Papa Daniel Mustapha (Niger Tornadoes), and Slavia Prague’s Igoh Ogbu.
The squad sees the return of Kayode Bankole, the Remo Stars goalkeeper, and Southampton forward Paul Onuachu, as Nigeria aims to rekindle their hopes of qualification.
The provisional list includes prominent players such as captain William Ekong, Ademola Lookman, Victor Osimhen, Stanley Nwabali, Adeleye Adebayo, Calvin Bassey, Olaoluwa Aina, Alex Iwobi, Wilfred Ndidi, and Simon Moses.
Further inclusions comprise goalkeeper Maduka Okoye, defenders Bruno Onyemaechi and Zaidu Sanusi, midfielders Frank Onyeka and Fisayo Dele-Bashiru, as well as forwards Samuel Chukwueze and Sadiq Umar.
Defenders Igoh Ogbu and Ifeanyi Onyebuchi, midfielders Anthony Dennis, Chrisantus Uche, and Papa Daniel Mustapha, along with forwards Tolu Arokodare and Jerome Akor Adams, have received their first call-ups. Additionally, home-based goalkeeper Kayode Bankole, defender Jordan Torunarigha, midfielder Joseph Ayodele-Aribo, and forwards Cyriel Dessers and Nathan Tella could make a return if they are included in the final squad of 23 players.
Nigeria currently sits fifth in Group C, trailing behind Rwanda, South Africa, Benin Republic, and Lesotho. The Super Eagles will first face group leaders Amavubi of Rwanda in Kigali on Friday, 21st March, before squaring off against Zimbabwe’s Warriors at the Godswill Akpabio Stadium in Uyo four days later.
[Leadership]
President of Dangote Industries Limited, Alhaji Aliko Dangote, has said he is currently resting after delivering his refinery project.
The 650,000-barrel refinery and petrochemicals project worth over $20bn has come to disrupt the oil and gas market in Africa and the world even as the refinery now exports refined products to other countries in Africa and Middle East.
Dangote recently spoke about the challenges he faced constructing the refinery which he described as the biggest risk of his life, saying he went through hell.
But speaking during the groundbreaking ceremony of the 43-storey building new First Bank Head Office at Eko Atlantic City in Lagos, Dangote said he’s now resting after delivering the project.
He commended his friend and ally, Mr. Femi Otedola, who is the Chairman of FirstHoldCo for daring to put up a 43-storey edifice in Eko Atlantic as the new Head Office of FirstBank, Nigeria’s oldest financial institution.
He said Eko Atlantic has become the new City of Lagos and with FirstBank joining the list of corporate entities in the emerging industrial city, more banks would come in.
Dangote however stated that Otedola had also invited him to come to Eko Atlantic, adding, “Maybe soon, not now I’m resting right now. Having delivered the refinery I need some rest but I’ll come, I’ll be here very soon. So I want to congratulate you (Otedola) and the entire board and management of First Bank for taking this bold move of building a massive edifice in the new City of Lagos.”
The groundbreaking is being attended by Vice-President Kashim Shettima, Governors of Lagos, Ogun and Ondo – Babajide Sanwo-Olu; Dapo Abiodun and Lucky Aiyedatiwa respectively.
Others are Deputy Governor of Lagos State, Dr. Femi Hamza; former Senate President, Dr. Bukola Saraki; former Governor of Delta State, James Ibori, among others.
[DailyPost]
Popular gospel singer, Ebuka Songs has broken his silence on why he left Moses Bliss’ record label, Spotlite Nation.
DAILY POST recalls that Ebuka who signed a three-year contract with the record label, left after 11 months.
Moses Bliss during an interview in December 2024, stated that his signee, Ebuka Song left the label to pursue his music independently.
However, speaking for the first time after his departure, Ebuka stated that he left to focus on his ministry.
Speaking In an interview with the Open Up podcast, Ebuka said “I will always be grateful for Moses Bliss’ role in my life because as at that time, I had the anointing and gift but i don’t know how to go about it professionally.
“I am grateful for the journey that I have been through but at this point now, the next level is to focus on my ministry. And we are in our good space.
“The reason why I kept quiet about my exit or say anything since that time is because I don’t want it to generate more conversations. We all get to the point where we just want to be focused on the next phase of our lives, and because of the assignment of God upon my life.”
[DailyPost]
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, arrived in Milan, Italy, on Wednesday for a series of official engagements, including a meeting with the President of the Lombardy Region, Attilio Fontana.
Wike is also expected to engage with agribusiness investors during his visit.
According to a statement issued in Milan by his Senior Special Assistant on Public Communications and Social Media, Lere Olayinka, the minister departed Abuja on Tuesday night and arrived in Milan at about 4:30 a.m. on Wednesday.
He was received by the Charge d’Affaires of the Nigerian Embassy in Italy, Ambassador Mustapha Mohammed.
He said: “While in Milan, the FCT Minister will hold a meeting with the President of Lombardy Region on Thursday, and also meet agribusiness investors.
“Lombardy is adjudged as the first region of Italy in terms of economic importance, with population of about 10 million people. It is the second most populous region of the European Union (EU) and the second region of the European Union by nominal Gross Domestic Product (GDP).
“The FCT Minister’s meeting with the Attilio Fontana will center on seeking collaboration and evaluating possible prospects in the areas of Agriculture and Vocational Education, as well as strategic development partners with the Lombardy Region.
“Subsequently, Wike will meet investors in agribusiness and experts in vocational training, with a view to unlock new opportunities.
“The FCT Mandate Secretaries for Education, Dr. Danlami Hayyo and Mandate Secretary for Agriculture and Rural Development, Lawan Geidam, as well as Senior Special Assistant on Administration, Dr. Udo Samuel Atang and Senior Special Assistant on Legal and Multi-Lateral Cooperation, Barrister Benedict Daudu, accompanied the Minister on the trip”.
The Rivers State Government has said it has yet to receive any document on the Martin Amaewhule-led House of Assembly resolution following last Friday’s Supreme Court judgment.
Recall that the Speaker, Martin Amaewhule, in a letter addressed to the Rivers State Governor, Siminalayi Fubara, on Monday, requested the latter to present the 2025 Appropriation Bill to the House within 48 hours, in line with the 1999 Constitution.
However, in a statement on Wednesday, the Secretary to the Rivers State Government, Dr Tammy Danagogo, maintained that the governor has yet to receive the letter, saying the state government heard of the purported on social media.
The statement reads, “I hereby refer to a letter dated 3rd March 2025 on the above subject, which we came across on social media and notify you that, as at the close of work on Tuesday 4th March, 2025, we are yet to receive the said letter. Neither the office of the Governor, nor the Deputy Governor’s office, nor the office of the Accountant-General of the State has received the said letter”
Dr Danagogo also stated that the state government had yet to receive a copy of the Supreme Court judgement to enable it to respond appropriately.
He said, “We have since been in contact with our lawyers who are still awaiting the certified true copy of the judgments of the Supreme Court, and hereby reassure you and all the good people of Rivers State that as soon as His Excellency receives the judgments, he will strive to implement same timeously in the best interest of our
people.”
However, the SSG assured the people of the state of the governor’s commitment to abiding by the rule of law, as he had noted earlier in his statewide broadcast.
He added, “Please, recall that His Excellency, Siminalayi Fubara, had in a State Broadcast on Sunday 2nd March, 2025, stated clearly that notwithstanding his personal opinion on the Supreme Court Judgments, he will, as a law-abiding Nigerians, obey and implement their decisions in accordance with the rule of law and the best interest of the people of Rivers State.”
[Punch]
The President of the Senate, Godswill Akpabio has denied the sexual harassment allegation levied against him by his colleague, Senator Akpoti-Uduaghan.
Responding to the petition submitted against him (Akpabio) at the plenary session on Wednesday, the Senate President said, “I will like to state clearly that at no time did I ever attempt any sexual harassment on the said Senator Akpoti-Uduaghan or any other woman for that matter. I and my siblings were raised very well by my late single mother who died in year 2000.”
Monguno, Bamidele tackles Natasha’s petition
However, confusion arose when the Senate Chief Whip, Senator Mohammed Monguno (APC, Borno North), raised Order 40 of the Senate Standing Orders, stating that the matter could not be entertained or referred to the Ethics Committee on the grounds that Senator Natasha Akpoti-Uduaghan and the wife of the Senate President, Mrs Ekaette Akpabio, were in court and the issue was sub judice. He further argued that, in line with the Order, the petition could not be taken because Senator Natasha signed it.
Also opposing the petition’s referral to the Ethics Committee was the Senate Leader, Senator Opeyemi Bamidele (APC, Ekiti Central), who aligned with the Chief Whip’s position and advised that the Senators hold a closed-door session.
Senator Bamidele stopped at 12:31, but Akpabio ruled that the house would proceed with the business of the day due to visitors in the gallery witnessing the proceedings.
Recall that a heated confrontation erupted during the Senate plenary session last penultimate Thursday when Senator Akpoti-Uduaghan protested the reassignment of her seat by Senate President Godswill Akpabio. Tension rose as she arrived to find her seat reassigned and her nameplate removed.
Senator Akpoti-Uduaghan, raising her voice in protest, demanded an explanation for what she perceived as an unjustified move.
[Vanguard]
Two Nigerian entrepreneurs, Manzo Nyifamu Ogechi, founder of Farmatrix, and Solape Akinpelu, founder of Hervest, have been named among the top 10 finalists for the 2025 Aurora Tech Award.
The award, organised by inDrive, a mobility and urban services platform, supports women-led innovations that drive social impact and technological advancement.
Speaking on the selection in a statement on Wednesday, Isabella Ghassemi-Smith, head of start-up at Aurora Tech Awards, said the finalists span industries like artificial intelligence (AI), fintech, and health tech, agrotech, eco-tech, ed-tech, and HR-tech.
She added that half of the start-ups are in the seed stage, three are at the pre-seed stage, and the remaining have secured early funding from personal networks or angel investors.
“This year’s shortlist features trailblazing founders from MENA, LATAM, Central Asia, and APAC, each leading start-ups offering solutions across industries ranging from artificial intelligence and fintech to health tech and beyond,” she said.
“This year’s finalists have demonstrated exceptional leadership and technological advancements in their respective fields. Half of the start-ups are at the seed stage, three projects are at the pre-seed level, and the rest are at the FFF and angel investment stages. Three start-ups focus on health tech, one on agrotech, one on eco-tech, two on ed-tech, one on fintech, and one on HR-tech,”
Other finalists include founders from India, Colombia, Kyrgyzstan, Brazil, Switzerland, Uzbekistan, Chile, and French Polynesia.
A panel of industry experts and investors is expected to evaluate the participants’ work before announcing the winner at the award ceremony, set to take place from April 11 to 13 in Cairo, Egypt.
The winner will receive a $30,000 prize.
[TheCable]
Former Comptroller-General of the Nigerian Immigration Service, David Shikfu Parradang, has been reportedly killed by kidnappers.
Reports indicate that the deceased was killed after being abducted in Abuja on Monday night.
The Federal Capital Territory, FCT, Police Command is yet to react to the unfortunate incident.
Efforts by DAILY POST to reach the FCT Police Public Relations Officer, SP Josephine Adeh, were not successful at the time of reporting.
CG David Parradang spent over 30 years in public service at the Nigerian Immigration Service, having worked across the country in Kano, Lagos, Kwara, Enugu, and the Federal Capital Territory.
[DailyPost]
More...
The House of Representatives has directed Multichoice, the operator of DStv and GOtv, to halt its planned subscription rate increase, citing the prevailing economic hardship in the country.
The Pay-TV provider had recently announced a price adjustment effective from March 1, with the DStv Premium package rising from N37,000 to N44,500, while Compact+ subscribers would pay N30,000 instead of N25,000. The Compact bouquet would also increase from N17,000 to N19,000.
The directive followed a motion moved by Esosa Iyawe, an All Progressives Congress lawmaker from Edo State, during plenary on Tuesday.
Iyawe said, “Multichoice recently announced a hike in subscription rates across all its packages, citing rising operational costs. However, this marks the second increase in less than a year, with the last adjustment made in May 2024.”
He noted that the previous hike triggered widespread public outrage, with many Nigerians, already grappling with economic challenges, abandoning their decoders due to a lack of competition in the pay-TV sector.
“Multichoice’s dominance in the market means any price increase has a widespread impact, putting consumers under undue financial pressure,” he added.
Following the adoption of the motion, the House resolved that Multichoice should suspend the proposed hike pending a thorough investigation.
The lawmakers also mandated the Committee on Commerce to probe the recurring increases in subscription fees, to ensure cost-effective policies for Nigerian consumers.
The committee was given four weeks to submit its findings.
[Punch]
Seyi Tinubu, son of President Bola Tinubu on Monday, March 3, 2025, joined the Kano State chairman of the New Nigerian Peoples Party (NNPP) Hashimu Dugurawa and residents of the state to break the third-day Ramadan fast.
During the fast-breaking occasion, which took place at Al-Furqan Mosque in the Kano metropolis, Tinubu unveiled a feeding programme for the less privileged in the state.
The programme is said to be part of Seyi Tinubu’s Renewed Hope Youth Engagement initiative for vulnerable groups.
While unveiling the initiative Tinubu emphasised the importance of social welfare particularly during the Ramadan period, and also stressed his commitment to initiatives that uplift the less privileged and foster national unity.
Earlier, the President’s son had paid a courtesy visit to the Kano-based business mogul, Alhaji Aminu Dantata at his residence.
He also paid a visit to the State Governor, Abba Yusuf, after which he broke fast with residents of the state at the Amani Event Centre.
United States President Donald Trump has announced plans to halt federal funding for colleges, schools, and universities that permit “illegal protests”.
In a post on Truth Social, Trump also warned that protesters could face imprisonment, while foreign students involved in demonstrations risk deportation.
He said protesters who are American students would be expelled from the school based on their offence.
“All federal funding will STOP for any College, School, or University that allows illegal protests,” Trump wrote.
“Agitators will be imprisoned/or permanently sent back to the country from which they came. American students will be permanently expelled or, depending on on the crime, arrested. NO MASKS! Thank you for your attention to this matter.”
The announcement has sparked widespread debate across the US political landscape.
Supporters argue that the measure will help maintain order on campuses and prevent disruptions, while critics warn it could undermine free speech and disproportionately target specific groups.
The White House has not yet provided further details on how the policy would be implemented or what constitutes an “illegal protest”.
[TheCable]
Bitcoin Falls Below $90,000 as Crypto Market Sheds $661 Million Following Trump’s Reserve Plans and Tariff Fears
Admin
Bitcoin and other major cryptocurrencies surged Sunday after President Donald Trump announced plans for a U.S. crypto reserve that would include XRP, Solana, and Cardano. His initial post on Truth Social did not mention Bitcoin, leading to speculation, but he later clarified, stating, “And, obviously, BTC and ETH, as other valuable cryptocurrencies.” Bitcoin briefly neared $95,000, while Ethereum surpassed $2,500.
By Monday, the market rally had faded. Bitcoin dropped nearly $4,000, falling below $90,000 before recovering slightly to $90,529. At one point, it hit $86,366, down 5.69%. Ethereum slipped to $2,192, Solana to $148, and XRP to $2.47. Cardano, down to $0.90, remained one of the few cryptocurrencies in the top 10 showing gains over the past week, rising 24% in seven days.
The sell-off coincided with broader declines in traditional markets. The S&P 500 and Nasdaq fell amid concerns over Trump’s trade tariffs, which are set to take effect Tuesday on Canada and Mexico, with additional measures targeting China. Nvidia’s stock dropped more than 6%. Gold, in contrast, gained 1.66% to $2,895. Inflation worries and trade policy uncertainties contributed to the downturn, overshadowing Sunday’s crypto surge.
Mark Connors, chief investment strategist at Risk Dimensions, suggested that Trump’s comments may have been an attempt to set a positive tone ahead of a White House crypto summit scheduled for Friday. “Last month’s poor market sentiment remains unchanged,” he said, pointing to ongoing macroeconomic pressures.
The sharp price swings triggered $661 million in futures liquidations over 24 hours, wiping out $517 million in long positions. Bitcoin saw the largest liquidations, at $220 million, followed by Ethereum at $131 million. Solana, XRP, and Cardano were also heavily impacted.
Dogecoin, which was not included in Trump’s crypto reserve plans, also dropped, losing 9% to trade at $0.206. The overall crypto market is down 8% in the past day as excitement over Trump’s reserve announcement gave way to concerns over broader economic challenges.
[Coin Market Cap]