- Bill aligns with Trump’s crypto agenda, pressuring federal reforms and inspiring Republican-led states to follow suit.
- Supporters foresee economic growth; critics warn of federal-state tax clashes and filing complexities as key risks.
Florida lawmakers have introduced a bill to remove state capital gains taxes on profits from cryptocurrencies like Bitcoin and XRP, as well as traditional stocks. If passed, the legislation would allow investors to retain more earnings from asset sales, positioning Florida as a potential hub for crypto activity.
The proposal, backed by Governor Ron DeSantis and Republican legislators, aligns with former President Donald Trump’s pro-crypto agenda and could influence broader U.S. tax policy.
The bill exempts state-level taxes on capital gains but leaves federal taxes unchanged. Investors would still owe federal rates of up to 37% on short-term profits, though Florida’s move aims to reduce local burdens.
Bitcoin rose 2.4% to $109,835 following the announcement, while XRP gained 2.2% to $2.34. ETHNews analysts suggest the policy could accelerate Bitcoin’s climb toward $135,000 if replicated in other states.
The initiative mirrors Trump’s push for crypto-friendly regulations, leveraging Republican control in 27 states to advance similar reforms. Proponents argue Florida could attract businesses and high-net-worth investors seeking tax relief. Critics warn of complications, noting discrepancies between state and federal rules might confuse filers.
Broader Crypto Market Considerations
Florida’s proposal arrives as Bitcoin and XRP show steady growth:
- Bitcoin: +16.55% (30 days), +19.6% (3 months)
- XRP: +5.42% (30 days), +2.71% (3 months)
A state-level tax shift could pressure Congress to reassess federal crypto policies, potentially streamlining regulations. For now, the bill underscores a growing divide between state and federal approaches to digital assets.
XRP (Ripple) – Real Price & Market Analysis – May 26, 2025
XRP is currently trading at $2.314, down -1.26% on the day and -4.74% over the past week, indicating a phase of price consolidation below the $2.40 level. Despite the short-term pullback, XRP is still up +6.03% over the last month and a remarkable +327.79% year-over-year, demonstrating strong recovery and long-term bullish momentum.
From a technical standpoint, XRP is trading below its 100-hour Simple Moving Average and facing resistance near $2.38, which aligns with the 50% Fibonacci retracement level from the recent downswing.
Support currently sits around $2.25, and any failure to hold this range could trigger a deeper correction toward $2.00–$1.90. However, a clean breakout above $2.38 could re-ignite bullish momentum and push XRP toward $2.70–$3.00.
Latest Market Updates:
- XRP futures launched on the CME and the XRPI Futures ETF debuted on Nasdaq, signaling rapidly growing institutional interest.
- A new 2x Long Daily XRP ETF was also introduced, targeting high-risk leveraged traders.
- Dubai unveiled a government-backed property tokenization platform on the XRP Ledger, expanding XRP’s real-world application in tokenized real estate.
In addition, legendary trader Peter Brandt announced he may allocate $100,000 to XRP or Solana, a surprising reversal from his past skepticism of XRP, which has added a layer of credibility to XRP’s market potential.
