Bitcoin's price briefly dropped below $70,000 amid pressure from CPI data publication and miner selling pressure. Meanwhile, spot ETFs continued the capital inflow momentum from March, with net inflows reaching $1.56 billion. Goldman Sachs is currently the largest holder of XRP ETF with $154 million in holdings. Last quarter, institutional investors increased their positions in Solana ETF by over $540 million. In an important infrastructure initiative, StablecoinX SPAC received 97% shareholder vote approval for a Nasdaq listing under the ticker "USDE" and secured $360 million in private equity financing (PIPE).

Kevin Warsh was formally nominated as Federal Reserve Chair and submitted to the Senate for consideration on March 4th. Due to his historically hawkish stance, which contradicts the loose monetary cycles that drive cryptocurrency gains, this has put pressure on XRP. Although he recently supported rate cuts, his past opposition to quantitative easing and criticism of loose monetary policy have created uncertainty for XRP's price movement this year.