Delhi CM Rekha Gupta announced the city will soon have the most EV buses, with 500 more being launched. The government aims for a total fleet of 11,000 by 2028, with a plan to convert 100% of public transport buses to electric in three years.
The XRP price has hit oversold levels, marking its lowest readings in history. A crypto analyst has reported that each time XRP has reached these levels, a price bounce has followed. Based on this, he believes that XRP could be on the verge of another major rebound, projecting a potential rally above $2. XRP Price Sinks To Oversold Levels Ahead Of Rebound A crypto market analyst known as ‘Ripple Bull Winkle’ on X has outlined a short-term bullish outlook for XRP. Despite consistently breaking key support levels and now trading around $1.4, the analyst argues that XRP may be positioning itself for a substantial recovery that could ultimately push its price back above $2. Related Reading: Pundit Says XRP Price Is Not A ‘Crypto’ Question, But A Systemically Important Liquidity Asset The basis for Ripple Bull Winkle’s optimism stems from a recurring historical pattern that, in his view, has never failed to produce a bounce in the XRP price. Specifically, the analyst highlights a repeating Relative Strength Index (RSI) pattern. He announced that XRP recently reached an RSI of 20 on the daily chart, marking the most oversold reading in its history. According to the analyst, every time XRP has entered similarly extreme oversold territory, a price bounce of approximately 15-40% has always followed. He said such rebounds typically occur within two weeks of reaching these levels. He also emphasized that this recovery has not happened occasionally but consistently, reinforcing his confidence that XRP is likely to follow the same pattern and bounce again. If everything plays out as expected, Ripple Bull Winkle projects that XRP could see a relief bounce to $2.20-$2.50 before the end of February 2026. He noted that a rally to this bullish target is the highest-probability event the market has had this year. Analyst Shares Multiple Resistance Targets For XRP Looking at Ripple Bull Winkle’s accompanying price chart, he has marked several key resistance zones using red horizontal lines, indicating areas where XRP may encounter selling pressure or struggle to advance. These levels range from approximately $1.8-$1.91 to $2.06-$2.19, followed by $2.29-$2.41, $2.67-$2.78, and a higher resistance band near $3.10-$3.18. Related Reading: Rising Above The Ashes: XRP ETFs Set New Record Despite Market Crash Collectively, these levels serve as both potential barriers that could slow price movement and upside targets that XRP is expected to reach. The upward-pointing blue arrows in the chart also signal the analyst’s expectation of a bullish breakout or a sustained rally toward the stacked resistance levels if XRP builds enough momentum. As of writing, XRP appears to be recovering from its recent downtrend. Its price has rebounded by more than 10% over the past 24 hours and is currently trading above $1.4 after briefly dipping below $1.3, according to CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
The Income Tax Department on Feb 6, released the draft Income-tax Rules, 2026, providing the detailed procedural framework required to implement the new Income-tax Act, 2025 from April 1, 2026. The draft rules, along with proposed income-tax return (ITR) forms, have been placed in the public domain for stakeholder consultation until February 22, 2026. Taxpayers, chartered accountants, industry bodies, and other stakeholders have been invited to submit their suggestions and feedback before the rules are finalised. While the Income-tax Act, 2025 lays down the substantive law governing taxation, the draft rules explain how the law will function in practice. They spell out procedural aspects such as valuation methods, filing formats, documentation requirements, and compliance obligations for taxpayers, professionals, and tax authorities. Tax experts say the timely release of the draft rules is crucial to ensure a smooth transition to the new regime. “On Budget Day, the Finance Minister had clearly stated that the new Income-tax forms and rules would be released well in advance so that taxpayers and professionals are not caught unprepared,” said Himank Singla, Founding Partner at SBHS & Co., speaking to media. “With the Act scheduled to come into force from April 1, 2026, the government has now taken an important step by releasing the draft rules and forms for public consultation,” he added. One of the most notable features of the draft rules is the sharp reduction in their overall volume compared to the existing framework. According to Pratibha Goyal, a New Delhi-based chartered accountant, the move represents a conscious effort to declutter tax law. “The Income-tax Act, 1961 was supported by 511 rules. Under the new framework, these have been reduced to 323 rules, making the system far simpler and easier to understand,” she said. Once finalised, the Income-tax Rules, 2026 will replace the Income-tax Rules, 1962, which have governed India’s tax administration for more than six decades. Officials say the overhaul is aimed at eliminating redundancies that crept into the system through repeated amendments over the years. “The focus is clearly on simplification, removal of obsolete provisions, and better readability,” Singla noted. “The draft rules rely more on tables, formulas, and structured formats, making compliance more objective and reducing interpretational disputes between taxpayers and the department.” On the compliance front, the draft rules also propose rationalised and standardised income-tax return forms across categories. The government has indicated that the new forms will be redesigned to leverage technology and automation. Key features include greater use of pre-filled data, automated reconciliation, and system-driven checks to minimise errors at the filing stage. Officials believe this will significantly improve the taxpayer experience while enhancing the efficiency of centralised processing systems within the Income Tax Department. “This is expected to reduce errors, improve ease of compliance, and make processing faster and more accurate,” Singla said. The release of the draft rules well ahead of the implementation date is being seen as an attempt to ensure predictability and preparedness among taxpayers and professionals. The consultation window allows stakeholders to flag practical challenges, suggest refinements, and seek clarifications before the rules are notified in final form. The Income-tax Act, 2025 represents one of the most comprehensive rewrites of India’s direct tax law since 1961. By pairing the new Act with a leaner and more structured set of rules, the government aims to move towards a tax system that is easier to comply with, simpler to administer, and less prone to disputes.
(MENAFN - Crypto Breaking) Bitcoin 's slide below $70,000 is dividing market participants, according to Bitwise CEO Hunter Horsley. Long-time holders appear uneasy as prices slip, while a fresh ...
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