Ripple CEO Brad Garlinghouse Testifies in Senate: Will XRP Price Surge or Stumble?
Ripple's Brad Garlinghouse storms Capitol Hill today—just as XRP traders hold their breath for a regulatory breakout.
Senate showdown: Crypto's favorite courtroom drama spills into Congress.
Garlinghouse brings his A-game (and probably PowerPoint slides) to convince lawmakers that XRP isn't the villain in their regulatory horror story.
Meanwhile, traders eye the charts like Wall Street brokers watching the Fed chair's coffee order for policy hints.
Will this hearing trigger the mother of all buy-the-news rallies? Or will XRP get caught in crossfire like an unsecured stablecoin?
One thing's certain: the SEC wishes it could move this fast when processing Bitcoin ETF applications.
Ripple is back in focus this week as CEO Brad Garlinghouse prepares to testify before the U.S. Senate. The hearing, scheduled for Wednesday, will discuss the future of cryptocurrency regulations in the country.
Garlinghouse shared his excitement on social media, saying he’s honored to speak before the Senate Banking Committee about the need for clear crypto market rules. He thanked Senators Tim Scott, Cynthia Lummis, and Ruben Gallego for their leadership in supporting digital assets.
The timing is important, as lawmakers are also reviewing other crypto-related bills, including one for stablecoins and another focused on market structure for digital assets. If approved, these bills could provide much-needed clarity for the U.S. crypto industry.
XRP Price Prediction: What’s Next?
Meanwhile, XRP’s price has been showing some bullish signs. On the 12-hour chart, XRP recently found support at around $2.20 and is now eyeing a key resistance zone between $2.31 and $2.35. However, the price has struggled to break above it several times in the past.
If XRP manages to close above $2.36 on the daily chart, it could open the door for a MOVE toward $2.44 in the short term, with a stronger resistance waiting between $2.60 and $2.65, a range last seen in mid-May.
However, analyst Josh of Crypto World also warns that XRP might be forming a rising wedge pattern, which statistically tends to break to the downside. If this happens, XRP could drop back toward $2.20 or even $2.16-$2.17.
The broader crypto market is still in an accumulation phase, with large investors quietly buying XRP while prices remain stable. If global liquidity continues to rise and crypto legislation moves forward, XRP could be well-positioned for a stronger rally.
