Ripple's CEO, Brad Garlinghouse, is set to testify before the U.S. Senate on Wednesday to discuss the future of cryptocurrency regulations. He expressed his enthusiasm on social media, highlighting the importance of clear rules for the crypto market. The hearing coincides with lawmakers reviewing several crypto-related bills, including those on stablecoins and digital asset market structure. If passed, these bills could bring much-needed clarity to the U.S. crypto industry.
XRP Price Analysis:
- XRP found support at $2.20 on the 12-hour chart and is targeting a resistance zone between $2.31 and $2.35.
- A daily close above $2.36 could lead to a short-term move toward $2.44, with stronger resistance between $2.60 and $2.65.
- However, a potential rising wedge pattern could lead to a downside break, potentially dropping XRP's price to $2.20 or $2.16-$2.17.
- Large investors are accumulating XRP, and favorable crypto legislation could position XRP for a stronger rally.
Key Price Levels:
- Support: $2.20
- Resistance: $2.31-$2.35, $2.44, $2.60-$2.65
Current Price: XRP is trading at $2.2634, with a 0.09% decrease.
XRP Price Analysis:
- XRP found support at $2.20 on the 12-hour chart and is targeting a resistance zone between $2.31 and $2.35.
- A daily close above $2.36 could lead to a short-term move toward $2.44, with stronger resistance between $2.60 and $2.65.
- However, a potential rising wedge pattern could lead to a downside break, potentially dropping XRP's price to $2.20 or $2.16-$2.17.
- Large investors are accumulating XRP, and favorable crypto legislation could position XRP for a stronger rally.
Key Price Levels:
- Support: $2.20
- Resistance: $2.31-$2.35, $2.44, $2.60-$2.65
Current Price: XRP is trading at $2.2634, with a 0.09% decrease.
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XRP
2.2931
+0.02%