Key points:
Ripple CEO Brad Garlinghouse to attend the White House Crypto Summit, fueling speculation on the SEC’s stance on XRP.
The US considers a Crypto Strategic Reserve Asset—will XRP’s inclusion drive demand and push prices beyond $3.55?
Crypto market awaits clarity on a multi-crypto reserve as XRP-spot ETF hopes and SEC legal battles intensify.
Ripple CEO Brad Garlinghouse and the White House Crypto Summit
Fox Business journalist Eleanor Terrett shared an updated list of attendees at the White House Crypto Summit on Thursday, March 6. Ripple CEO Brad Garlinghouse was a notable addition.
Despite the ongoing SEC vs. Ripple case Brad Garlinghouse will attend Friday’s first-ever White House Crypto Summit. His presence could fuel speculation about the SEC’s stance on its appeal, challenging the programmatic sales of XRP ruling
The US administration is unlikely to invite a crypto CEO entangled in SEC litigation unless discussions regarding the appeal are on the agenda.
XRP and the US Crypto Strategic Reserve Asset
Friday’s Crypto Summit could be a turning point for the US crypto market. Markets expect the administration to provide further details on plans for a Crypto Strategic Reserve Asset. A substantial XRP allocation in the Crypto Strategic Reserve Asset could significantly shift the supply-demand balance in XRP’s favor.
Including XRP in the Crypto Strategic Reserve Asset could also influence the SEC’s appeal strategy in the Ripple case.
Other key attendees at Friday’s round table include Kris Marszalek (Crypto.com CEO), Arjun Sethi (co-CEO Kraken), Brian Armstrong (Coinbase CEO), Vlad Tenev (RobinhoodApp CEO), and Michael Saylor (founder and Chairman of Microstrategy).
XRP Price Trends: SEC Appeal and White House Crypto Summit in Focus
On Thursday, March 6, XRP rallied 3.94%, following Wednesday’s 1.88% gain, closing at $2.6001. XRP outperformed the broader market, which dropped 0.69%, taking the total crypto market cap to $2.9 trillion. Hopes for the SEC to withdraw its Ripple case appeal drove XRP demand.
Near-term XRP price trends will hinge on three factors:
US Strategic Reserve Asset: Government crypto allocations could influence market sentiment.
SEC Appeal Strategy: A dropped appeal may push XRP beyond its $3.55 all-time high, while ongoing legal uncertainty could drag prices below $1.50.
XRP-Spot ETF Developments: Regulatory approval for an XRP-spot ETF could attract institutional inflows and drive prices toward $5.
