XRP Price Prediction: XRP Soars 4% Ahead of Ripple CEO Brad Garlinghouse’s Senate Testimony on Crypto Regulation

The XRP price has soared 4% in the last 24 hours to trade at $2.28 on a 78% pump in trading volume to $4.68 billion.

XRP Price Jumps as Ripple CEO Testifies on Crypto Regulation

This surge in XRP price comes as Ripple CEO Brad Garlinghouse prepares to testify before the U.S. Senate Banking Committee on July 9, where lawmakers will discuss new crypto regulation proposals. The hearing has sparked hope among XRP holders for long-awaited clarity on the token’s legal status.

XRP has faced regulatory confusion for years, despite early government recognition and Ripple’s ongoing engagement with federal agencies. The upcoming hearing is seen as a major step toward resolving these issues, with Ripple’s CEO expected to advocate for a consistent, unified approach to crypto regulation.

Senate Hearing Fuels XRP Hope

XRP holders want clearer rules as mixed messages from regulators and private companies have created confusion about XRP’s legal status. Even though Coinbase listed XRP and MoneyGram used it for payments, the SEC still sued Ripple in 2020, claiming it sold unregistered securities. This shocked investors who thought Ripple’s work with government agencies would protect it.

Now, Ripple CEO Brad Garlinghouse and other crypto leaders will speak to the U.S. Senate about how unclear rules are slowing down innovation. They’ll push for a more consistent and fair approach to crypto regulation. XRP holders hope this leads to clearer laws for the future.

XRP Price Consolidates Above Key Liquidity Zones

The daily chart for XRP shows strong signs of a possible breakout as its price holds above important support levels. XRP is now trading around $2.28 after bouncing off the $2.00 zone, where many traders were likely stopped out. This bounce signals a possible shift from a bearish trend to a bullish one.

The chart also shows that XRP may have formed a rounded bottom pattern, which often leads to price increases. There’s a key resistance zone between $2.50 and $3.00 that XRP has struggled to break in the past. If the price can move above this level, it may quickly rise to the $3.00 target area, which is marked as the “reward zone.”

Several bullish signs support this move. The Relative Strength Index (RSI) is near 52, showing healthy buying strength without being overbought. Also, important trading signals like “break of structure” (BOS) and order block (OB) reactions suggest growing buying pressure.

XRP Price Forms Bullish Pattern as Price Targets $3.00

The chart also hints at a “cup and handle” pattern forming, a classic sign that the market could move higher. XRP recently cleared out low points where sellers were active (called “sell-side liquidity”) and is now pushing toward areas where buyers might be waiting.

In short, XRP is showing momentum and may be preparing for a strong upward move. If it breaks above the $2.50 resistance level, the price could quickly rise toward $3.00. But if it falls back below $2.20, the bullish setup might be delayed.