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Ripple Price Prediction as CEO Brad Garlinghouse Heads to Senate For Crypto Hearing
As the CEO of Ripple, Brad Garlinghouse is about to make a significant appearance before the U.S. Senate Banking Committee for a hearing on cryptocurrency regulations. This move comes at an interesting time when lawmakers are reviewing bills aimed at clarifying the regulatory landscape for digital assets.
Before his testimony, it’s essential to analyze the current market sentiment and any potential implications of the upcoming event on Ripple’s price. In this article, we’ll provide a comprehensive Ripple (XRP) price prediction based on recent trends and technical indicators.
On the 12-hour chart, XRP has been showing some promising signs. A key resistance zone between $2.31-$2.35 is currently being tested by the cryptocurrency, with previous attempts failing to break above it. If the price can close above $2.36 on the daily chart, a short-term move toward $2.44 could be possible, with stronger resistance waiting at $2.60 and $2.65, last seen in mid-May.
However, not everyone shares the same optimistic outlook. Analyst Josh from Crypto World suggests that XRP might be forming a rising wedge pattern, which statistically tends to break to the downside. If this scenario unfolds, we could see XRP drop back toward $2.20 or even $2.16-$2.17.
In any case, the broader crypto market remains in an accumulation phase, with large investors quietly building positions while prices remain stable. If global liquidity continues to increase and crypto legislation advances, Ripple (XRP) could be well-positioned for a more substantial rally.
As the CEO of Ripple prepares to testify before the Senate, it’s essential to consider the potential implications on XRP’s price. The current market sentiment seems poised for an upward movement if positive comments are made during the hearing and the regulatory environment becomes clearer. Nevertheless, any negative or unclear information could lead to significant losses.
It is crucial to monitor the event closely and adjust our Ripple price prediction accordingly.
Source: coinpedia.org
