This week, Ripple is back in focus as CEO Brad Garlinghouse prepares to testify before the U.S. Senate. The hearing scheduled for Wednesday will discuss the future of cryptocurrency regulation in the country.
Preparation for Senate Hearings
Garlinghouse expressed his excitement on social media, stating that he is honored to speak before the Senate Banking Committee about the need for clear rules for the crypto market. He thanked Senators Tim Scott, Cynthia Lummis, and Ruben Gallego for their leadership in supporting digital assets.
Cryptocurrency Market and XRP Price Forecast
XRP's price has shown some bullish signs, recently finding support around $2.20 and now eyeing a key resistance zone between $2.31 and $2.35. If XRP manages to close above $2.36, it could open the door for a move toward $2.44. However, analyst Josh from Crypto World warns that XRP might be forming a rising wedge pattern, which statistically tends to break to the downside.
Current Market Situation Analysis
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.
Garlinghouse's testimony in the Senate could significantly impact the future of cryptocurrency regulation in the U.S. Stakeholders are urged to keep an eye on market changes and upcoming events.
