XRP Set to Rally as Ripple Joins US Senate Web3 Summit
XRP is poised for a rally as Ripple CEO Brad Garlinghouse joins the US Senate Banking Committee’s “From Wall Street to Web3” summit on Wednesday. This high-profile appearance could bring regulatory clarity and boost investor confidence in XRP.
Technically, XRP has broken above the key $2.34 resistance. The 20-day EMA is rising and the RSI has entered positive territory, confirming bullish momentum. A sustained close above $2.34 may propel the price to $2.48 and $2.65. Clearing $2.65 targets $2.76, completing an inverse head-and-shoulders pattern on the 4-hour chart.
Traders should watch the 50-SMA support level. A drop below moving averages risks a pullback to $2.15 or $2.00. Overall, technical indicators and developing US Senate engagement create a cautiously bullish outlook for XRP. Market participants await policy signals from the Web3 summit to gauge short-term sentiment and long-term adoption trends.
Bullish
The news combines a technical breakout above $2.34 with a potentially market-moving regulatory event. In the short term, the RSI and rising EMA indicate bullish momentum, and key levels at $2.48, $2.65, and $2.76 offer clear upside targets. Conversely, a close below the 50-SMA could trigger a pullback to $2.15 or $2.00, underscoring manageable risk. In the long term, Ripple CEO Brad Garlinghouse’s testimony at the US Senate Web3 summit may improve regulatory clarity, increase institutional interest, and support broader XRP adoption. Historical precedents show that regulatory engagement often lifts crypto assets. Thus, the combined technical and fundamental catalysts point to a bullish outlook for XRP.