Ripple CEO Brad Garlinghouse is reportedly being considered for a major role in President Trump’s U.S. Crypto Advisory Council, a move that has crypto enthusiasts buzzing. With the potential to shape crypto policies, many are now wondering if this could send XRP’s price soaring to a whopping $5.5!
Ripple CEO In U.S. Crypto Advisory Council!
Ripple CEO Brad Garlinghouse is reportedly being considered for a key position on President Donald Trump’s U.S. Crypto Advisory Council, according to a Coinpedia report.
This council, which was created by an executive order during Trump’s first week back in office, is expected to play a significant role in shaping the future of cryptocurrency regulations in the United States.
The news of Garlinghouse possibly joining this influential board has sparked excitement among crypto enthusiasts. Many believe that his involvement could drive XRP’s price significantly higher, with some speculating it could even reach $5.5.
Ripple’s Growing Impact on Crypto Market
But that’s not the only factor fueling the excitement, the possibility of a spot XRP ETF approval is also on the corner. Major financial players like Bitwise, WisdomTree, and Grayscale have already filed for XRP ETFs, which could open the doors for institutional investment and drive up demand.
Coinpedia reported that Garlinghouse has asked for the inclusive of XRP alongside of bitcoin while considering the country’s strategic reserve.
Apart from this growing demand for Ripple’s blockchain technology among financial institutions for cross-border payments. This growing adoption of Ripple’s solutions is another strong indicator of XRP’s potential for long-term growth.
Could $5.5 Be Within Reach For XRP?
As of now, XRP price is hovering around $2.42, reflecting a slight rise over the past 24 hours, in line with the broader crypto market correction. However, XRP is in a consolidation phase, testing support at $2 and facing resistance at $2.90.
The key factor for XRP’s next move is whether it can hold support above its 50-day SMA. If it does, it could see an upward momentum, targeting Fibonacci extension levels at $3.52, and $4.52, and potentially reaching $5.5.
But, if the price fails to maintain support, XRP could face a downturn, with the 200-day SMA at $1.32 serving as a critical level to monitor.
