XRP news: Price nears $2.40 as Garlinghouse testifies before U.S. Senate
XRP price nears key resistance as Ripple CEO addresses Senate on digital assets
XRP is trading near a critical resistance zone as Ripple CEO Brad Garlinghouse addressed U.S. lawmakers this week, renewing focus on digital asset regulation and the role of blockchain in global finance. The price of XRP has climbed above $2.36, reclaiming key technical levels while building momentum toward the $2.70 region.
Highlights
- XRP price tests $2.40 following bullish breakout and regulatory momentum from Senate hearing
- Ripple CEO Brad Garlinghouse urges clear U.S. rules, spotlights XRP’s role in global finance
- Technicals align as EMAs and Bollinger Bands support potential push toward $2.70 and beyond
Ripple’s push for regulatory clarity aligns with XRP’s breakout
In testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Garlinghouse emphasized the importance of establishing clear rules for digital asset markets. He highlighted Ripple’s compliance-first approach and the expanding role of the XRP Ledger (XRPL) as a scalable blockchain for cross-border payments and stablecoin issuance. The hearing, titled “From Wall Street to Web3,” aimed to explore the evolving intersection of traditional finance and decentralized platforms.
XRP price dynamics (Source: TradingView)
The timing of Garlinghouse’s remarks coincides with XRP’s bullish structure across multiple timeframes. On the weekly chart, the asset has reclaimed the 0.382 Fibonacci level at $2.2680 for the first time since early May. Price is now challenging the $2.40 region, a key pivot that could unlock the path toward $2.70 if sustained. XRP’s structure has also shifted on the daily chart, with a breakout above the descending trendline that contained price since February. The higher low at $2.06 and subsequent rally signal trend reversal confirmation.
Momentum and volume align as price targets $2.70
XRP’s 4-hour chart reveals strong technical alignment. The 20-period EMA has crossed above the 50, 100, and 200 EMAs, confirming short-term bullish control. Price is also pressing the upper Bollinger Band with continued expansion, suggesting building volatility in favor of buyers. Parabolic SAR on the daily chart remains supportive, with trend-following momentum intact above $2.30. The next resistance lies at $2.70, a level that coincides with prior weekly rejection wicks and Fibonacci confluence.
If buyers manage a weekly close above $2.70, XRP could extend its rally toward $3.00 and even $3.40 over the coming weeks. On the downside, failure to hold $2.30 could bring a retest of the $2.10 demand base. Market attention remains firmly on the $2.40–$2.70 range for a confirmed directional breakout.
In earlier coverage, we highlighted XRP’s push toward $2.273 as a key breakout signal after piercing the upper Bollinger Band. At that time, momentum indicators showed bullish continuation, with EMAs aligning and the $2.30 level serving as both resistance and a short-term magnet. That analysis aligns with the current move, which confirms the structural shift toward the $2.70–$3.00 zone.
