👀 Possible scenario:
XRP briefly spiked to $2.35 between July 7–8 amid a surge in trading volume exceeding 182 million tokens, before settling around $2.24 with a slight daily dip of 0.3%. The price action comes ahead of Ripple CEO Brad Garlinghouse’s testimony before the U.S. Senate Banking Committee on July 9, during a hearing titled “From Wall Street to Web3.” He is expected to advocate for clearer crypto regulations, including support for the CLARITY Act, which could help define XRP's legal status.
The hearing follows Ripple’s recent move to withdraw its cross-appeal in the ongoing SEC lawsuit, after a judge ruled that secondary XRP sales were not securities. A $125 million penalty remains, and both sides have filed to reduce it. The Senate hearing also kicks off “Crypto Week” in Congress starting July 14, where bills on stablecoins, digital asset market structure, and CBDCs will be debated. If passed, the CLARITY bill could benefit Ripple by placing XRP under CFTC oversight.
✅Support and Resistance Levels
Support level is now located at 2.1550
Now, the resistance level is located at 2.3560.
XRP briefly spiked to $2.35 between July 7–8 amid a surge in trading volume exceeding 182 million tokens, before settling around $2.24 with a slight daily dip of 0.3%. The price action comes ahead of Ripple CEO Brad Garlinghouse’s testimony before the U.S. Senate Banking Committee on July 9, during a hearing titled “From Wall Street to Web3.” He is expected to advocate for clearer crypto regulations, including support for the CLARITY Act, which could help define XRP's legal status.
The hearing follows Ripple’s recent move to withdraw its cross-appeal in the ongoing SEC lawsuit, after a judge ruled that secondary XRP sales were not securities. A $125 million penalty remains, and both sides have filed to reduce it. The Senate hearing also kicks off “Crypto Week” in Congress starting July 14, where bills on stablecoins, digital asset market structure, and CBDCs will be debated. If passed, the CLARITY bill could benefit Ripple by placing XRP under CFTC oversight.
✅Support and Resistance Levels
Support level is now located at 2.1550
Now, the resistance level is located at 2.3560.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.