News Feb 07, 2025 13:13 UTC Speculation about Garlinghouse joining Trump’s crypto council fuels bullish sentiment for XRP aiming to hit $5.5.An XRP ETF approval could attract institutional investors and boost Ripple’s market influence.Regulatory clarity and political support could drive XRP to new all-time highs.Ripple CEO Brad Garlinghouse is reportedly being considered for a key role in former President Donald Trump’s U.S. Crypto Advisory Council. This news has sparked excitement in the crypto community, with many wondering if it could push XRP’s price as high as $5.5.The advisory council, created by executive order during Trump’s first week back in office, is expected to play a major role in shaping U.S. cryptocurrency regulations. If Garlinghouse joins, it could influence policies that impact Ripple and XRP’s future.Adding to the bullish sentiment, the possibility of a spot XRP ETF approval is gaining attention. Leading financial firms like Bitwise, WisdomTree, and Grayscale have already filed applications. If approved, these ETFs could bring institutional investors into the XRP market, increasing demand and potentially driving prices higher.Reports suggest Garlinghouse has advocated for the inclusion of XRP—alongside Bitcoin—in the U.S. strategic reserves. If this happens, it could further establish XRP’s importance in the financial system.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.XRP is currently trading around $2.42, showing a slight rise in the past 24 hours, in line with broader market movements. The token is in a consolidation phase, holding support at $2 while facing resistance at $2.90.A key factor to watch is whether XRP can stay above its 50-day SMA. If it does, the price could gain momentum, targeting Fibonacci levels at $3.52, $4.52, and possibly $5.5. However, if support breaks, XRP could decline, with the 200-day SMA at $1.32 acting as a crucial level.With Garlinghouse potentially taking on a regulatory role, XRP ETF filings in progress, and growing institutional use of Ripple’s technology, XRP’s future looks promising. Whether these factors will push XRP past $5.5 remains to be seen, but market excitement is building. Show More
Ven. Feb 7th, 2025
