XRP Price Forecast: Ripple CEO Criticizes Wall Street Influence as XRP Faces Recovery Challenges
XRP has shown signs of recovery after a weekend rebound following a crash, instilling confidence among investors. However, digital assets like Ripple are still striving for equal recognition compared to traditional assets despite their establishment.
Ripple CEO Brad Garlinghouse recently criticized Wall Street banking lobbyists at DC Fintech Week for hindering crypto firms from integrating into the US banking system. He argued that regulated digital asset companies adhering to AML and KYC standards should be allowed access to a Fed master account, emphasizing the unjust opposition faced from Wall Street lobbyists.
Although Ripple’s battle against the SEC had previously kept XRP in a bearish state for an extended period, the cryptocurrency has shown resilience post its breakout in November 2024. XRP has managed to maintain stability above the $2 support level, but it is yet to reclaim its previous highs, indicating a gradual recovery period.
As liquidity returns to the crypto market, emerging projects such as the layer-2 initiative Bitcoin Hyper have been gaining significant traction. The HYPER presale witnessed a remarkable surge, raising $23.8 million and sparking enthusiasm within the altcoin sector.
Brad Garlinghouse underscores the necessity for equal treatment within the crypto sector, pointing out the unfair practices of Wall Street banking lobbyists who obstruct the entry of crypto firms into the banking system. Garlinghouse remarked on the hypocrisy of major financial institutions lobbying against charter approvals to safeguard their dominance in the industry.
Ripple, along with its subsidiary Standard Custody & Trust Company, has applied for a Fed master account to directly hold RLUSD reserves with the Fed. However, despite these efforts, crypto firms like Ripple face challenges in obtaining Fed access or clarifications on the procedural requirements.
Investors have observed XRP’s price action with anticipation, with the cryptocurrency experiencing a sharp drop on Friday followed by a rebound above $2.3. XRP has recorded a gain of over 10% in the last two sessions, approaching the $2.6-$2.7 resistance zone. However, the previous support level has now transformed into a resistance barrier, causing price rejection.
Technical indicators present a mixed outlook, with the RSI hovering around the oversold territory at 30, indicating a potential bounce-back. Conversely, the MACD histogram maintains a bearish trend. While established tokens like XRP navigate their recovery, traders are exploring new projects that exhibit strong fundamentals, leading to increased interest in Bitcoin Hyper, positioned among the prominent cryptocurrencies priced below $1 in 2025.
