Highlights:
- Ripple CEO’s D.C. meeting cancelled as XRP community questions bias.
- XRP trades at $2.41; analysts eye breakout past $3.10 toward $10 target.
- Will Cole’s anti-XRP stance fuels debate over policy influence and fairness.
In this week’s most pressing XRP crypto news, Ripple CEO Brad Garlinghouse’s visit to Washington, D.C. took an unexpected turn. Efforts to make crypto regulations clearer quickly turned into a main source of political disagreements.
On the other hand, XRP supporters started arguing for a price rise to $10, as frustration over what they see as artificial market blocks increased.
XRP Crypto News: Ripple CEO’s Senate Meeting Cancelled
Garlinghouse went to D.C. to discuss regulations for crypto assets, mostly about stablecoins and market systems. Meetings were set with Senator Cynthia Lummis, who leads the Senate Digital Assets Subcommittee. However, the meeting had to be called off suddenly and couldn’t be rescheduled later.
Garlinghouse pointed out that Ripple has attempted to reach out to Lummis for nearly six years. With Wyoming’s status as a crypto-friendly state and her stature in the industry, he believed her comments would be more team-oriented.
He invited her to attend a meeting in public to debate X and defend the importance of balanced regulations.
Many in the crypto industry share in the frustration he highlighted. A lot of people think that Bitcoin is getting priority in policy talks while other projects like XRP are not being considered.
Community Flags Political Bias, Questions Senator’s Motives
After the meeting was canceled, members of the XRP community voiced their concerns. A supporter of XRP, Cowboy Crypto, noted that Senator Lummis’ son-in-law, Will Cole, reposted a message making fun of Garlinghouse right after the announcement. Cole is the Head of Product at Zaprite, a Bitcoin payments company supported by Lightning Ventures.
Cole’s history of anti-XRP views is well documented. He claimed Ripple is a scam and that it took money from retail investors and put it in the hands of its insiders instead. After the FTX collapse in 2022, Cole referred to Ripple as a centralized failure. He said its issues extended beyond classifying it as a security.
Senator Lummis revealed she owns between $50,000 and $100,000 worth of Bitcoin. Apart from Bitcoin, she does not have any digital investments, and her daughter supports Bitcoin. Even though it’s not confirmed, some people claim it is evidence of lobbying bias in crypto policy.
Ripple’s advocates believe that new laws should not favor people related to certain assets.
Ripple’s Mission and Wyoming’s Divided Crypto Legacy
Ripple adopted registration in Wyoming in 2020, a state famous for being open to new blockchain regulations. Even though Caitlin Long, the founder of Custodia Bank, was satisfied, major backlash from Bitcoin maximalists emerged soon afterward. Some investors suggested that Long should be “canceled” because he publicly backed Ripple.
Cole responded by doubling down. He noted that all discussions about Ripple should include a disclaimer about Ripple’s past behavior. He claimed that Ripple had created more problems than it solved and led regulators to view crypto less positively.
Ripple’s CEO emphasized that the company will still push for the development of the U.S. crypto sector. He encouraged lawmakers to ensure that all projects are judged equally, regardless of who is involved in lobbying or tribal matters.
XRP Price May Soon Hit a $10 High
With growing political tension, XRP community members are refocusing on price. According to a chart shared by analyst Moriarty, a four-year accumulation pattern is almost ready to break out. The upward trend was shown by regularly passing $3.00 in the chart and reliable support near $0.80.
In the latest XRP crypto news, the top altcoin currently trades at $2.41. Moriarty claimed that the next vital step is taking back $3.10. If Ripple price breaks through at that level, it could jump to $5 rapidly. If the main market rises and resistance is passed, $10 is possible this time around.
Moriarty claimed the market has been underestimating XRP for far too long. The legal status, developing infrastructure, and compliance with regulations, according to him, support a multi-dollar value for the altcoin.