XRP Price Up as Ripple and Other Crypto Firms to Meet Senate

The XRP price has surged 6% in the last 24 hours to trade at $2.46 on a 58.51% increase in its daily trading volume to $4.07 billion.

That price rise comes as Ripple, together with Coinbase and other major crypto companies, prepares to meet with US Senate Democrats to discuss clearer regulation and the pending approvals of crypto exchange-traded funds (ETFs).

According to a recent report, the closed-door session aims to help lawmakers understand how clearer policy can support innovation while protecting investors. The meeting comes at a crucial time for the industry as regulators weigh spot crypto ETF approvals following earlier approvals of Bitcoin and Ethereum futures-based products.

XRP Price Demand Grows As Investors Anticipate Policy Shift

XRP’s on-chain metrics show that demand for the crypto is strengthening despite short-term volatility. On-chain data indicates a steady rise in wallet activity and accumulation over the last few weeks, suggesting that long-term holders are adding to their positions rather than selling into rallies.

XRP Active Addresses Source: CryptoQuant

Large wallet addresses, often considered “smart money,” have been moving XRP off exchanges and into private wallets. This pattern reduces the available supply on trading platforms, a bullish sign that suggests investors expect higher prices in the future.

Network transaction volumes have also improved modestly since early October. Developers continue to expand Ripple’s blockchain capabilities through partnerships focusing on tokenized assets and stablecoin projects. 

Confidence is also supported by XRP’s inclusion in multiple ETF discussions. Although no spot XRP ETF exists yet, any indication that such a product might be considered could drive renewed market enthusiasm, similar to the rallies seen when Ethereum and Solana ETF news first emerged.

XRP Price Holds Key Support Ahead Of Senate Meeting

On the technical front, XRP remains stable above key support levels. The crypto is currently trading near $2.47, just below the 50-day Simple Moving Average (SMA) at $2.82, and slightly under the 200-day SMA at $2.59.

Those two averages have recently converged, creating a tight trading zone that often precedes a strong directional move. The 200-day line at $2.59 acts as immediate resistance, while the $2.30–$2.40 region offers near-term support.

Looking at the price structure, XRP recently rebounded from a sharp dip that briefly tested the $1.50 zone, which aligns with the 0.618 Fibonacci retracement near $1.64. The recovery from that area shows that buyers stepped in aggressively to defend long-term trend support.

XRPUSDT Analysis Source: Tradingview

XRP broke out of a large falling wedge pattern, visible since December 2024, around July and soared as high as $3.66 in August. Since then, the coin has cooled off but remains well above its previous breakout zone. As long as the wedge support and 200-SMA continue to hold, the bullish structure remains intact.

XRP Eyes Rebound As Indicators Signal Fading Bearish Momentum

The Relative Strength Index (RSI) currently reads 41.69, suggesting that XRP is neither overbought nor oversold. This neutral level leaves room for a rebound if buying pressure increases after the Senate meeting.

The MACD (12, 26) line stands at –0.0179, just above the signal line at –0.1245, hinting that bearish momentum is fading. A confirmed bullish crossover could attract fresh buyers targeting the $2.80–$3.00 zone.

Meanwhile, the Average Directional Index (ADX) at 45.78 indicates that the current trend strength is high. If XRP breaks above $2.60 with substantial volume, this indicator suggests that momentum could quickly accelerate toward the next significant resistance near $3.48.

Should the rally extend beyond that, a retest of $3.66, which is the August high, becomes likely. Above that, technical projections point to $4.29 and $5.32 as longer-term Fibonacci targets, representing potential gains of 70%–110% from current levels.

On the downside, if the price fails to hold above $2.30, XRP may revisit $2.00 or even $1.64, where strong historical support remains. However, the presence of both moving averages near current price levels gives the price a cushion against deeper pullbacks.

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