Ripple (XRP) remains above the crucial $2 support level as market participants speculate on its potential surge. Despite recent fluctuations, the Ripple has retained investor interest. The possibility of Ripple CEO joining a crypto advisory board under a potential Trump administration has fueled optimism. Traders are now watching whether this development could push XRP  price toward the $5.5 mark.

Will XRP Price Skyrocket if Trump Brings Ripple CEO on Board?

The XRP price might surge significantly to $5.5 as reports suggest Donald Trump is considering Ripple CEO Brad Garlinghouse for a key advisory role. The former president’s newly established crypto council has attracted major industry leaders eager to shape the future of digital asset regulation.  

Trump recently brought together an executive order to establish a working group on digital asset markets to research digital assets and classify them. The council serves to affect regulatory choices that determine how the SEC or CFTC will oversee cryptocurrencies depending on their classification as securities or commodities. 

Garlinghouse’s potential appointment could significantly endorse Ripple’s technology and XRP. His influence might drive favorable policies, potentially boosting market confidence and investor sentiment around Ripple. Many crypto executives are reportedly vying for seats on the council, highlighting the growing significance of regulatory clarity in the industry.  

Notable figures reportedly considered include Coinbase CEO Brian Armstrong, Circle CEO Jeremy Allaire, and Crypto.com CEO Kris Marszalek. Industry experts believe the advisory council could reshape the U.S. government’s approach to digital assets, making it a pivotal development for crypto markets.  

Aubrey Strobel, a Bitcoin investor and crypto advisor, noted that many industry leaders are eager to join the council. The anticipation surrounding Trump’s crypto strategy has already sparked discussions, with investors closely watching for regulatory shifts that could impact the XRP price trajectory.  

Brad Garlinghouse is being considered for an advisory role on the White House Crypto Council

If confirmed, Garlinghouse’s advisory position will influence market dynamics and regulatory approaches and signal a significant endorsement of Ripple’s technology and XRP.

Source:… pic.twitter.com/kaZkkRiDxM

— Rowen Exchange (@RowenExchange) February 5, 2025

Can XRP Hit 5.5?

The value of XRP is at $2.29, with a decrease of 6% in the past 24-hours. This aligns with other crypto market corrections as BTC hovers around $97k.

XRP price shows potential volatility as it hovers around $2.32, navigating critical support and resistance levels. The Ripple indicates a consolidation phase, testing support near $1.90 while facing resistance at $2.90. 

The 50-day SMA, acting as dynamic support, could determine the next move. If the price holds above this level, bullish momentum might push top altcoin toward Fibonacci extension targets of $3.52, $4.52, and ultimately $5.52. 

However, failure to maintain support could lead to a downturn, with the 200-day SMA at $1.32 serving as a key level to watch.

XRP price Chart: TradingView

The potential formation of Trump’s crypto advisory board could reshape regulations and fuel investor sentiment across the market. If Brad Garlinghouse joins, it may strengthen XRP’s position. The XRP price targets remain crucial, with $5.5 achievable if bullish momentum sustains.

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Filed under: News - @ February 7, 2025 10:26 am