XRP advances as Ripple CEO urges clear rules and says US crypto users will stay beyond midterms

• XRP trades near $1.32 on Thursday. Its recovery has now continued for a third consecutive day.
• Calling on the new Congress to establish clear rules, Ripple CEO Brad Garlinghouse says “pro-crypto members won on both sides of the aisle” in the US midterm elections.
• Following last week’s drop to $1.20, XRP is trading close to the 100-day EMA as buyers seek to re-establish control of the trend.

Ripple (XRP) trades near $1.32 on Thursday. The remittance token has edged higher, recovering roughly 10% from last week’s $1.20 low. That rebound suggests the path of least resistance is gradually shifting to the upside.

Failure to reclaim these support levels could nevertheless constrain XRP’s rebound, with structural obstacles still in place. Institutional interest also remains subdued following the Binance hack, which fuelled concerns over the security of funds held on centralised crypto exchanges.

Brad Garlinghouse calls for regulatory clarity from Congress

January is set to bring Democratic Party control of both the United States (US) House and Senate following its stronger showing against the Republicans in the midterm elections. NBC News reported that Democrats flipped seven Senate seats: Iowa, Kansas, Maine, North Carolina, Ohio, South Carolina and Texas.

A projected 259 seats would put Democrats above the 218 required for a majority in the House of Representatives. Their broad electoral gains were driven in part by economic concerns against a backdrop of high oil and energy prices.

The crypto industry’s response has been broadly positive. Despite Republicans falling to a distant minority in Congress, figures including Ripple CEO Brad Garlinghouse anticipate business as usual. In a post on X, Garlinghouse said that “pro-crypto members won on both sides of the aisle,” and noted that the US’s approximately 67 million crypto users are not going anywhere. In his view, a new Congress does not change the mission: establishing clear regulations.

Also expressing optimism is James E. Thorne, Chief Market Strategist at WellingtonAltus. He is among the industry figures who believe the Democratic Party’s victory will not delay the regulation the US crypto market needs.

In a post on X, Thorne said: “Republicans lost the House and Senate, but crypto keeps moving. The GENIUS Act is already law, and stablecoin rules are being implemented. The CLARITY Act stalled, yet the Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) are still writing the framework for tokenization and digital commodities,” adding, “Democrats can slow new legislation, but they cannot reverse the agency actions already underway.”

Technical analysis: XRP seeks a bullish reversal

At around $1.32, XRP remains constrained beneath several technical barriers. These include the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), at $1.34, $1.32 and $1.36, respectively, alongside SuperTrend resistance near $1.40.

A positive Moving Average Convergence Divergence (MACD) reading and a Relative Strength Index (RSI) just above 50 signal a slight improvement in momentum. With the pair still below these daily resistance layers, however, the indicators point to stabilisation rather than a decisive bullish reversal.

The first upside barrier is the 100-day EMA around $1.32. Beyond it sit the 50-day EMA at $1.34 and the 200-day EMA near $1.36. Around $1.40, the SuperTrend line adds to a broader supply zone ahead of the more distant descending trendline near $1.66. The key downside support is around $1.27, the area where price broke through the former resistance trendline. A sustained hold there would be necessary to avert a deeper retreat and preserve the early attempt to form a base.

(The technical analysis of this story was written with the help of an AI tool. Know more.)