Is XRP About to Hit $5? Traders Bet Big on Ripple’s White House Adventure! 💰🚀

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Well now, gather ’round, folks! It seems that Ripple (XRP) has taken a mighty leap to $2.70 on this fine Thursday, a staggering 19% jump in just 24 hours! Why, you ask? Well, it appears the investors are all a-twitter over some U.S. trade tariff updates and the upcoming White House Crypto Summit on March 7. With XRP bulls strutting their stuff in the derivatives markets, those long positions are totin’ a hefty $150 million, hinting at more upside than a cat on a hot tin roof! 🐱‍👤

Ripple (XRP) Outperforms Bitcoin and Ethereum Ahead of White House Crypto Summit

Now, XRP did hit a bit of a wall at the $3 mark after Trump decided to announce a strategic crypto reserve back in March. But lo and behold, the winds of change from the U.S. trade policies have stirred up a bullish sentiment that could send XRP soaring past that pesky $3 resistance!

The latest market data shows a veritable stampede of buyers, pushing XRP beyond $2.70 as investors scramble to make their last-minute trades before the big summit. Talk about a rush! 🏃‍♂️💨

Ripple CEO Confirms Attendance at White House Crypto Summit

And wouldn’t you know it, Ripple’s very own CEO, Brad Garlinghouse, has confirmed he’ll be attending the White House Crypto Summit. This just goes to show how cozy Ripple is getting with the Trump administration’s digital asset policies. Ain’t that a sight to see?

” I’ve had some new confirmations for Friday’s White House Crypto Summit. As of this morning, invites were still rolling out.”

  • FOX report Eleanor Terret confirmed Ripple CEO Brad Garlinghouse’s attendance at the White House Crypto Summit, in a March 6 post on X.

The summit, led by Trump’s AI and Crypto Czar, David Sacks, will host some big names, including Coinbase CEO Brian Armstrong and MicroStrategy’s Michael Saylor. They’ll be jawing about regulatory frameworks and a proposed U.S. crypto reserve. Sounds like a hoedown! 🎉

With Ripple’s price already up 19% on Thursday, it’s outshining Bitcoin’s measly 4% dip. This just goes to show the optimism investors have about the summit’s potential to boost Ripple’s institutional adoption. Analysts are whispering that a breakout beyond $3 could be on the horizon if the policy discussions favor digital assets. Hold onto your hats! 🎩

What is the White House Crypto Summit, and How Could It Be Bullish for XRP?

The White House Crypto Summit is a pivotal gathering where the bigwigs of the industry and policymakers will hash out the future of cryptocurrency regulations in the good ol’ U.S. of A. Topics on the table include the establishment of a national crypto reserve and clearer guidelines for institutional adoption. Sounds like a real barn burner!

For XRP, this summit could be the golden ticket to reshape market sentiment. If Ripple gets some regulatory clarity or finds its way into that proposed reserve, we might just see XRP riding a bullish wave straight to $5! 🌊

According to the latest from Coinglass, most XRP short-term traders are betting on a positive outcome from the summit. The chart above shows XRP long leverage has crossed the $150 million mark, towering over the active short contracts at $115 million. With long leverage outpacing short by more than 20%, the short-term momentum is looking as bright as a new penny! 💵

But hold your horses! If the Non-Farm Payrolls report throws a wrench in the works, XRP could face a swift correction if those over-leveraged bulls get liquidated. Yikes!

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2025-03-07 03:36