The post XRP Soared 126% After Garlinghouse-Trump Rumors, Will Larsen’s SEC Meeting Do the Same on May 2? appeared first on Coinpedia Fintech News
XRP made headlines in November 2024 when rumors spread about a possible meeting between Ripple CEO Brad Garlinghouse and President-elect Donald Trump. This speculation sent XRP soaring past $1 for the first time since November 2021.
Even though Garlinghouse officially met with Trump in January 2025, the excitement had already done its job. Between November 26 and December 3, XRP jumped a massive 126%, climbing from $1.28 to $2.91.
Another High-Profile Meeting on the Way
Now, there are speculations that Ripple’s Executive Chairman and co-founder Chris Larsen is set to meet with the new SEC Chair, Paul Atkins, on May 2, 2025. This upcoming meeting has caught the market’s attention, with many hoping it could bring positive news for XRP.
Investors are wondering — will this be the catalyst XRP needs to continue its rally, or will it fall short again?
XRP Testing a Crucial Price Level
At the same time, traders are watching XRP’s chart closely as May kicks off. According to popular market analyst Casitrades, XRP is struggling to stay above an important resistance level at $2.25.
After failing to hold above this price, XRP began forming smaller waves downward. It recently back-tested the $2.25 breakdown and might now be heading for another move down to $2.00.
Short Dip or Major Correction?
If XRP’s price drops with momentum, it could briefly hit $1.90 — a level that hasn’t been tested since its breakout. This zone also lines up with key technical support levels, which could act as a safety net.
However, on shorter timeframes, the Relative Strength Index (RSI) shows the market is exhausted, suggesting that any dip might be temporary before another bounce.
Despite these short-term price movements, the overall outlook for XRP remains positive. If XRP can flip the $2.25 level into support, traders are eyeing future targets at $2.68, $3.00, and beyond.