Ripple News Today: Ripple CEO to Testify Before Senate as XRP Price Braces for Volatility Ahead

As the company looks to move past its years-long legal standoff with the SEC, the hearing could serve as a springboard for renewed momentum in crypto policymaking—while potentially injecting volatility into the XRP market.

Brad Garlinghouse, CEO of Ripple Labs, is set to testify before the U.S. Senate Banking Committee on Wednesday, July 9, in a pivotal moment for the crypto industry’s regulatory future. His appearance is part of a high-profile hearing titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets,” which aims to address the lack of structured regulation for cryptocurrencies like XRP.

Ripple CEO Brad Garlinghouse emphasized that his Senate testimony aims to represent the 55 million diverse American crypto users who deserve regulatory clarity. Source: Brad Garlinghouse via X

“I am honored to be invited to testify… on the need for passing crypto market structure legislation,” Garlinghouse said in a recent statement. “Constructive legislation is essential to usher in innovation while protecting consumers.”

His testimony will coincide with major shifts in U.S. digital asset legislation, including the recent Senate approval of the GENIUS Act, which seeks to provide clear regulatory guardrails for stablecoins. The House is also gearing up for “Crypto Week,” where several industry-related bills will be debated—further underscoring a shift toward bipartisan support for clearer crypto frameworks.

Garlinghouse’s Senate testimony arrives just weeks after Ripple and the U.S. Securities and Exchange Commission (SEC) made headlines again. Judge Analisa Torres reaffirmed her 2023 ruling that XRP is not a security when sold to the public, rejecting a proposed settlement between Ripple and the SEC. Shortly after, Ripple announced its intention to withdraw its cross-appeal, potentially closing a chapter on the nearly five-year Ripple vs. SEC lawsuit.

This legal pivot is seen as a turning point for Ripple. Garlinghouse remarked, “Ripple was the tip of the spear of this regulatory-by-enforcement campaign… After four years of a hard-fought legal battle, we prevailed.”

The implications of this development stretch beyond Ripple. The outcome could pave the way for broader acceptance of XRP ETFs, especially if the SEC votes to withdraw its own appeal against the Programmatic Sales ruling. A decision may come as soon as Thursday, July 10, during a closed-door SEC meeting.

As of July 8, XRP price surged by 1.74% to $2.31, outperforming the wider crypto market, which rose 0.93%. The XRP crypto price prediction now hinges on two key catalysts: the SEC’s appeal decision and growing momentum for multi-crypto ETFs.

XRP was trading at around $2.30, up 1.97% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

Ripple’s partial victory against the SEC has already strengthened XRP predictions among investors. With the Grayscale Digital Large Cap Fund (GDLC) now approved to convert into an ETF—featuring XRP among its holdings—analysts are eyeing the next phase: a dedicated XRP-spot ETF.

Additionally, Truth Social, the media arm of U.S. President Donald Trump, has filed for its own Crypto Blue Chip ETF, which will include XRP alongside Bitcoin and Ethereum. These ETF initiatives could unlock significant institutional demand for XRP coin, lifting its long-term valuation prospects.

Technical analysis shows XRP eyeing a breakout above the critical resistance near $2.35 as the price is firmly holding the $2.30 support. If that resistance is cleared, the next major targets include the May high of $2.6553, followed by the psychological $3 mark, and potentially the 2025 peak of $3.39.

However, downside risks remain. A drop below the 50-day EMA could bring bears back into play, with possible retests of the $2.2 support zone and the 200-day EMA. Still, optimism around a favorable SEC decision and the upcoming Senate testimony may help XRP maintain bullish momentum.

The upcoming hearing is not merely a soapbox for Ripple’s CEO. It’s a sign that lawmakers are beginning to understand how vital regulatory clarity is for digital assets. Garlinghouse will be joined by other high-profile industry leaders, including Blockchain Association CEO Summer Mersinger, Chainalysis CEO Jonathan Levin, and Paradigm’s Dan Robinson.

Ripple CEO Brad Garlinghouse urged the Senate to pass key crypto bills to ensure market clarity and support innovation. Source: @_Chainscope via X

Mersinger’s written testimony emphasized the necessity for urgency: “The question before us is not whether to regulate this industry, but how… We can either go down a path of uncertainty or pass practical, bipartisan legislation.”

With over 55 million Americans who now own crypto, the political stakes are rising. Ripple’s place at the table for these policy discussions—after years of legal uncertainty—positions it at the forefront of shaping how digital asset regulation will be formed in the U.S.

As Brad Garlinghouse prepares to address U.S. lawmakers, the broader market is watching closely. His testimony could influence how Ripple, XRP, and the crypto sector at large are treated under U.S. law moving forward. Meanwhile, XRP price predictions remain bullish amid hopes for ETF approvals and a permanent resolution to the Ripple SEC case.

With volatility expected ahead, all eyes are on Capitol Hill this week. The ripple effect—both regulatory and market-based—could be just beginning.