Ripple CEO Brad Garlinghouse has raised concerns over a canceled meeting with U.S. Senator Cynthia Lummis, a known supporter of Bitcoin. The canceled engagement and refusal to reschedule have drawn attention as Garlinghouse visits Washington, D.C., to advocate for a balanced and inclusive approach to digital asset regulation. Brad Garlinghouse Criticizes Lummis for Meeting Cancellation Ripple CEO Brad Garlinghouse, while on a trip to Washington, D.C., shared that Senator Cynthia Lummis cancelled a scheduled meeting and has not agreed to reschedule it. In a post on X, Garlinghouse expressed disappointment in the decision. “I hope you will reconsider and be a leader for ALL of crypto,” Brad Garlinghouse wrote in his statement. He also extended an invitation to the Senator to join him for a public discussion on X Spaces or a live event. Brad Garlinghouse emphasized the need for leaders to support all blockchain networks, not just Bitcoin pointing… Read More at Coingape.com
Ripple (XRP) price rebounded to $2.59 Tuesday, fueled by $5.5B open interest and SEC Chair, Paul Atkins signalling softer crypto regulation.
Paul Atkins Signals Softer Crypto Regulation, XRP Traders React Positively
Ripple (XRP) gained 1.5% Tuesday to trade near $2.47 after hitting intra-day highs of $2.59, marking a rebound from Monday’s decline. The dip followed a suspension of the US GENIUS act, under congressional scrutiny of potential conflicts of interest involving Ripple-affiliated entities and Donald Trump’s crypto reserve executive order.
Concerns had centered around Dubai-based USD1’s explosive $2 billion valuation, in which Trump-linked investors allegedly held undisclosed stakes.
Ripple’s lobbying ties to the executive order had cast further uncertainty over XRP’s regulatory status, just days after it secured a $50 million final settlement in it long-running case against the US SEC.
Ripple (XRP) Price Action, May 13, 2025 | Source: Coingecko
However, Tuesday’s speech by SEC Chair Paul Atkins, appointed under Trump, sparked a positive shift in market sentiment.
Atkins emphasized a “collaborative, innovation-forward” approach to crypto regulation, suggesting a lighter compliance burden for compliant firms. Traders responded with renewed optimism, driving XRP’s recovery from a $2.35 low.
The signal of softer regulatory stance from the Trump’s newly appointed SEC chair, helped restore confidence among retail and institutional holders alike.
XRP Open Interest Hits $5.5 Billion, Bolstering Bullish Thesis
According to Coinglass data, XRP’s open interest surged 2.7% to $5.49 billion Tuesday, signaling traders are re-entering leveraged positions in anticipation of upward price action.
The increase aligns closely with the spot price rebound, reinforcing the view that capital is rotating back into XRP.
Despite a 43.76% drop in daily derivatives volume to $10.71 billion, the rise in open interest suggests fresh capital inflows despite replacing recent liquidations.
Notably, Binance’s top trader long/short ratio hit 3.00, while the broader long/short ratio (accounts) on OKX reached 2.13, both strongly favouring longs.
Options volume also declined 51.15% to just $2,220, and options open interest dropped 4.45% to under $1 million, perpetual and futures markets remain highly active.
Traders are clearly rotating out of shorter-dated, hedged plays and into more directional long bets.
Across major exchanges like Binance and OKX, long/short ratios among both average and top traders consistently exceed 2.0, a rare alignment that signals shared directional confidence in upside expectations.
What’s Next?
If open interest continues rising alongside positive regulatory messaging, XRP could retest $2.70 near-term resistance. Expectations of softer regulations under Paul Atkins and ETF altcoin verdicts expected in June, could propel a run toward $3.00.
XRP Price Forecast Today: Eyes on $2.70 as Momentum Builds Above Key Averages
XRP continues to demonstrate a strong technical setup as bullish sentiment strengthens above key moving averages and volatility bands.
Currently trading at $2.5664, XRP has broken above all three simple moving averages (SMA 50 at $2.2359, SMA 100 at $2.2320, and SMA 150 at $2.1709), a structure that signals a clear bullish shift in trend direction.
XRP Price Forecast Today
More so, Ripple price is currently holding comfortably above the midline of the Keltner Channel (KC) at $2.3614 and is approaching the upper band at $2.5718, suggesting a breakout continuation may be imminent.
The bullish body candles forming above the KC midline reinforce upward momentum, supported by a rising BBP (Bollinger Band %B) indicator, which currently reads 0.2885.
Based on these key indicators, XRP price forecast today points to a short-term target of $2.70, contingent on the ability to close decisively above the KC upper band resistance.
However, should XRP fail to sustain above $2.57, a temporary retracement toward the 50-SMA near $2.23 cannot be ruled out.
XRP’s price has declined significantly over the past week. The token currently trades at a seven-day low of $2.09, and key indicators suggest that the downtrend may continue in the near term.
Market data shows a steady rise in the demand for short positions. This trend reveals growing trader confidence in further downside movement, with short sellers increasing their exposure in anticipation of the XRP token’s continued weakness.
XRP Faces Prolonged Sell Pressure
XRP’s long/short ratio reflects the bearish bias dominating its futures market. At press time, the ratio stands at 0.98, indicating more traders are betting against the altcoin.
This ratio compares the number of long and short positions in a market. When an asset’s long/short ratio is above 1, there are more long than short positions, indicating that traders are predominantly betting on a price increase.
Conversely, as seen with XRP, a ratio below one indicates that most traders are positioning for a price drop. This reflects heightened bearish sentiment and growing expectations of continued downside movements.
According to Coinglass, XRP last recorded a long/short ratio above one on April 22. This means it has been over two weeks since bullish positions outnumbered bearish ones in the XRP futures market. The extended period of bearish dominance suggests that market participants have grown increasingly pessimistic about XRP’s short-term prospects.
On the daily chart, the newly formed “death cross” by XRP’s Moving Average Convergence Divergence (MACD) indicator supports this bearish outlook. Readings from the XRP/USD one-day chart have revealed that XRP’s MACD line (blue) closed below its signal line (orange) on Monday, forming a death cross.
This pattern is a notable marker of a sustained downtrend and is widely viewed by traders as a sign of weakening price strength. Hence, XRP risks plummeting further.
XRP Holds Key Support at $2.09 — But for How Long?
XRP currently trades at $2.10, resting above the support formed at $2.03. If selloffs strengthen, the support floor could weaken, making way for a price decline toward $1.61.
