Should You Buy The XRP Dip After CEO Brad Garlinghouse Interview on 60 Minutes?

60 Minutes crypto spotlight shines a light on Brad Garlinhouse after major XRP price gains in recent weeks, but should you buy XRP?

The cryptocurrency industry made a huge splash in the recent U.S. elections, notably the Ripple (XRP) Foundation, albeit for the losing side in Democrat candidate Kamala Harris. That didn’t stop XRP from rocketing 339.70% over the last month. Things ain’t fair when you lobby the losing side and still win.

Meanwhile, all the TA nerds on X have been saying XRP would explode this past weekend, but nothing has happened. What gives?

It turns out the YouTube and Twitter grifters don’t know Jack. Who would have thought?

Love it or hate it, the #XRP explosion will begin unexpectedly. 💥🚀 pic.twitter.com/4GBCI0YD1q

— Amonyx (@amonbuy) December 8, 2024

With over $144 million funneled into super PACs, crypto-focused companies are ready to reap the rewards they have sown with a Trump presidency.

This strategic funding helped put pro-crypto lawmakers in positions of power, potentially paving the way for favorable regulations and a more robust foothold for digital currency in the national conversation.

XRP’s Role in Shaping Trump’s November Win at the US Presidential Election

One of the most notable examples of crypto influence was the intense Senate race in Ohio. Republican Bernie Moreno, backed by crypto-heavy funding, secured a decisive win against Democrat Sherrod Brown, an outspoken crypto critic and chair of the Senate Banking Committee.

A super PAC largely funded by Ripple and other cryptocurrency firms spent $40 million on ads supporting Moreno—impacting the closing months of a heated contest.

In a recent episode of 60 Minutes, Ripple CEO Brad Garlinghouse openly discussed the industry’s strategy, emphasizing how this financial backing swayed elections in key states.

“Do I think putting that amount of money in the Ohio election had an impact? Absolutely. We educated voters, as many industries do, about candidates.” — Brad Garlinghouse

(Source)

The results were staggering. Of the 62 candidates supported by crypto contributions (29 Republicans and 33 Democrats), an impressive 85% emerged victorious.

This success signals a turning point for the industry as cryptocurrencies receive growing acceptance from Washington.

XRP Price Faces Market Headwinds: But Breakout Could Be Mega

Even as the political tide seems to turn pro-crypto, XRP price Price Trading volume in 24h Last 7d price movement chart is anything but optimistic. Ripple’s token clings to a cycle of sharp swings, and the technical data suggests the challenges are far from over.

Support for XRP sits at $136 billion, aligning with lower Bollinger Band levels and previous price action lows. $138 billion, near the 20-day Simple Moving Average, acting as an immediate ceiling.

Several metrics suggest caution for XRP investors moving forward:

• Bollinger Bands: Widening bands indicate increased market turbulence, with XRP trading at the lower band, signaling bearish pressure.
• Moving Averages: The 20-day SMA recently crossed below the 200-day SMA, forming a death cross—a clear bearish signal for the token.
• MACD: The MACD chart resides in negative territory, with the signal line positioned above the MACD line, reflecting continued downward momentum.

A head-and-shoulders pattern has emerged on the charts, a classic bearish signal that hints at further downside risks. 99Bitcoins analysts caution traders to keep a close eye on the $136 billion support level.

Will XRP Spark A New Era for Crypto Regulation?

The success of cryptocurrency funding in the elections and the market’s growing challenges highlight a transitional moment for the industry. President-elect Donald Trump, once skeptical of Bitcoin, has fully embraced digital currencies.

Key appointments, including Paul Atkins as SEC chair, reinforce his administration’s pro-crypto pivot. Atkins, known for his more hands-off regulatory style, is expected to take a more collaborative stance with the crypto industry.

“Crypto is about freedom, and the crypto economy is here to stay,” Atkins recently stated.

If Trump gets his way (which is more likely since he has the House and Senate), we’ll see Bitcoin (BTC) hit $200K before Trump’s inauguration. We’re talking about the greatest bull run for crypto, okay? The best.

People on the outside will look in, scratching their heads, wondering, ‘What’s the big deal?’ But we—smart, very smart hodlers—oh, we’re going to be jumping up and down, having a fantastic time. Tremendous. They won’t believe it, but we’ll be winning so much, you might even get tired of winning.

DISCOVER: The Best Altcoins to Stack Ahead of Mega 2025

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Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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