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The meeting underscores the growing recognition of XRP as a key player in the crypto space. Garlinghouse's efforts, combined with similar strategic connections by other industry leaders like Coinbase CEO Brian Armstrong, highlight a concerted push to advance crypto adoption at the highest levels of government.

In a previous Fox Business interview, Garlinghouse emphasized the transformative potential of the crypto market under the new administration. He noted a positive shift in U.S. government attitudes, fostering a more favorable environment for cryptocurrencies.

The year 2024 ends with Bitcoin smashing its all-time high of $107,000, while altcoins like Ethereum, Solana, and XRP are trading in the green. This rally is fueled by optimism surrounding lower interest rate cuts in December and MicroStrategy’s inclusion in the Nasdaq 100 index, which has bolstered investor confidence.
Crypto ETFs on the Horizon
According to Bloomberg’s Eric Balchunas, Bitcoin-Ethereum combo ETFs are expected to debut soon, followed by altcoins like Hedera (HBAR). However, Solana (SOL) and XRP ETFs may face delays due to ongoing legal battles with the SEC. Analysts predict

Ether (ETH) is displaying promising “structural changes,” leading many analysts to predict a retest of its all-time high (ATH) of $4,878, achieved in November 2021. Bankless podcast host Ryan Adams suggested in a Dec. 9 X post that a new ATH could happen within a week. To reach this milestone, Ether would need a 24% gain from its current price of $3,946, as per CoinMarketCap.
ETF Flows Drive Bullish Sentiment
Pseudonymous trader Pentoshi pointed out that Ether has recorded its “highest weekly close of the year,” driven by the beginning of consistent ETF flows. In his Dec. 9 X post to 830,90

According to the report, the Ethereum Foundation manages a treasury of $970.2 million, with a significant 81.3% of these assets held in cryptocurrency. Notably, 99.45% of EF’s crypto reserves are stored in Ether (ETH), positioning EF as one of the most prominent Ether holders, managing around 0.26% of its circulating supply. Additionally, $181.5 million of EF's reserves are invested in non-crypto assets.
Over the past two years, EF has allocated approximately $240 million from its reserves. These funds have supported essential Ethereum developments, including Layer One research and backing f

The spike in large SHIB transactions comes as the token's price forms a symmetrical triangle pattern. This technical pattern typically precedes a breakout in either direction as volatility tightens. The closer the price moves toward the tip of the triangle, the more trading volume tends to shrink, signaling that a major move could be on the horizon.
While the symmetrical triangle doesn’t favor a specific direction, the uptick in large transactions could indicate bullish sentiment. However, caution is still advised, as breakouts can occur in either direction, depending on market momentum and

Ripple has already secured a stay order for its penalty payment, indicating that both parties are preparing for an extended battle. While Ripple’s leadership remains confident, pro-XRP lawyer Fred Rispoli believes an appeal is highly likely. If Ripple wins the appeal, the SEC may be forced to return the penalty along with interest, adding another twist to the case.
With an appeal deadline approaching in October 2024, the legal outcome could have far-reaching effects on XRP and the broader cryptocurrency market. For now, XRP shows price volatility but retains positive market sentiment.
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