What to expect from Ripple CEO ’60 Minutes’ – Will XRP hit $3?

Ripple CEO Brad Garlinghouse is set to appear on CBS’s renowned “60 Minutes” program on Sunday, December 8. The episode is expected to highlight Ripple’s ongoing efforts to secure regulatory clarity in the United States crypto market.

Through a post on his X account, Garlinghouse announced he will be attending the interview, which will be posted later on CBS’s website. The discussion will most likely highlight the implications of Ripple’s win against the U.S. Securities and Exchange Commission (SEC), which the crypto community views as a significant development for the broader industry.

Ripple’s legal battle with the SEC drew criticism toward SEC Chair Gary Gensler. Industry leaders, including Solana co-founder Anatoly Yakovenko, have described the SEC’s approach as restrictive and detrimental to crypto innovation. Crypto enthusiasts expect these concerns to feature prominently during the interview.

The XRP vs. SEC case began in December 2020, when the U.S. Securities and Exchange Commission sued Ripple Labs, alleging that XRP was sold as an unregistered security. The SEC claimed Ripple raised $1.3 billion through illegal securities offerings, while Ripple argued XRP is a crypto, not a security. 

XRP price could rally after Garlinghouse interview

Several analysts predict the Ripple CEO’s upcoming interview will re-ignite XRP’s price rally, taking the coin past $3. Among the optimistic bunch in the crypto community is trader Justin Bennet, who shared the token’s price chart on X with the caption, “XRP looks ready for $3+.”

XRP has been trading within a narrow range in recent days, consolidating after a sharp decline from its recent high of $2.85. The drop, which marked a seven-year peak, saw bears take control and push the price down to retest the $2.10 level. 

Ripple’s native token closed Friday at the $2.41 level, a 30% increase over the last seven days. It experienced an 8.05% rally, reversing a three-day losing streak and closing at $2.4286. 

This pullback is attributed to profit-taking, reflected by the XRP Network Realized Profit and Loss indicator. Investors have reportedly booked gains exceeding $5.86 billion since December 1.

Despite the pullback, market proponents remain optimistic about a renewed bullish rally. Many analysts believe XRP’s consolidation phase in the $2 range may soon end, potentially setting the stage for a significant upward move.  

Crypto analyst Altstreet Bet expressed confidence in a rebound, describing XRP as “going at it again” in reference to a chart suggesting an impending breakout. The analyst predicts that a large wave could propel XRP back toward the $3 range following four days of consolidation.

Crypto price chart expert MichaelXBT shared a similar perspective, noting that XRP is currently retesting a broken channel as support. 

Posting a TradingView chart on his X account, he stated that the token’s next upward move could be imminent, reinforcing expectations for another rally. 

Whale activity and outflows echo bullish market sentiments

According to crypto market activity aggregator Santiment, whale investors, those holding tokens between 1 million to 10 million XRP, increased their holdings by 260 million over the week. Whale activity has also reached a five-year high in recent days, with weekly active XRP addresses also hitting 495,000, a sixteen-month high.

Notably, the Age Consumed metric, which tracks the movement of older, previously dormant coins, remained low, suggesting whales are accumulating rather than selling. Santiment statistics show that approximately $288 million worth of XRP has been transferred to private wallets since the start of December.  

The migration of XRP to private wallets can be interpreted as a sign that investors are employing long-term holding strategies. Withdrawals from exchanges typically suggest a reduced likelihood of tokens being sold in the near term.  

Meanwhile, XRP’s overall market participation has seen a significant decline. Trading volumes dropped by 25% over the past day, reflecting traders’ cautious approach. Holders appear to be adopting a wait-and-see stance, particularly to see if the coin will breach the $3 mark.  

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