White House-Mediated XRP and Stablecoin Discussions
The White House-mediated meeting on stablecoin provisions in the market structure law between crypto and bank representatives was deemed “productive” but no agreement was reached. In the context of XRP detailed analysis, Ripple legal director Stuart Alderoty stated that the meeting passed in a conciliatory atmosphere and bipartisan momentum continues, expressing the need to accelerate the law. Congress aims to pass a law defining crypto regulations; the House approved the CLARITY Act in July but sufficient support could not be gathered in the Senate Banking Committee.
Stablecoin Yield Payments and Bank Conflict
Coinbase withdrew its support last month due to provisions banning yield payments tied to stablecoins. Bankers argue that stablecoin yield payments on third-party platforms like exchanges put bank deposits at risk. In the second meeting within two weeks, Blockchain Association official Dan Spuller stated that stablecoin rewards were the focal point and that banks brought prohibition principles. Three major bank groups emphasized the need for more discussion. BitGo CEO Mike Belshe suggested not re-discussing the GENIUS Act and separating stablecoin yields from the market structure law.
Source: Dan Spuller
XRP Technical Outlook and Goldman Sachs Effect
In parallel with recent news, Goldman Sachs’s $153 million XRP holding (alongside a total of 1.1 billion BTC, 1 billion ETH) is increasing institutional interest. XRP price 1.37 USD, 24h -3.66% down. RSI 32.28 (oversold), downtrend dominant. Supports: S1 1.3404 (strong, -1.53%), S2 1.2146. Resistances: R1 1.4635 (+7.52%), R2 1.6003. XRP futures should be monitored. EMA20: bearish signal below 1.5926.
- Trend: Bearish Supertrend
- Supports: S1 strong (75/100)
- Detailed TA
Source: https://en.coinotag.com/white-house-xrp-stablecoin-meeting-no-agreement
