XRP holds $1 as White House crypto summit convenes industry leaders

XRP held near $1.00 on Wednesday, up 0.02% in four hours, as traders positioned ahead of a White House crypto summit with President Donald Trump.

The meeting, scheduled for Wednesday (Aug. 19), brings together SEC Chairman Paul Atkins, CFTC Acting Chairman Michael Selig, and executives from Coinbase, Ripple, Gemini, Polymarket, Kalshi, Nasdaq, NYSE, CME Group and DTCC, according to a CoinDesk report citing sources briefed on the gathering.

XRP's Relative Strength Index stood at 47.03, with the MACD line at negative 0.0016 crossing above the signal line at negative 0.0022, producing a positive histogram of 0.0006 that suggests bearish momentum is fading. US spot XRP ETFs recorded $5.81 million in net inflows on Aug. 18, led by Bitwise at $2.24 million and Grayscale at $1.94 million, bringing total net assets to $941.41 million.

The White House meeting precedes the first CFTC Innovation Advisory Committee session on Thursday, where topics include "the remaining challenges to a durable federal market structure." The outcome could shape the Digital Asset Market Clarity Act, which the Senate pushed to September, leaving the SEC and CFTC to fill the regulatory gap through rulemaking.

Regulatory Crossroads

The gathering follows a stalled legislative push. Congress has again failed to complete work on digital-asset market-structure legislation, leaving the SEC and CFTC increasingly responsible for filling the regulatory gap. The SEC had planned a meeting last week to consider proposed exemptions for digital asset companies but cancelled it at the last minute due to a scheduling issue, postponing a potentially significant step in the agency's effort to build a new regulatory framework.

The White House and Trump have been bogged down in a debate over getting the Digital Asset Market Clarity Act passed in the Senate. The outcome of that bill could hinge on whether Trump will accept stricter ethics rules around his personal connections to the digital assets industry.

XRP remains above the $0.99 support level, but past resistance failed to generate significant upward action. Key obstacles sit at $1.03 and $1.05 on any potential rebound. A close above $1.05 would break the bearish chart pattern and establish a better picture for a more significant short-term rally. On the downside, a $0.99 decline could push the token back into the downtrend toward the $0.97 support level.

Meanwhile, US spot XRP ETFs saw $5.81 million in net inflows on Aug. 18 as investors resumed buying. Bitwise led with $2.24 million, with Grayscale contributing $1.94 million and Franklin adding $1.63 million. Total net assets stood at $941.41 million, accounting for 1.50% of XRP's market cap, with trading volume reaching $10.49 million during the session.

Bitcoin surged above $64,200 as it recovered from recent asset market weakness, with the broader crypto market watching the White House meeting for potential policy signals. The meeting's outcome could influence expectations surrounding regulation, market infrastructure, and federal oversight of digital assets across the United States.

This article is for informational purposes only and does not constitute investment advice.