With an impressive 8.9% growth, Ripple’s XRP has surpassed almost all of the top 10 cryptocurrencies. Experts believe that rumors surrounding the possible inclusion of XRP in the proposed U.S. cryptocurrency reserves have helped the asset achieve massive growth. Meanwhile, a report that doesn’t directly mention Ripple by name shows that Trump is dissatisfied with the way Ripple has behaved during a critical phase of his election campaign. Let’s dive deeper to find out more!
Trump’s claims about Ripple
According to a report published in Axios, US President-elect Donald Trump expressed dissatisfaction with the financial support provided to Kamala Harris’ team during a conversation with company representatives.
Ripple co-founder Chris Larsen donated at least $10 million to a political action committee supporting Democratic candidate Kamala Harris during the US presidential election.
Rumors of US cryptocurrency reserves featuring XRP
It was a story published in the New York Post that sparked discussion about the possibility of including Ripple’s XRP in the proposed cryptocurrency reserve. When asked whether it had any role in spreading rumors about XRP’s possible entry into reserves, the company denied any role in planting the story.
XRP’s record price surge
Over the past five days, the XRP market has grown by approximately 32.48%. At the beginning of this month, the price was $2.0841. Afterwards, it soared about 59.17%. Yesterday the market hit a seven-year high of $3.40. The current price is $3.3204.
Experts believe that individual investors and whale trading played a key role in the recent surge in the XRP market.
Increased on-chain activity for XRP
According to the report, the number of daily active wallets holding XRP increased to 100,000 from 10,000 the previous year. The report also highlights that liquidity on the XRPL DEX has quadrupled. What the data shows is increased market participation.
In conclusion, Trump’s criticism of Ripple and the resulting market frenzy surrounding XRP highlight the delicate intersection of politics, cryptocurrencies, and market sentiment.