Ripple’s up rally sustained by market speculation and possible shifts in SEC management.
Key Takeaways
- XRP rose to over $1 amidst reports of a Trump and Ripple CEO conference.
- Leadership modifications at the SEC might effect continuous cases versus Ripple Labs.
Ripple’s XRP token has skyrocketed above $1—its greatest level consideringthat November 2021—amid growing speculation surrounding a possible conference inbetween president-elect Donald Trump and Ripple CEO Brad Garlinghouse.
Data from CoinGecko reveals that XRP taped an 89% gain over the past week, trading at $1.09 at the time of composing. The dive brings XRP back into the leading 6 crypto possessions by market capitalization, surpassing Dogecoin.
XRP likewise outshined the wider crypto market with a 22% boost over 24 hours, while Bitcoin and Ethereum revealed modest gains.
Did Ripple CEO satisfy Trump?
Rumors of Garlinghouse having a conference with Trump emerged after the CEO of Ripple liked a post by Zach Rector that discussed the conference. Although Garlinghouse did not clearly verify the conference, his engagement in the post was translated as an recommendation of the claim.
Confirmed ✅ #XRP pic.twitter.com/krpLrgrR2c
— Zach Rector (@ZachRector7) November 12, 2024
Garlinghouse’s current discussion with FOX Business likewise provides reliability to speculation.
During an interview with FOX Business theotherday, when asked about the hypothesized conference with Trump, Garlinghouse jokingly prevented supplying specifics, which led the anchor to translate his reaction as verification.
The conference reports come at a time when Trump is placing himself for a return to power, and there are hopes amongst crypto financiers that his administration would be more beneficial t