The price of XRP has surpassed $1, a significant milestone that has not been observed since December 2021. The cryptocurrency’s market capitalization increased by $20 billion to approximately $64 billion on November 17, when it reached $1.23. This surge has incited a frenzy of discourse within the cryptocurrency community; however, it is not solely the price that is garnering attention.
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The Pot Is Being Stirred By Rumors Of A Meeting With Trump
Most of the conjecture about XRP’s surge stems from unsubstantiated accounts that Ripple CEO Brad Garlinghouse met with President-elect Donald Trump. Though neither Garlinghouse nor Trump’s staff have confirmed or refuted the meeting, the rumors have spurred discussions across the sector.
Brad Garlinghouse is shilling XRP and CBDC implementations. I am shilling American dynamism, and smart appointments that will solidify Trump’s legacy. We are not the same. https://t.co/AwpR8FBJgU
— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) November 16, 2024
Some, such as former Messari CEO Ryan Selkis, have also gone public with the strongest term on record criticizing Ripple for the possibility of dictating US policy. Pierre Rochard of Riot Platforms and others have expressed skepticism about the anti-Bitcoin posture of Ripple and how it could be damaging for the future regarding crypto regulation.
We can’t let Ripple co-opt the United States policymaking process with their anti-bitcoin agenda.
Hopefully Trump will staff his Administration with more bitcoiners! https://t.co/TiXxAMRF7h
— Pierre Rochard (@BitcoinPierre) November 16, 2024
Garlinghouse has expressed confidence in the potential beneficial effects of the Trump administration on the cryptocurrency sector, despite the controversy. Garlinghouse suggested in a recent appearance on Fox Business that Trump perceives the crypto industry as a potential source of innovation and entrepreneurship.
🚨BREAKING: CEO of @Ripple – Brad Garlinghouse on FOX NEWS!
Donald Trump had a meeting with Ripple. 👀
💥 #XRP WILL MELT FACES 💥 pic.twitter.com/qp6CMbRTdY
— JackTheRippler ©️ (@RippleXrpie) November 15, 2024
His remarks, which center on the activities of SEC Chairman Gary Gensler, are perceived as directly addressing the regulatory obstacles presently affecting Ripple. This has strengthened the belief that, should government change,…
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