With an impressive growth of 8.9%, Ripple’s XRP has outperformed almost all the top ten cryptocurrencies. Experts believe that rumours related to XRP’s potential inclusion in the proposed US crypto reserve have helped the asset achieve such massive growth. Meanwhile, a report, without directly naming Ripple, reveals that Trump is unhappy with the way Ripple behaved during the crucial stage of his election campaign. Let’s dive deeper for more details!
Trump’s Allegations Against Ripple
According to the report published in Axios, during a conversation with representatives of a company, US President-elect Donald Trump expressed unhappiness about the financial support it had given to the Kamala Harris team.
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 campaign.
Rumours of a US Crypto Reserve Featuring XRP
It was a story published in the New York Post that triggered discussions about the possible inclusion of Ripple’s XRP in the proposed crypto reserve. When asked whether they have any role in spreading rumours regarding XRP’s probable entry into the reserve, the company denied any role in planting the story.
XRP’s Record Price Surge
In the last five days alone, the XRP market has seen a growth of around 32.48%. At the start of this month, the price was at $2.0841. Since then, it has surged by around 59.17%. Yesterday, the market touched a seven-year peak of $3.40. Right now, it stands at $3.3204.
Experts think that retail investors and whale transactions played a key role in the surge witnessed in the XRP market lately.
Rising Onchain Activity for XRP
Reports highlight that the number of daily active wallets holding XRP increased from 10,000 to 100,000 in the previous year. Reports also emphasise that liquidity on the XRPL DEX quadrupled. What the data reveals is: increased market engagement.
In conclusion, Trump’s criticism of Ripple and the ensuing market frenzy around XRP highlight the delicate intersection of politics, crypto and market sentiment.
