Author: Yangz, Techub News
For XRP investors, yesterday's market was exciting.
In the morning, the US SEC submitted an opening statement of the appeal against Ripple, asking the appellate court to re-evaluate the ruling on securities laws. Although the Ripple team responded immediately, saying that "the appeal is a restatement of the failed argument and is likely not to be adopted by the next government", XRP still fell by about 6.5% in half an hour, falling below 3 USDT. Since then, XRP has been hovering between 3 USDT and 3.1 USDT.
Around 7 p.m., a report from the New York Post ignited the XRP market. The report said that the incoming president Trump was open to establishing an "America First" cryptocurrency reserve, and specifically mentioned SOL, USDC, and XRP. As a result, SOL rose to 217 USDT, up more than 8% in 2 hours, while XRP rose nearly 10% in 2 hours and hit 3.4 USDT in the early morning, setting a 7-year record high.
However, these two "diametrically opposed" pieces of news have also sparked speculation within the industry, with many investors viewing the New York Post report as a plot by the Ripple team.
Similar to the New York Post, the New York Times also published a report yesterday, saying that Ripple CEO Brad Garlinghouse encouraged Trump to include other cryptocurrencies besides Bitcoin in the federal government's potential cryptocurrency reserves during dinner with Trump at Mar-a-Lago. However, the media did not mention whether Trump "accepted" the idea.
In addition, an Axios report on Wednesday, citing people familiar with the Trump campaign team, mentioned Trump's rebuke of an unidentified company representative: "You made so much money last year, and now you will make more because of me... But where were you when I needed you? You were not with me, maybe you stood on the side of 'Harris'."
Although Axios did not name the company, two people familiar with the matter told Unchained that the conversation was with a representative of Ripple. This speculation is not groundless. During last year's election, while Ripple donated heavily to the cryptocurrency political action committee (PAC) Fairshake, its co-founder Chris Larsen did donate millions of dollars to Future Forward USA, a political action committee supporting Harris.
According to Unchained, after it published the "questioning" report, Susan Hendrick, senior communications director of Ripple Labs, denied the above "rumors" via email, but Hendrick did not specify whether Ripple was the source of the news that told the New York Post that Trump "accepted" XRP reserves, and whether the company in the Axios report was Ripple. In addition, the Trump-Vance transition team did not respond to requests for comment.
Whether this was a deliberate plot by the Ripple team or a true event is still unknown. But in my opinion, it is not necessary to investigate this issue. Putting aside the authenticity of whether Trump intends to build a "America First" cryptocurrency reserve, if Ripple did instigate the New York Post, it would be a resolute counterattack by the team against the "water ghost behavior" of the current US SEC before stepping down, and it is not uncommon for such teams to release favorable articles in the industry; and if XRP's breakthrough to a new high is not driven by the Ripple team's independent planning, this rise may also be realized after Trump officially takes office.
In fact, XRP has been rising steadily since Trump announced his victory. According to a recent report by Reuters, the new US SEC leadership team plans to promote cryptocurrency policy reforms immediately after Trump takes office. In view of various favorable regulatory news, investors have high expectations for Ripple to end its fight with the US SEC. Google Trends also shows that XRP's recent search popularity has surpassed Bitcoin worldwide.
From a macro perspective, it is only three days before Trump takes office. After his official inauguration, the overall market trend of cryptocurrencies has become the focus of the industry. On this topic, I would like to end with the views expressed by Chris Burniske, a partner of Placeholder, yesterday. Burniske said that we are likely to break the simple four-year cycle. With the support of the new generation of the US government, the return rate of cryptocurrency assets in the next few years may not show parabolic growth, but rather more stable growth. In addition, mainstream assets are unlikely to encounter extreme retracements of 85-95% again.
What do you think about the future market trend?
