- Ripple CLO has dispelled rumours suggesting the existence of “bad blood” between US president-elect Donald Trump and Ripple.
- An analyst has pointed out that XRP is imitating the 2017 cycle when it turned a crucial psychological level into support, claims the asset could hit $8.
Ripple has dismissed speculations of “bad blood” between the blockchain company and the US president-elect Donald Trump. According to reports, these rumours were triggered by an Axios report which disclosed that Trump criticized an unknown company. The report also highlights that this company abandoned Trump to support Kamala Harris during the presidential campaign.
Despite the report omitting the name of the said company, some individuals believe that it was referring to Ripple. Researching into this, CNF discovered that these rumours might have been based on the support of Ripple co-founder and chairman Chris Larsen for Kamala Harris.
In an October report, CNBC reported that Larsen had donated almost $9.9 million to Future Forward. Additionally, he transferred more than $800,000 to the Harris Victory Fund. A CNF report also confirmed that Larsen contributed more than $11.8 million to PACs to support Harris’ campaign.
Responding to the ongoing rumours, Ripple Chief Legal Officer (CLO) Stuart Alderoty branded the claims as “pure fiction”. According to him, these are unverified statements “completely made up” by some news outlets.
Ripple Chief Lawyer just denied the fake $XRP FUD. Trump is clearly pro-Ripple and XRP. Please spread the word to help fight the FUD pic.twitter.com/0uwuKBwtjC
— XRPcryptowolf (@XRPcryptowolf) January 16, 2025
Ripple Boss Meeting With Trump; XRP to Hit $8
Against the backdrop of these, Ripple boss Brad Garlinghous had dinner with Trump, building excitement around XRP in 2025 and invalidating the rumours, per a CNF report.
XRP is also expected to benefit greatly from the upcoming administration as Paul Atkins has been appointed to lead the US Securities and Exchange Commission (SEC), as earlier mentioned in a CNF coverage. According to analysts, his administration could facilitate the approval of the much-anticipated spot XRP Exchange Traded Fund (ETF).
Currently, the price of XRP is strongly reacting to the presidential inauguration, as it surged by 31% in the last seven days to trade at $0.31. This has “dragged” its market cap to $178 billion to become the third largest crypto, just behind Ethereum (ETH). Meanwhile, its 24-hour trading volume has declined by 44.6% as $13 billion changes hands.
Commenting on this, an analyst identified as EGRAG CRYPTO highlighted that the asset’s potential to hit $3.75 would depend on its ability to hold the upper boundary. Also, he pointed out that the current position is similar to the $0.75 recorded in 2024. At that time, the asset was rejected three times before surpassing it.
Similarly, analyst CRYPTOWZRD has pointed out that the asset has turned a crucial resistance level into support. According to him, its current price action mirrors the 2017 movement where a similar formation led to a massive surge. Per his observation, XRP could likely hit $4 and later reach the $8 level in this cycle.
