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- Ripple CEO Brad Garlinghouse met with former President Donald Trump amid Ripple’s ongoing legal battle with the SEC.
- XRP surged 96% since November 5, outpacing major cryptocurrencies like Bitcoin and Ethereum, boosting investor confidence.
- Speculation suggests the meeting discussed XRP’s economic potential or its role in addressing U.S. regulatory challenges.
Ripple CEO Brad Garlinghouse recently met with former President Donald Trump, sparking widespread speculation in the cryptocurrency community. This unexpected development comes as Ripple continues to challenge the U.S. Securities and Exchange Commission’s appeal of a court ruling that XRP, Ripple’s token, is not a security. The meeting has fueled discussions about its potential impact on Ripple’s legal strategy and the broader cryptocurrency landscape.
JUST IN: 🇺🇸 DONALD TRUMP & RIPPLE CEO MEETING CONFIRMED ON FOX BUSINESS!
— Good Morning Crypto (@AbsGMCrypto) November 15, 2024
"$XRP is one of the best performance off the news that @bgarlinghouse met with President Donald Trump."
What do you believe Ripple CEO discussed with Donald Trump during their White House meeting? 🤔💭… pic.twitter.com/T81BrPQUji
Ripple Faces Regulatory Pressure Under Biden Administration
Notably, Ripple has faced significant challenges during the Biden administration, with the SEC lawsuit being a major hurdle. The legal battle began when the SEC alleged that XRP was an unregistered security.
More so, a recent ruling favored Ripple, declaring that XRP is not a security when sold on secondary markets. However, the SEC has appealed this decision, prolonging the legal uncertainty surrounding Ripple and its operations.
Consequently, the meeting between Garlinghouse and Trump has gained attention as many believe it could influence Ripple’s ongoing legal strategy. Observers suggest that Garlinghouse may have discussed the regulatory challenges faced by Ripple under the current administration. This interaction has raised questions about whether Trump’s influence could reshape Ripple’s standing or approach in the regulatory landscape.
Speculation Over the Meeting’s Agenda
Moreover, while the specifics of the meeting remain undisclosed, many in the crypto community are offering their interpretations. Some speculate that the conversation centered on the potential economic benefits of XRP. Others believe that Garlinghouse may have sought to explore ways XRP could support the U.S. economy by addressing challenges like national debt.
In addition, a few enthusiasts have proposed a more ambitious idea, that the meeting could signal Trump’s interest in establishing a national reserve based on XRP. This concept aligns with earlier rumors about Trump considering a Bitcoin reserve. While these ideas remain unverified, they highlight the growing interest in the role of cryptocurrencies in national economic strategies.
They discussed the shit storm that XRP has went through because of Gary Gensler and his cronies over a nice supper. After supper they possibly went to a movie together and watched “Rigged, exposing the SEC’s war on crypto” ? ….that would have been a hot date night!
— Craig Hopf (@CraigHopf46982) November 15, 2024
XRP Gains Momentum Amid Speculation
Amid this political intrigue, XRP’s market performance has been remarkable. Over the past week, XRP surged by 88.6% significantly outpacing other major cryptocurrencies like Bitcoin, Ethereum, and Solana. This rise has boosted investor confidence and highlighted growing interest in XRP futures.
Since November 5, XRP’s value has climbed by over 96%, signaling robust market optimism despite regulatory challenges. Analysts attribute this momentum to the speculation surrounding the meeting and the positive sentiment generated by Ripple’s partial legal victory.