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American conservative business news outlet FOX Business confirms that Ripple CEO Brad Garlinghouse had a meeting with U.S. President-Elect Donald Trump.
The business news channel confirmed the development yesterday during an interview with Garlinghouse. Recall that Garlinghouse liked an X post from Zach Rector, suggesting he met with Trump after the election.
Although the Ripple CEO did not specifically confirm the meeting in a statement, his engagement with the post gave XRP enthusiasts the indication that he met with Trump.
FOX Business Confirms the Meeting
During an interview with Garlinghouse, FOX Business anchorwoman Liz Claman raised the matter, asking the Ripple CEO to confirm whether the reported meeting with the U.S. President-Elect had taken place.
Responding, Garlinghouse jokingly said he would not like to “comment on too many specifics.” Interestingly, Liz emphasized that she would consider Garlinghouse’s response a “yes.”
XRP Skyrockets After Meeting Rumors
Meanwhile, rumors of Garlinghouse meeting with Trump after the presidential election had a tremendous impact on the price of XRP, which exploded above the $0.9 mark yesterday.
This surge follows speculations that the longstanding lawsuit between the SEC and Ripple might be ending soon. The lawsuit has negatively impacted XRP’s performance since it was introduced on December 22, 2020.
Since the lawsuit, XRP has missed major rallies, including the 2021 bull run. While several XRP enthusiasts believed the legal tussle would finally be settled after U.S. District Judge Analisa Torres issued the final judgment in August, the SEC appealed the ruling two months later.
The regulator hoped to overturn the parts of the ruling it lost to Ripple at the Second Circuit, potentially extending the timeframe for a resolution. This appeal wreaked havoc on XRP’s price, which crashed below the $0.52 mark.
However, XRP skyrocketed above $0.9 amid reports of a meeting between Garlinghouse and Trump, as well as SEC Chair Gary Gensler hinting at a possible exit from the commission.
At press time, XRP is trading at $0.9680, marking a 24-hour increase of 20.13% and a weekly surge of 75.73%. Furthermore, XRP’s daily volume has exploded 4.3% to $11.4 billion. Its market cap currently stands at $54.68 billion, trailing Dogecoin’s $55.23 valuation by just $550 million.