Behind the new high of XRP's price: Is the parent company Ripple orchestrating a scheme with the New York Post?

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12 hours ago

Author: Yangz, Techub News

For XRP investors, yesterday's market was nothing short of thrilling.

In the morning, the U.S. SEC submitted an opening statement for its appeal against Ripple, requesting the appellate court to reassess the ruling regarding securities law. Although the Ripple team promptly made a response, stating that "the appeal is a rehash of failed arguments and is unlikely to be adopted by the next administration," XRP still fell about 6.5% within half an hour, dropping below 3 USDT. After that, XRP hovered between 3 USDT and 3.1 USDT.

Behind XRP's New High: Is Ripple's Parent Company Orchestrating the New York Post's Scheme?

By around 7 PM, a report from the New York Post ignited the XRP market. The report stated that the incoming president Trump is open to establishing a "America First" cryptocurrency reserve, specifically mentioning SOL, USDC, and XRP. As a result, SOL surged to 217 USDT, rising over 8% in 2 hours, while XRP increased nearly 10% in the same timeframe, reaching 3.4 USDT in the early morning, setting a new historical high in 7 years.

However, such "contradictory" news has also sparked speculation within the industry, with many investors viewing the New York Post's report as a scheme orchestrated by the Ripple team.

Similar to the New York Post, the New York Times also published a related report yesterday, stating that Ripple CEO Brad Garlinghouse encouraged Trump during a dinner at Mar-a-Lago to include cryptocurrencies other than Bitcoin in the federal government's potential cryptocurrency reserve. However, the media did not mention whether Trump "accepted" this idea.

Additionally, an Axios report on Wednesday, citing insiders from Trump's campaign team, mentioned Trump's reprimand of a representative from an unidentified company: "You made so much money last year, and now because of me, you will make even more… but where were you when I needed you? You weren't with me, maybe you were standing with 'Harris'."

Although Axios did not name the company, two insiders revealed to Unchained that this conversation was with a representative from Ripple. This speculation is not unfounded; during last year's election, Ripple made significant donations to the cryptocurrency political action committee (PAC) Fairshake, while its co-founder Chris Larsen indeed donated millions to the political action committee Future Forward USA, which supports Harris.

According to Unchained, after releasing a "questioning" report, Ripple Labs' senior communications director Susan Hendrick denied the aforementioned "rumors" via email, but did not specify whether Ripple was the source that informed the New York Post about Trump "accepting" XRP reserves, nor whether the company mentioned in the Axios report was Ripple. Furthermore, the Trump-Vance transition team did not respond to requests for comment.

Whether this is a deliberate scheme by the Ripple team or if there is some truth to it remains unknown. However, in my view, the pursuit of this issue is not that necessary. Setting aside the authenticity of whether Trump intends to establish an "America First" cryptocurrency reserve, if Ripple indeed orchestrated the New York Post, it would be a strong counterattack against the current SEC's "ghosting" behavior before leaving office, and it is not uncommon for such teams to release favorable news in the industry; conversely, if XRP's new high was not driven by Ripple's own planning, this upward trend could also materialize after Trump officially takes office.

In fact, since Trump announced his victory, XRP has been steadily rising. According to a recent Reuters report, the new SEC leadership team plans to immediately advance cryptocurrency policy reforms after Trump takes office. Given various favorable regulatory news, investors have high expectations for Ripple to end its struggle with the SEC. Google Trends also shows that XRP's recent search popularity has surpassed that of Bitcoin globally.

Behind XRP's New High: Is Ripple's Parent Company Orchestrating the New York Post's Scheme?

From a macro perspective, with only 3 days until Trump takes office, the overall market trend for cryptocurrencies has become a focal point in the industry. On this topic, I would like to conclude with the viewpoint expressed by Placeholder partner Chris Burniske yesterday. Burniske stated that we are likely to break the simple four-year cycle. With the support of the new generation of government in the U.S., the returns on cryptocurrency assets in the coming years may not exhibit parabolic growth but rather trend towards stable growth. Additionally, mainstream assets are unlikely to experience extreme drawdowns of 85-95% again.

What are your thoughts on the upcoming market trends?

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