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Donald Trump Shares CoinDesk's XRP Article on Truth Social, Spurring Bullish Sentiment
Trading volume for XRP is up by 26% to $5.5 billion in the past 24 hours.
What to know:
- Trump posted an article about XRP's increase in U.S. deals on the Truth Social platform.
- XRP remained muted after the post, although trading volume is up by 26% to $5.5 billion in the past 24 hours.
- The post comes after bullish sentiment around XRP linked to a potential ETF approval.
U.S. president Donald Trump shared an XRP-related article on social media platform Truth Social on Tuesday, stoking excitement and speculation among the XRP community.
The article, published by CoinDesk in January, revealed how Ripple CEO Brad Garlinghouse experienced an uptick in U.S. deals and hiring efforts following Trump's election victory in November.
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The post generated 6.3K likes and 268 replies, the majority of which uttered phrases like "XRP to the moon" and discussed how XRP should become the currency that underpins a potential U.S. crypto reserve.
The XRP token remained fairly muted at $2.53 after the post, although trading volume is up by 26% in 24 hours to $5.5 billion, according to CoinMarketCap.
The post comes as the Elon Musk-led Department of Government Efficiency (DOGE) put the Securities and Exchange Commission (SEC) in its crosshairs on Monday — which could end in a positive result for Ripple as it is facing an appeal from the regulator in relation to an alleged unregistered securities offering in 2020.
There is also an expectation that an XRP exchanged traded fund (ETF) will be approved this year after the SEC acknowledged a filing by the New York Stock Exchange and Grayscale last week.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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Ce qu'il:
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