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US President Donald Trump Shares XRP-Related Article on Truth Social, Stoking Excitement and Speculation
On Tuesday, US President Donald Trump shared an article related to XRP on social media platform Truth Social, generating excitement and speculation among the XRP community.
The Article
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.
Reactions to the Post
The post generated 6.3K likes and 268 replies, with 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.
Impact on XRP Token
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.
SEC and DOGE Developments
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.
XRP ETF Potential
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.
Conclusion
In conclusion, the post by US President Donald Trump on Truth Social has generated significant interest and speculation in the XRP community, with some speculating that the token could become the currency that underpins a potential U.S. crypto reserve. While the post itself did not have a significant impact on the token’s price, the increased trading volume and market activity suggest that the event has generated significant interest and attention.
FAQs
Q: What is the significance of the post by US President Donald Trump on Truth Social?
A: The post generated significant interest and speculation in the XRP community, with some speculating that XRP could become the currency that underpins a potential U.S. crypto reserve.
Q: What is the current price of XRP?
A: As of the time of writing, the price of XRP is $2.53.
Q: What is the current trading volume of XRP?
A: As of the time of writing, the trading volume of XRP is $5.5 billion, with a 26% increase in 24 hours.
Q: What are the implications of the DOGE and SEC developments for Ripple?
A: The developments could end in a positive result for Ripple, as they are facing an appeal from the SEC in relation to an alleged unregistered securities offering in 2020.
Q: What is the expectation for the XRP ETF?
A: There is 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.
