Welcome to Extreme Investor Network, where we provide unique insights and analysis on the stock market, trading, and all things Wall Street. Today, we bring you exclusive information on Ripple, the US Presidential Election, and the SEC appeal, and how it could impact the future of XRP.
Recently, Ripple co-founder Chris Larsen made a significant statement regarding the upcoming election. He expressed his support for Kamala Harris and her potential impact on tech innovation, including crypto. Larsen even went as far as to donate $10M in XRP to show his support. This gesture signifies the growing importance of political figures in shaping the future of digital currencies.
Furthermore, Ripple CEO Brad Garlinghouse echoed Larsen’s sentiments by emphasizing the need for bipartisan support for pro-crypto policies. He stressed that championing policies that drive blockchain and crypto innovation should transcend party lines.
US Presidential Election and the SEC Appeal: What’s at Stake for XRP?
The outcome of the US Presidential Election has the potential to shape the future of Ripple and XRP. With Donald Trump vowing to fire SEC Chair Gary Gensler on day 1 in office, the SEC’s appeal against Ripple could be in jeopardy. If Trump wins and follows through on his promise, the SEC may drop the appeal before it reaches a critical stage.
Investors are closely monitoring the appellate timelines in the Ripple case, as the SEC must file its appeal-related opening brief by January 2025, with the possibility of an extension. While Kamala Harris has shown support for innovation and the digital space, many in the crypto community see Trump as a stronger advocate for the industry.
According to betting site Polymarket, the odds of Trump winning the election have been on the rise, despite national polls favoring Harris. Speculation about crypto whales placing bets on Trump adds another layer of uncertainty to the election outcome. Even Elon Musk has weighed in on the situation, highlighting the importance of betting markets in predicting results.
XRP Price Outlook: Impact of the SEC Appeal and the Presidential Election
As investors await the SEC’s next moves in the Ripple case, the US Presidential Election remains a key factor in XRP’s price outlook. A shift in polls or betting odds in favor of Trump could drive up demand for XRP, potentially pushing the price above key resistance levels. Conversely, a Harris win could lead to a downward trend in XRP’s price, with uncertainty surrounding the outcome of the appeals process.
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