Welcome to Extreme Investor Network, where we provide unique insights and valuable information on all things related to the stock market, trading, and Wall Street. Today, we dive into the recent endorsement of Kamala Harris by Ripple co-founder Chris Larsen and its impact on the crypto community.
Larsen’s endorsement of Harris elicited mixed reactions within the crypto community. While pro-crypto lawyer Bill Morgan emphasized the principle of democracy and individual opinions, a poll revealed that 92% of the crypto community disagreed with the endorsement. One potential implication of a Harris victory is the likelihood of SEC Chair Gary Gensler retaining his position until the end of his term.
Amidst these political developments, XRP price trends are also under scrutiny due to speculation about an SEC appeal in the Ripple case. Pro-crypto lawyer Fred Rispoli believes there is a 60/40 chance of an appeal being filed. The outcome of this appeal could significantly impact XRP’s price movements. If the SEC decides to appeal, XRP may see a dip below $0.40. On the other hand, if no appeal is filed, XRP could potentially surge towards $1.00, following a similar pattern seen in the market’s response to the Programmatic Sales of XRP ruling.
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