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Trump’s Memecoin Launch Sparks Impact on XRP Lawsuit  

Donald Trump CFN
  • Trump’s TRUMP meme-coin launch raises questions about its influence on the XRP lawsuit amid ongoing regulatory challenges. 
  • Ripple’s lawyer emphasizes how Trump’s token highlights the need for clear crypto regulations, especially as XRP gains significant momentum. 
  • XRP sees a 31% weekly surge, aligning with Trump’s re-election and anticipated regulatory changes under his administration. 

Donald Trump’s launch of the TRUMP meme-coin has introduced new discussions about its potential impact on Ripple’s ongoing legal battle with the SEC. The token, which attracted significant attention after its $8 billion valuation within hours, has stirred debates among legal and crypto experts. 

Ripple Lawyer Links Memecoin to XRP Case 

Ripple attorney Bill Morgan recently analyzed how Trump’s involvement with the TRUMP memecoin could influence the XRP lawsuit. He suggested that the former president’s promotion of a speculative token underscores the necessity for transparent regulations within the cryptocurrency sector. According to Morgan, the situation is unprecedented, especially as Trump assumes office while endorsing a volatile digital asset. 

Morgan noted in an X post, “Hard to see how the SEC v. Ripple appeal continues when the soon-to-be-inaugurated President issues and promotes his speculative meme-coin.” His comments highlight growing concerns about regulatory inconsistencies as influential figures, like Trump, venture into crypto. 

Regulatory Optimism Grows in XRP Community

XRP investors have been holding on for the resolution of the four-year legal battle between Ripple and the SEC. The extolling of crypto by Trump apart from the chances of seeing crypto-friendly faces appointed in strategic positions has brought positive sentiments. Such is particularly in focus given the SEC Chair, Gary Gensler, moved out of duty with Paul Atkins reportedly to take his position. 

However, expectations of the change in regulation have been boosted by Trump’s support of cryptocurrencies. But this was thought to have soured when Trump and Ripple, the company’s Chief Legal Officer had differences that were rumored to have led to the pulling out of Trump’s investment from the company. 

XRP seems to have benefited from Trump’s re-election and the hype around Trump’s memecoin. The token rallied 31% weekly, breaking the $3 per token range for the first time since 2018. XRP is currently trading at $3.17, reflecting increased investor confidence amidst regulatory hopes. 

As Trump prepares to take office, the combination of his crypto policies and the TRUMP token’s rapid rise has fueled speculation about potential resolutions in the XRP lawsuit. The developments highlight the ongoing interplay between regulatory uncertainty and market trends in the cryptocurrency space. 

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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