Ripple Dismisses “Bad Blood” Rumors with US President-Elect, XRP Price Surges 31%

The cryptocurrency market has been abuzz with rumors of a rift between Ripple, the blockchain company behind XRP, and US President-elect Donald Trump. However, Ripple’s Chief Legal Officer (CLO) Stuart Alderoty has come out to dispel these speculations, calling them “pure fiction.” This development has led to a surge in XRP’s price, with the asset gaining 31% in the last seven days to trade at $0.31.

Ripple’s Denial of “Bad Blood” Rumors

The rumors of a feud between Ripple and Trump were sparked by an Axios report that claimed Trump had criticized an unknown company for abandoning him to support Kamala Harris during the presidential campaign. Although the report did not mention Ripple by name, some individuals speculated that the company was the target of Trump’s criticism. This speculation was fueled by the fact that Ripple co-founder and chairman Chris Larsen had donated almost $9.9 million to Future Forward and transferred more than $800,000 to the Harris Victory Fund.

However, Alderoty has categorically denied these rumors, stating that they are “completely made up” by some news outlets. This denial has helped to alleviate concerns among XRP investors and has contributed to the asset’s recent price surge.

XRP Price Surge and Potential for Further Growth

XRP’s price surge has been impressive, with the asset gaining 31% in the last seven days. This has led to a significant increase in its market capitalization, which now stands at $178 billion, making it the third-largest cryptocurrency behind Ethereum (ETH). The asset’s 24-hour trading volume has also been significant, with $13 billion changing hands.

Analysts are optimistic about XRP’s potential for further growth, with some predicting that the asset could hit $8 in the current cycle. One analyst, CRYPTOWZRD, has pointed out that XRP’s current price action mirrors the 2017 movement, where a similar formation led to a massive surge. According to him, XRP has turned a crucial resistance level into support, which could lead to a significant price increase.

Ripple’s Ties with the US Administration

Ripple’s ties with the US administration are also expected to play a significant role in XRP’s price movement. The company’s boss, Brad Garlinghouse, recently had dinner with Trump, which has helped to build excitement around XRP in 2025. Additionally, the appointment of Paul Atkins to lead the US Securities and Exchange Commission (SEC) is expected to facilitate the approval of the much-anticipated spot XRP Exchange Traded Fund (ETF).

Overall, Ripple’s denial of “bad blood” rumors with the US President-elect has helped to alleviate concerns among XRP investors and has contributed to the asset’s recent price surge. With the company’s ties with the US administration and the potential for further growth, XRP is definitely an asset to watch in the cryptocurrency market.

Source: Crypto-news-flash.com

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