Ripple‘s CEO, Brad Garlinghouse, shared positive news with the XRP community following President-elect Donald Trump’s announcement of Scott Bessent as his Treasury Secretary choice. This decision has stirred optimism within both Garlinghouse and the broader crypto community regarding the ongoing SEC case involving XRP.
Who is Scott Bessent?
Donald Trump disclosed his nomination of Scott Bessent, a prominent hedge fund manager and founder of Key Square Group, for the Treasury Secretary position. Bessent is well-known for his strategic financial maneuvers, notably his short position against the British pound in 1992 alongside George Soros.
Will XRP Prices Continue to Rise?
In the wake of Bessent’s appointment, XRP’s value surged past $1.60, with trading volume increasing by 22% and a weekly gain exceeding 60%. Market sentiment suggests XRP could potentially reach $2, according to projections from financial experts.
The enthusiasm extends beyond Garlinghouse, with notable figures in crypto, such as Cardano’s Charles Hoskinson, expressing optimism. XRP attorney John Deaton also emphasized the importance of selecting the right SEC Chair as the nation embraces digital innovations.
- Bessent’s nomination is seen as a boost for crypto policies.
- XRP’s price momentum signals market confidence.
- Clear fiscal policies from the new administration are anticipated.
The crypto market reacted favorably to Bessent’s nomination, raising hopes for XRP’s prospects. Stakeholders are keenly watching how this appointment will influence the SEC’s direction in relation to the cryptocurrency sector.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
