- US President Donald Trump shared a report from CoinDesk about XRP and Ripple via Truth social.
- The report talked about Ripple seeing a surge in local deals following Trump’s election.
- In the last six weeks of 2024, Ripple made more deals than in the previous six months.
United States President Donald Trump shared a news report from leading crypto outlet CoinDesk, detailing how Ripple Labs revived local business deals and hiring initiatives after he returned to the White House on January 20. Through this, XRP earned extra street cred by being linked with President Trump, a tag that gave its price action a boost.
Trump posted the report on his official Truth Social account, showing how Ripple Labs benefited from the Trump effect. The January report also revealed how Ripple CEO Brad Garlinghouse and his team struggled under the Biden administration.
XRP Price Trends and Analysis
In the final six weeks of 2024, after the US elections in November, Ripple secured more US deals than in the preceding six months, which was a clear turnaround. The company committed $5 million in XRP to support Trump’s inauguration, reflecting solid confidence in his administration’s crypto-friendly policies.
This change in sentiment, combined with expected regulatory support, could boost XRP adoption and the wider crypto market in 2025.
Related: Ripple CTO Challenges Bitcoin Supply Scarcity Claims in Heated Debate
As per CoinMarketCap data, the altcoin trades at $2.52, down 2.18% in the past 24 hours, facing resistance at the 20-day EMA, which stands at $2.62.
The Relative Strength Index (RSI) on the XRP daily chart registered 44.44, indicating that bulls were losing ground to bears. The line’s slope hinted at a possible retest of $2.5 soon, suggesting XRP was neither overbought nor oversold, which left room for price shifts.
Related: Altcoin Crash Deepens, But Analyst Says Crypto Market Set to Rebound Soon
The MACD indicator confirmed a bullish divergence recently. However, the MACD (blue) and signal (orange) lines now converged, raising the chance of a bearish divergence soon. Investors should stay cautious short term.
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