- Ripple debunks Trump rumors, calling allegations fabricated amid XRP’s 7-year price high.
- XRP reaches $3.40, with strong momentum as bulls dominate and RSI signals overbought conditions.
- Ripple warns of rising misinformation targeting XRP as its market cap nears Ethereum’s position
Rumors of President-elect Donald Trump allegedly rebuking Ripple during his campaign gained traction today, coinciding with XRP’s surge to a 7-year high. Separately, the New York Post reported Trump is considering adding Bitcoin and U.S.-issued cryptocurrencies to the national reserve.
However, a report by Unchained, authored by Sage D. Young and Veronica Irwin, dismissed the claims as baseless, citing three unnamed sources.
In a now-deleted X post, DEGEN News was spreading news on how Trump rebuked Ripple for withholding support during his campaign.
Ripple’s Response to Allegations
The entire incident was termed pure fiction by Ripple’s chief legal officer, Stuart Alderoty.
John Deaton, a staunch Ripple supporter and partner at Deaton Law Firm, warned of such false claims becoming more rampant as XRP continues its upward trajectory.
Related: XRP Soars to $3.10 as SEC Appeals Retail Ruling in Ripple Case
He noted that XRP and Bitcoin would likely remain “prime targets” for misinformation as their adoption grows.
XRP’s Price Surge
XRP soared to a new multi-year high of $3.40 and trades at $3.32 at the time of writing, up 8.48% in the past day, as per CoinMarketCap data.
With a market capitalization of $191 billion, XRP is closing in on Ethereum, which has underperformed in recent months.
The Relative Strength Index (RSI) for XRP reads a value of 77.36 which means that the bulls are overall in control of the altcoin’s price action. XRP is currently overbought and the gradient of the line suggests a slight cool-off.
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