The creation of Donald Trump’s TRUMP memecoin, amassing an astonishing $8 billion in value shortly after its release, has ignited controversy within the Ripple community. Analysts are evaluating the possible repercussions that the introduction of the TRUMP memecoin might have on the ongoing XRP lawsuit.
Lawyer Bill Morgan, representing XRP, expressed criticism towards Donald Trump’s recent memecoin launch, which has caused a stir in the cryptocurrency market. As the XRP community eagerly anticipates the resolution of the ongoing legal case, Trump’s association with the memecoin launch has sparked debates and controversy.
TRUMP Memecoin To Impact XRP Lawsuit, Says Lawyer
In a recent post, attorney Bill Morgan from X expressed worries about how Donald Trump’s TRUMP meme token could influence the ongoing legal battle between the SEC and Ripple. According to Morgan, while Trump may have “presidential immunity,” his connection to the launch and advertising of a speculative crypto token underscores the importance of having well-defined regulations in the digital currency industry.
It’s intriguing to consider the ongoing SEC vs. Ripple appeal, given that the incoming President is about to launch and endorse a meme coin of his own. However, it’s important to note that as President, he would be granted presidential immunity.
— bill morgan (@Belisarius2020) January 18, 2025
Remarkably, the upcoming President’s endorsement of a memecoin is unparalleled and has ignited anxiety among cryptocurrency enthusiasts. Discussing the possible consequences, the lawyer commented, “It’s challenging to imagine how the SEC versus Ripple case proceeds when the soon-to-be inaugurated President launches and endorses his own speculative meme coin.
Will the Ripple-SEC Legal War End Under the Trump Admin?
The XRP community has been eagerly waiting for the resolution of the four-year legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC). The crypto policies introduced during Trump’s presidency and the appointment of pro-crypto officials have boosted hope within the community. The resignation of SEC Chair Gary Gensler and the subsequent appointment of Paul Atkin has added to the enthusiasm, sparking discussions about a potential shift in regulatory landscape.
More recently, the situation concerning the settlement of the XRP lawsuit has become more complicated due to speculations about a disagreement between Ripple and former President Trump. It was suggested that Trump criticized Ripple for backing Kamala Harris during the election process. However, Ripple’s Chief Legal Officer, Stuart Alderoty, refuted these claims, stating on social media platform X, “The stories put forth by this lesser-known cryptocurrency outlet are entirely fabricated.
TRUMP Token Boosts XRP Rally
After Donald Trump’s victory in November, the price of XRP began to climb from its lows due to expectations of regulatory changes and a potential settlement in the XRP lawsuit. For the first time since 2018, XRP exceeded the significant $3 mark on Friday, just before Trump’s inauguration on Monday. As we speak, XRP is trading at $3.17, representing a substantial monthly increase of 31%. Although there was a slight dip of 3% over the past day, the token has experienced a substantial surge of 31% in the last week.
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2025-01-18 16:30