XRP Takes Center Stage as Ripple Refutes Rumors of Trump Criticism

Rumors linking Donald Trump to XRP (CRYPTO:XRP) have taken center stage, with Ripple’s Chief Legal Officer, Stuart Alderoty, dismissing claims that Trump criticized Ripple for financially supporting Kamala Harris during the presidential election.

The speculation intensified after a New York Post article hinted that Trump may be backing a reserve for U.S.-developed tokens, including XRP, SOL, and USDC.

According to the Post, Trump recently met with developers of these tokens to discuss the reserve. However, crypto media outlet Unchained reported that the claims were "untrue."

Unchained linked the speculation to a previous Axios report, where Trump allegedly criticized a company for backing Harris instead of him. While the company was not named, Unchained cited anonymous sources suggesting it was Ripple.

The narrative is complicated by Ripple Chairman Chris Larsen's donation of over $10 million to support Harris and Alderoty's contribution of 624,000 XRP tokens to Trump's reelection fund. Additionally, Ripple donated $5 million to Trump's inauguration and had dinner with him before he took office.

Alderoty strongly refuted the rumors, calling them "pure fiction" and questioning the motives behind such claims. Several figures within the XRP community expressed similar sentiments.

Attorney John Deaton warned of an increase in FUD (fear, uncertainty, and doubt) against the altcoin following its price surge. He cited XRP's 8.45% rally in 24 hours to $3.32, which may serve as a catalyst for misinformation campaigns.

Deaton urged the community to prepare for potential challenges, such as influencers promoting the token for their own financial benefit, non-XRP media outlets and influencers spreading FUD, and prominent figures in the crypto space openly criticizing the token.

Prominent Ripple supporter Crypto Eri criticized journalists for relying on anonymous sources, arguing that it undermines credibility. Pro-XRP analyst Zach Rector advised ignoring the rumors, predicting that Ripple and Trump will continue working together.

Meanwhile, XRP continues to face scrutiny from skeptics, including Bitcoin maximalist Rajat Soni. He dismissed projections of the token reaching $100 or $1,000 per coin as unrealistic.

Soni argued that a $100 price would push XRP's market cap to $10 trillion, a feat he посчитал недостижимым. Despite his skepticism, the altcoin's recent performance has emboldened some to forecast higher values.

Amidst the rumors and skepticism, XRP's strong performance and Ripple's firm denial highlight the asset's resilience. At press time, the altcoin boasted a market cap of $191 billion, cementing its position as a top cryptocurrency.