Xena, a prominent figure in the XRP community, has challenged the popular belief among some community members that Donald Trump needs to be re-elected for XRP to reach new heights.
Supporters of the idea that Trump’s influence could boost XRP often cite his strong pro-crypto stance. Trump has repeatedly stated publicly that he aims to make the U.S. a global hub for crypto. He has also hinted at mining Bitcoin in the US more than in any other country in the world. They believe his presidency would create a more favorable regulatory environment for crypto businesses, potentially leading to significant gains for assets like XRP.
Trump’s potential impact on crypto was evident last month when he delivered a pro-Bitcoin speech at the 2024 Bitcoin conference. Bitcoin, which traded at a low of $65K on the eve of his presentation, rallied to approximately $70K by July 27. This surge also boosted the altcoin market, with assets like XRP advancing significantly.
According to XRP community figure Chad Steingraber, Trump’s election as U.S. president could drive XRP to $40. Moreover, Steingraber stated that nothing significant is likely to happen for XRP until 2025, assuming Trump wins.
Trump Not Needed for XRP to Rise
However, not everyone agrees with Steingraber’s assessment. Xena, another community member, has disputed this idea, dismissing it as a myth. She argued that both Trump’s and Biden’s presidencies have been “eye-openers” for Ripple but not necessarily beneficial.
She referenced statements from Ripple’s chairman, Chris Larsen, who has reportedly noted that neither the Trump nor Biden administrations have positively impacted the crypto space, especially considering that the Ripple lawsuit began during Trump’s first term.
Xena pointed out that, regardless of the election outcome, Ripple and XRP have already achieved significant progress with their legal victories. She emphasized that Ripple’s future is not dependent on the next U.S. president and that the next administration will unlikely hinder crypto innovation. Essentially, Ripple is now positioned to move forward.
Xena stressed that Trump’s re-election is not a prerequisite for XRP’s price increase or Ripple’s continued success. She reiterated that this belief is mythical, and the only requirement for XRP’s progress was the lawsuit victory, which has already been achieved this month.
Notably, many XRP proponents have expressed agreement that XRP will dominate regardless of who becomes U.S. president.
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