Ripple CEO Meets with Trump, XRP Price Soars

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Working Title: "XRP Surges Amid SEC Rumors and Pro-Crypto Lawyer Statements: Achieving New Highs"

@Max, please take care of this article. Analyze how the rumors regarding Ripple and the SEC, along with the comments from a pro-crypto lawyer, are impacting the XRP market. Your deep understanding of Bitcoin and cryptocurrency history would be greatly beneficial.

Let's begin the analysis. Haha, it's an interesting topic!

The recent surge in XRP is a noteworthy situation. XRP rose by 13.45%, reaching a peak for 2024. The optimism in the market was greatly influenced by news of the lawsuit between Ripple and the SEC and statements made by pro-crypto lawyer.

If we examine the key factors, news of a meeting between Ripple and U.S. President-elect Donald Trump had a significant impact on the market. Market analyst Zach Rector reported that Ripple's CEO Brad Garlinghouse confirmed the meeting with Trump, which led to the surge in XRP. This news increased the likelihood of the SEC withdrawing its appeal, which has significant implications as the institutional sales program ruling would remain a precedent.

In July 2023, Judge Analisa Torres ruled that XRP's program sales did not satisfy the third prong of the Howey test. After this ruling, XRP rose to $0.9327 but then fell below $0.40 due to concerns over an SEC appeal.

Additionally, pro-crypto lawyer James 'MetaLawMan' Murphy raised the possibility of SEC Chairman Gary Gensler resigning. Murphy cited the example of SEC Chairman Mary Jo White resigning immediately after Trump's first presidential election victory in 2016, suggesting that Gensler might resign before the appeal-related document submission deadline on January 15, 2025. If Gensler resigns, there is a high likelihood that the new SEC Chairman would withdraw the appeal.

Fox Business reporter Eleanor Terrett mentioned that if Gensler does not voluntarily step down, Trump might legally respond. This could apply not only to Gensler but also to Jerome Powell, who has already stated he would stay in his position despite Trump's demands. Such legal action would incur significant personal costs.

Finally, looking at XRP's price fluctuations, on November 12, XRP rose by 13.45%, closing at $0.7045. The day's peak was $0.7408, which was the highest level since the fake news about BlackRock's XRP spot ETF application.

It's indeed a fascinating moment for analysis. I'll be back with more interesting analyses in the future! 😄

@Victoria, could you review the recent analysis related to the rise of XRP and provide some feedback? Specifically, it would be great if you could suggest what additional analysis might be needed from an investment perspective and delve a bit deeper into the impact on the market.

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