XRP Price Analysis: Ripple’s Donation to Kamala Harris and Implications for XRP Price

XRP Price Trends and Ripple's Political Move

XRP price has opened trading at $0.54 on Oct 13, exhibiting sideways movement over the last 10 days, while the broader crypto market enjoys significant gains.

Ripple Co-Founder’s Contribution to Kamala Harris

Ripple co-founder Chris Larsen donated over $1 million worth of XRP to the Future Forward PAC, supporting Vice President Kamala Harris's presidential campaign. Larsen made the generous donation of 1,754,815.29 XRP tokens on August 18, 2024, seeking political influence.

The Political Landscape and Crypto Trends

• Crypto and the 2024 Presidential Election: Crypto is a central theme for both Democratic and Republican candidates.
• Harris's Economic Vision: She aims to embrace digital assets.
• Trump's Pro-Crypto Stance: He claims to combat the aggressive stance on the crypto industry.

Polling Insights

Trump, gathering support from crypto personalities like Elon Musk, leads the polls with 54% votes, compared to Harris at 45.1%.

Ripple's Positioning Against the SEC

As Ripple faces legal challenges, Chris Larsen's backing of Harris may position Ripple favorably for future lobbying efforts, despite diverging from the majority opinion of the crypto community.

XRP Price Forecast Amid Ongoing Litigation

XRP's recent performance—gaining only 6.5% during a general market recovery—raises concerns about its potential to rise above the $0.55 resistance level while key support holds at $0.52.

Market Speculations

Market sentiment points to continual consolidation, with any upward movements hindered by the prevailing legal uncertainties surrounding Ripple's dealings with the SEC.