Democrats Face Ripple's $100 Million XRP Sell Off Amid Kamala Harris Donation

Tuesday, 22 October 2024, 13:05

Democrats are navigating the implications of Ripple's $100 million XRP sell off, coinciding with a substantial donation to Kamala Harris. This event raises questions about XRP's market performance amid political maneuvers.
Finbold
Democrats Face Ripple's $100 Million XRP Sell Off Amid Kamala Harris Donation

Market Dynamics: XRP Sell Off

In October, Ripple sold over $100 million worth of XRP, indicating financial strategy amidst a political backdrop. This sale coincides with Ripple's announcement of a $10 million donation to Kamala Harris’s campaign.

XRP Price Trends and Indicators

XRP's price showed a tentative uptrend, ranging from highs of $0.65 to lows of $0.514, trading currently at $0.541. Market reports indicate ongoing volatility amidst political dynamics.

  • Ripple executed sales in accordance with its On-Demand Liquidity model.
  • The political support for Kamala Harris has implications for crypto regulation.

Political Context of Ripple's Move

The timing of this sale raises scrutiny over XRP's market performance, particularly in light of political pressures and potential regulatory shifts. Chris Larsen, co-founder of Ripple, expressed support for Harris, noting the necessity of a tech-savvy political approach.

  1. Market Analysis by Finbold indicates a 9.05% drop in XRP following significant liquidity events.
  2. Future XRP sales may perpetuate market fluctuations as Ripple continues its sell-off strategy.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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