3 hours ago
Top-performing xrp (XRP) and Ethereum’s ETH saw nett taking aboriginal Saturday arsenic a Donald Trump-themed “official” memecoin attracted $3 cardinal successful its archetypal fewer hours aft being issued connected the Solana network, driving request for SOL tokens.
Price-action successful bitcoin (BTC) and astir majors, specified arsenic dogecoin (DOGE) and BNB Chain’s BNB, remained muted arsenic the TRUMP token shifted sentiment for XRP and ETH. Traders perceived the Trump memecoin’s prime of issuing the token connected Solana arsenic bearish for Ethereum.
An “official” memecoin linked to Trump was issued successful aboriginal Asian hours Saturday from his verified X and Truth Social accounts. Prices ran from a fewer cents to $14 successful little than six hours amid wide disorder connected whether the token was backed by Trump, as reported.
Some money managers see the determination to beryllium bullish for memecoins: “The incoming President conscionable gave everyone licence to motorboat a memecoin - $SOL is getting the message, buckle up,” Placeholder VC spouse Chris Burniske wrote connected X.
Elsewhere, XRP slumped arsenic overmuch arsenic 5% to pare gains from a 40% summation implicit the past 7 days. Demand for XRP has surged since aboriginal November erstwhile Republican Trump won the U.S. statesmanlike elections and promised to marque the state a hotbed for section crypto businesses — improving sentiment for tokens linked to U.S. companies (XRP is intimately related to New York-based Ripple Labs.)
XRP broke the $3 people for the archetypal clip since 2018 connected Friday up of Trump’s inauguration connected Jan. 20. The speculative determination came connected unconfirmed reports that Trump was unfastened to an “America-first strategical reserve that would prioritize integer coins founded successful the U.S., similar Solana, USD Coin and Ripple.”
Talks of immoderate strategical reserve person truthful acold lone included plans for bitcoin holdings.
Ripple CEO Brad Garlinghouse had astatine slightest 1 gathering with the President-elect successful aboriginal January, bumping speculation that Ripple could perchance person a nonstop transmission to power the incoming administration, causing heightened involvement successful XRP.
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