The future of the US presidential elections and the XRP SEC case: Why did Kamala Harris' donation attract criticism?

XRP coin, which showed movement over the weekend, has become a subject of debate among the community with the donation made to Kamala Harris. Investors think that supporting Kamala Harris in the US elections with a donation that made a big impact is a wrong policy. The seventh largest altcoin, which showed a short-term rise to $0.55 at the beginning of the week but failed to hold above this level, raises concerns about its performance after the elections.

What does the $10 million XRP donation to Kamala Harris mean?

Chris Larsen, one of the co-founders of Ripple, announced that he donated XRP worth 10 million dollars to Future Forward USA to support Kamala Harris in the upcoming US presidential election. This is the second donation to Harris from the Ripple camp, following last month’s million-dollar donation. However, these donations were not well received by the XRP community and triggered significant debates.

The community strongly criticized donating to Harris, who does not pursue a crypto-friendly policy as much as Donald Trump. The community, concerned about the SEC case if Harris wins the election, emphasized that it was a wrong decision by reminding the SEC Ripple case that started in the previous Biden administration and created significant pressures on Ripple for many years.

However, Larsen X explained his donation to Kamala Harris in the following way:

“It’s time for Democrats to embrace a new approach to technology innovation, including crypto. I believe Kamala Harris will ensure American technology dominates the world, so I’m donating XRP worth $10 million to support her.”

On the other hand, Brad Garlinghouse stated that this is all about advocating policies that drive blockchain and crypto innovation.

However, it is generally believed that the crypto market will grow more if Trump wins, and it is predicted that the usage areas of cryptocurrencies will expand. A recovery in Bitcoin price is expected after the election results, and it is believed that Trump will boost market optimism.

XRP 1-week price chartLooking at the XRP price, the altcoin has declined by 3.39% in the past 24 hours, along with the overall market sentiment, and is trading at $0.53. The altcoin, with a trading volume of $1.18 billion, is losing momentum. The RSI is at 43, indicating a neutral zone, and the ADX level is decreasing, indicating a loss of trend strength. In the short term, it is necessary to monitor the level of 0.5320 in the XRP price, which is consolidating in a narrow range.

The information in the text is purely for informational purposes. It does not constitute any investment advice. Writer and kriptoparahaber.com are not responsible for your profit or loss due to your investments. Ultimately, investment is based on many factors such as knowledge, experience, research, and personal decisions.

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