The post Crypto Founder Highlights New Reason to Dislike XRP appeared on BitcoinEthereumNews.com.

Joshua Jake, the founder of OmniSwapAi, has identified another significant reason to dislike the XRP token with the political choice of some of the leadership figures at Ripple. Recall The Crypto Basic’s report on Friday, which disclosed that Ripple’s chairman, Chris Larsen, has endorsed incumbent VP Kamala Harris to become the next president of the U.S. Specifically, Larsen joined 87 other financial business leaders in signing a letter endorsing Harris’ presidential bid. The group expressed confidence in Harris’ ability to bolster the U.S. economy and democracy.  Crypto Community Reacts However, Harris’s prominent role in the current administration, under which the crypto industry has faced regulatory hurdles—including Ripple’s own legal battles—has triggered mixed reactions from the community.  Larsen’s endorsement fueled debate, with some expressing disappointment given the challenges XRP faced during the lawsuit, which hindered XRP holders from capitalizing on the 2021 bull market. Due to the current regulatory climate, many crypto leaders have chosen to back Donald Trump instead. Trump has fervently promised to make Bitcoin and crypto great if elected president, promising pro-crypto policies. While Harris has not issued specific pro-crypto promises, Ripple’s chairman has thrown his weight behind her. Reacting to the development, prominent community commentator Joshua Jake criticized Larsen’s endorsement. He views it as yet another reason to distance oneself from XRP.  He highlighted that XRP investors suffered under the current administration, particularly during the lengthy lawsuit that stalled significant price gains. Notably, the community’s reactions to Larsen’s political choice have not been one-sided, with some finding justification for it. Community member Michael noted that Ripple’s leadership is likely playing a strategic game, trying to be on both sides of the political divide so that regardless of who ultimately wins the presidential election in November, Ripple would not be at a disadvantage. Political Choice of Other Ripple…

---

Filed under: News - @ September 7, 2024 7:23 am