Ripple CEO Brad Garlinghouse recently shared a game-changing update with the XRP community. U.S. President-elect Donald Trump announced hedge fund manager Scott Bessent as his nominee for Treasury Secretary. This development has sparked optimism among the crypto community about a favorable resolution to the XRP-SEC lawsuit and Ripple’s future.
Donald Trump’s Treasury Pick: Who Is Scott Bessent?
Donald Trump revealed that Scott Bessent, founder of Key Square Group, is his choice for Treasury Secretary. Bessent is renowned for his work with George Soros in 1992, where he gained recognition for shorting the British pound.
Ripple CEO Brad Garlinghouse expressed enthusiasm on X, calling Bessent a “perfect choice” and predicting that he would be the most pro-innovation and pro-crypto Treasury Secretary to date. Garlinghouse added, “Scott Bessent is an outstanding choice who will drive crypto innovation forward.”
XRP Price Surges Following Announcement
Following the news of Bessent’s nomination, XRP’s price surged past $1.60, with trading volume increasing by 22%. Over the past week, XRP has recorded a gain of more than 60%, prompting analysts to predict a potential rally to $2.
The ripple effect of this announcement was felt across the crypto market, with industry leaders like Cardano founder Charles Hoskinson and XRP advocate John Deaton voicing their support. Deaton stated, “Trump’s transition team now has the opportunity to appoint the right SEC Chair, setting the stage for a new digital age of innovation.”
Market Optimism and the Road Ahead
The crypto community is hopeful about Bessent’s approach to crypto adoption policies. Investors eagerly await further details on fiscal policy and its potential impact on Ripple and XRP’s future.
As highlighted by Dey There, this appointment has created an atmosphere of optimism around Ripple and the broader crypto market. Many believe Bessent’s leadership could positively influence the resolution of the SEC lawsuit and support innovation in the digital finance sector.
With XRP prices on the rise and market dynamics evolving, all eyes are on Ripple and the next steps in U.S. crypto policy.
XRP price, Ripple, Scott Bessent, SEC lawsuit, crypto market
