Ripple CEO Brad Garlinghouse has shared encouraging news with the XRP community following President-elect Donald Trump’s announcement of Scott Bessent as his choice for Treasury Secretary. This move has ignited optimism within the crypto sphere, particularly regarding the XRP and SEC case.
Trump Names Treasury Secretary Candidate
President-elect Trump revealed Scott Bessent, a hedge fund manager and founder of Key Square Group, as his nominee for Treasury Secretary. Bessent is renowned for his strategic short position against the British pound during George Soros’s famed 1992 trade.
Brad Garlinghouse took to X to express his approval, calling Bessent a “perfect choice” for the role. He highlighted Bessent’s potential as the most pro-innovation and pro-crypto Treasury Secretary in U.S. history, signaling a new era for cryptocurrency policy.
XRP Prices Surge
The announcement spurred immediate market reactions. XRP’s price surged beyond $1.60, marking a 22% increase in trading volume and a weekly rise of over 60%. Market analysts suggest the price of XRP could climb as high as $2 if momentum continues.
Other crypto leaders echoed the optimism. Cardano founder Charles Hoskinson praised the development, while XRP attorney John Deaton emphasized the importance of appointing a crypto-forward SEC Chair to complement Bessent’s Treasury leadership.
Optimism for XRP’s Legal Future
The XRP community sees Bessent’s appointment as a promising step towards favorable outcomes in the ongoing Ripple-SEC legal battle. Ripple and broader crypto markets are keenly observing fiscal policies and further decisions from the incoming administration.
As crypto-friendly leadership takes shape, investors anticipate a transformative era for digital assets, with Ripple and XRP positioned at the forefront.
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