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Following the launch of Donald Trump’s TRUMP memecoin, experts are analyzing its potential impact on the XRP lawsuit, which has faced criticism from the Ripple 
$2 community. The introduction of this speculative token raises significant questions about regulatory clarity within the cryptocurrency space.
TRUMP Memecoin May Impact XRP Case, Lawyer Warns
XRP attorney Bill Morgan expressed concerns over the ramifications of Trump’s TRUMP meme token on the ongoing SEC versus Ripple legal battle. Although Trump may possess “presidential immunity,” Morgan believes that the launch and promotion of a speculative token emphasize the necessity for clear regulations in the crypto sector.
Bill Morgan stated, “It’s hard to see the SEC and Ripple appeal continuing after the President launches his speculative meme coin.”
The XRP community is eagerly anticipating an end to the four-year legal struggle between Ripple and the U.S. Securities and Exchange Commission (SEC). Trump’s policies on cryptocurrency and the appointment of crypto-friendly candidates in key government roles have sparked hope within the community. The resignation of SEC Chair Gary Gensler and the appointment of Paul Atkins signals the beginning of a new regulatory era.
Trump’s Token Fuels XRP Rally
After Trump’s re-election in November, XRP surged from low levels, fueled by expectations of regulatory changes and a resolution to the XRP case. For the first time since 2018, XRP surpassed the critical $3 mark. As of the article’s publication, XRP was trading at $3.17 with a 31% monthly increase, despite a 3% drop in the last 24 hours, showing significant gains over the week.
Ripple CLO Stuart Alderoty refuted rumors of a conflict between Ripple and Trump, categorizing them as fabricated stories from third-rate crypto news outlets. The President’s support for a memecoin has raised widespread concerns among crypto enthusiasts about potential uncertainties in the market, prompting experts to emphasize the importance of a solid regulatory framework.
The XRP community hopes for a fair and transparent resolution to the lawsuit between Ripple and the SEC. The implications of Trump’s actions in the crypto arena on the legal proceedings continue to intrigue the community, with the timeline of regulatory clarity remaining a crucial factor for market stability. The outcome of the XRP case in relation to Trump’s memecoin will unfold in the coming period.
