Category: Crypto market

Ripple a prominent supporter of Fairshake, a political action committee (PAC),  revealed a substantial new donation to sway the US elections.

 

The CEO of Ripple announced that the company would donate $25 million to Fairshake to support the election of “pro-crypto, pro-growth, and pro-innovation” candidates in future U.S . elections.  Ripple had already contributed $45 million to the PAC ahead of the 2024 election, making it one of Fairshake’s biggest donors along with Coinbase, Jump Crypto, and Andreessen Horowitz.

PAC has roughly $103 million FOR the 2026 U.S. election cycle. The PAC was one of the largest spenders in the 2024 primary and general elections with roughly two-thirds of elected candidates supporting pro-crypto policies,. Candidates “from both sides of the political spectrum” allegedly supported by the PAC. The Republican Party won the November elections and now controls the Senate, the House of Representatives, and the presidency—a political trifecta not seen since 2017.

The Financial Innovation and Technology for the 21st Century Act and stablecoin regulations are among the bills that experts expect upcoming Congress might give top priority. In 2025 and 2026, Fairshake’s efforts will be contingent on how lawmakers address the regulation of cryptocurrency.

A major investment in the Ohio Senate race to is to unseat Sherrod Brown, the Democratic chairman of the Senate Banking Committee and a strong opponent of crypto assets. Brad Garlinghouse has not been seen to make direct contributions to Donald Trump’s presidential campaign or his PACs during the 2024 election cycle.

However, he has stated that the Republican would “restore the crypto industry to its former glory” in the US. The co-founder and executive chairman of Ripple, Chris Larsen, on the other hand, gave $12 million to political action committees that backed Democratic candidate and Vice President Kamala Harris.

 

 

XRP has been under high selling pressure as Bitcoin lost the $95,000 support line on Tuesday. The Ripple token has fallen more than 9% in the past day. Price action affirmed that XRP surged to a peak of $1.63 in November, it retested the channel’s upper trendline. 21.

 

XRP trades at $1.36 above the support level of $1.33. The price may fall to this level of support should bearish sentiment worsen.  The altcoin might drop to $1.15 if buying pressure at that level continues to decline. However, this pessimistic view will be refuted if market sentiment changes from negative to positive.

If this occurs, the altcoin will try to surpass its year-to-date high of $1.63. With XRP, DOGE, and ADA sharply declining from the higher valuation, several of the high-flying altcoins on Tuesday have also reversed their course. This significant volatility has hurt over-leveraged traders.. Liquidated positions have a combined value of nearly $500 million.

SEC accused Ripple of raising $1.33 billion through an unregistered securities offering through XRP sales, the company has been embroiled in a legal battle with the agency. Over the years, Ripple achieved some success showing that XRP is not a security.

The XRP community was enthused by Alderoty’s post, which many saw as a good thing for the future. He thanked the devoted “XRP Army” for their steadfast support, writing, “We kept the door open long enough for the industry to survive and seize this incredible moment.”.

Traders might interpret this as a sell signal to lock in profits, which could cause the price to decline or consolidate sideways. The price of XRP has been consolidating sideways within a triangle-shaped range Similar to a bull pennant. When the price breaks above the upper trendline and rises by the height of the previous uptrend, a bull pennant, a bullish continuation pattern, resolves.