😳😳😳 $XRP Price Risks Crash to $0.45 As #ChrisLarsen Endorses #kamalaHarris
Ripple Price Under Pressure Amid Global Concerns and Political Ties
- Ripple (XRP) dropped below key support on September 6, impacted by a global market downturn and #Bitcoin’s decline. XRP also faced scrutiny after Ripple Chairman Chris Larsen endorsed Kamala Harris for president, raising concerns in the XRP community due to her administration's perceived anti-crypto stance.
Chris Larsen’s Endorsement and Investor Concerns
- Larsen's support for Harris, despite the SEC's hostility toward cryptocurrencies, puzzled XRP investors. Ripple recently reduced its SEC fine to $125 million, but this political endorsement may polarize opinions and impact investor sentiment.
Economic Fears and Ripple Price Outlook
- Weak U.S. economic reports and fears of a recession are affecting crypto markets. XRP, down 1.6% and trading at $0.5279, remains bearish. If it breaks the $0.485 support, further declines to $0.45 are possible. Bulls need to reclaim $0.540 for a potential shift in momentum. Traders are advised to wait for a bounce from the $0.485 support before considering long positions.
Source - coingape.com
