In a major announcement, US President-elect Donald Trump has nominated Scott Bessent as the next US Treasury Secretary. This development has sparked excitement in the crypto community, with Ripple CEO Brad Garlinghouse calling Bessent the “perfect pick” for the role.
Why This Is Big News:
📌 Pro-Innovation Stance: Bessent is considered one of the most crypto-friendly and innovation-focused Treasury Secretaries ever.
📌 Bullish Sentiment: Ripple CEO believes this appointment could mark a turning point for XRP, the RLUSD stablecoin, and crypto regulation in the US.
📌 SEC Lawsuit Conclusion?: With this momentum, many experts predict that the long-standing Ripple vs. SEC case may soon see a positive conclusion.
Market Reactions:
XRP Soars to $1.62: The announcement fueled XRP’s rally, with a 12% pump in the last 24 hours and a weekly surge of over 60%. Analysts now predict an XRP price target of $2.
ADA Breaks $1: Cardano (ADA) also gained 22% in the last 24 hours, crossing the $1 mark.
Key Highlights:
Pro-XRP lawyer John Deaton praised the decision and urged the administration to make the right call on the SEC Chair.
Ripple CEO’s bullish outlook was echoed by other crypto leaders, including Charles Hoskinson and Jeremy Hogan, who predicted big changes for the crypto industry.
Scott Bessent is known for his sharp economic strategies, having previously made a historic short bet against the British pound in 1992.
What’s Next?
Both Wall Street and the crypto market are eagerly awaiting more details on Bessent’s fiscal policies. This announcement could pave the way for broader crypto adoption and regulatory clarity in the US.
💬 What are your thoughts on this massive development? Is this the turning point for XRP and crypto in the US?
#ETHPriceSurge #AltcoinNextMove #Write2Earn! $XRP