Ripple CEO Garlinghouse Bullish On XRP Plans Under Treasury Sec Scott Bessent
Highlights
- Donald Trump nominates Scott Bessent as US Treasury Secretary.
- Ripple CEO Brad Garlinghouse expressed bullishness on Bessent's pick as Treasury Secretary.
- Charles Hoskinson, John Deaton, Matthew Sigel, and David Bailey reacted positively.
- XRP and ADA prices rallied to hit new high.
Ripple CEO Brad Garlinghouse shared another good news with the XRP community as US President-elect Donald Trump finally picked his Treasury Secretary. Garlinghouse expressed bullish sentiment on XRP, crypto innovation, and a possible end of the SEC lawsuit. Ripple CEO Garlinghouse referred Scott Bessent is the “perfect pick.”
The crypto community now awaits Trump’s nomination for other government agencies’s heads including US SEC chair. Gary Gensler confirmed that he will step down as US SEC Chairman on January 20.
Ripple CEO Reacts As Donald Trump Nominates Scott Bessent
Ripple CEO Brad Garlinghouse took to X to express his excitement with the XRP army. He said Scott Bessent as Treasury Secretary is a “perfect pick”. Garlinghouse’s post expressed bullishness for XRP and other innovations including XRP and RLUSD stablecoin, which currently await approval from US authorities.
“I don’t want to get too far ahead of myself but… Scott Bessent is the perfect pick.”
He considered Bessent as the most pro-innovation, pro-crypto Treasury Secretary ever seen. Other crypto executives and experts including Charles Hoskinson, John Deaton, Matthew Sigel, and David Bailey reacted positively. The community believes the crypto-friennly administration will help bring crypto regulatory clarity.
Pro-XRP lawyer John Deaton said the Trump transition team now needs to get “SEC Chair right, we are about to enter the Digital Age of Innovation.” Meanwhile, Pro-XRP lawyer Jeremy Hogan predicted a potential conclusion timeline for Ripple SEC case.
Wall Street and Crypto Market Congratulate Scott Bessent
US President-elect Donald Trump has nominated Scott Bessent to lead the US Treasury Department. The new Treasury Secretary is the founder of hedge fund manager Key Square Group. He is known for the famous short bet against the British sterling in 1992 when he worked for George Soros.
Picking the US Treasury chief proved to be one of Trump’s most crucial decisions as Wall Street closely watched the drama. Apollo Global Management CEO Marc Rowan and former Federal Reserve Governor Kevin Warsh were in the race.
“Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists,” Trump wrote on Truth Social, reported Reuters.
Both Wall Street and the crypto market reacted bullishly as Trump named Scott Bessent to lead the Treasury Department. Bessent is positive on crypto adoption policy, but investors await more details on his views on fiscal policy and the next steps.
XRP Price Eyes $2 As Ripple CEO Turns Bullish
Bullish reactions from Ripple CEO and Cardano founder Hoskinson triggered further rally in XRP and ADA prices. All eyes are now on upcoming nominations by Donald Trump.
XRP price extended its weekly rally to more than 60%, with a 12% pump in the last 24 hours. XRP saw a 24-high of $1.62 as trading volume climbed further by 22%. Popular analysts predicted an XRP price target of $2.
Also, ADA price jumped 22% in the past 24 hours, with the price finally surpassing $1. The 24-hour low and high are $0.856 and $1.140, respectively. Furthermore, the trading volume has increased by 130% in the last 24 hours, indicating a massive interest among traders.
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