XRP Price Signals A Bullish Reversal: Can The Bulls

This sharp decline led to a break below both the 50-period Simple Moving Average (SMA), which is the green line and the 200-period SMA, shown in blue.

Ripple co-founder Chris Larsen donated $1 million in XRP to a super PAC supporting Kamala Harris's 2024 presidential campaign, making her the first candidate to receive a cryptocurrency donation, according to Federal Election Commission (FEC) filings. Larsen's donation was highlighted in the filings, which also showed his recent endorsement of Harris's candidacy in a letter.

This development comes amid Ripple's ongoing legal battle with the US Securities and Exchange Commission (SEC). The SEC filed a lawsuit against Ripple in 2020, alleging that the company's sale of XRP violated federal securities laws. Ripple has denied the allegations and the case is still pending.

Despite the legal challenges, Ripple has maintained its support for candidates and causes aligned with the company's values. In the past, Ripple has donated to organizations focused on promoting financial inclusion, education, and technological advancement.

Harris, a former US senator from California and vice president under the Biden administration, announced her intention to run for president in late January. She joins a crowded field of Democratic candidates vying for the party's nomination.

The 2024 presidential election is expected to be fiercely contested, with candidates seeking to secure資金 from diverse sources, including individuals, corporations, and unions. Cryptocurrency donations have emerged as a small but growing channel for political campaigns in recent years.

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