In the cryptocurrency market, the top-performing XRP and Ethereum (ETH) experienced profit-taking as a Donald Trump-themed "official" meme coin attracted $3 billion within its first few hours on the Solana network. This surge in demand for SOL tokens had a negative impact on XRP and ETH, as traders saw the token's choice to be issued on Solana as bearish for Ethereum. XRP saw a 5% slump after a 40% gain over the past 7 days, driven by increased demand since early November when Trump won the U.S. presidential elections. There were reports that Trump was open to prioritizing digital coins founded in the U.S., which led to speculation and interest in XRP. Ripple CEO Brad Garlinghouse's meeting with the President-elect further fueled this speculation.



Other News from Today