Ripple, XRP Endagers Bullish US Crypto Agenda, Messari Founder Says In Fresh Scathing Attack
Messari co-founder Ryan Selkis is a well-known Ripple critic. Over the past few months, Selkis scorn for the San Francisco-based company and its cross-border payments token XRP seems to have taken a darker turn.
The pundit slammed Ripples attempts to create ties with the forthcoming Donald Trump government. Ripples CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty dined with President-elect Trump earlier this month.
Selkis Takes A Swipe At Ripple And XRP
Messaris Ryan Selkis has once again taken aim at Ripple and XRP. In a recent post on the X platform, Selkis described Ripple as a threat to the Trump administrations cryptocurrency agenda, cautioning that XRPs recent market strides are generally detrimental.
The industry expert noted that XRP has surpassed Salesforce in market cap and is nearing the market capitalization of Bank of America. Moreover, XRP is now bigger than ride-hailing giant Uber, Spotify, PayPal, and MicroStrategy combined. In addition, the third-largest crypto is basically 5X the size of Americas biggest crypto exchange, Coinbase.
Ripples crash and scandals will take down the entire crypto agenda in DC, Selkis wrote.
Its worth mentioning that XRP currently commands a $178 billion market cap following its recent rally, while Salesforce is valued at $310 billion. But for Selkis and other Ripple critics, this does little to detract from the fact that Ripples parabolic growth is a potential threat to crypto.
Selkis, meanwhile, claims that Ripple will unleash doom for crypto. In a follow-up post intended to explain his aversion to Ripple, he posited that the companys executives were not good people, possibly referencing co-founder Chris Larsen and CEO Bradley Garlinghouse.
The reason Im a dick about Ripple isnt because I care about XRP or its memecoin rally. Im happy for all of the retail holders who have made bank. My issue with them is that they arent content with just being billionaires, they lust for power, Selkis asserted.
Ripple And The Trump Administration
As ZyCrypto reported previously, Ripple donated $5 million worth of XRP to Trumps presidential inaugural fund. Reports say that the U.S. Securities and Exchange Commission (SEC) under Trump could review its crypto-related cases and pause any that dont have fraud allegations.
Industry lawyers also bet that the SEC will soon abandon its crypto cases. Ripples chief legal officer Stuart Alderoty said on Jan. 15 that the regulators long-running enforcement case against the firm was likely to be abandoned by the incoming Trump administration after the agency filed an appeal challenging a July 2023 ruling that partially dismissed claims against the company.
More interestingly, Trump is reportedly open to creating a wider national strategic reserve prioritizing U.S.-founded cryptocurrencies such as XRP. The news was enough to send XRP to a price not seen since 2018. The crypto peaked at $3.38 just two cents from its all-time high price mark.
Text source: ZyCrypto
