Is Trump Coin Price Following XRP’s Movement? Lawyer Fuels Speculation

XRP and Trump coin price recorded massive gains today, indicating the positive market sentiment towards the assets. The surge comes amid a positive sentiment noted in the broader crypto market with most of the top cryptocurrencies maintaining their position in the green. However, a pro-XRP lawyer has sparked discussions with his recent hint that the TRUMP coin is following XRP’s path, especially amid rumors over Ripple’s close tie with the US administration.

TRUMP Coin Price Up 15% Amid XRP’s Surge

TRUMP coin has created a buzz in the broader crypto market since its launch, let alone the meme coins space. Notably, the crypto, launched by Donald Trump, has gained immense traction from the market participants, especially amid soaring global interest in the crypto market.

Besides, former BitMEX CEO Arthur Hayes made a bold forecast recently, saying that the meme coin could surpass Bitcoin in crypto market dominance if certain conditions are met. However, many are deeming the current surge of the token to be in tandem with XRP’s price movements.

TRUMP Coin price soared more than 15% today and exchanged hands at $19.16, while its trading volume soared 24% to $2.45 billion. The $3.83 billion market cap asset saw a 24-hour high and low of $19.63 and $15.87, respectively.

On the other hand, XRP price jumped 13% to $2.75 with its one-day trading volume soaring 38% to $7.51 billion. It’s worth noting that the crypto has recently touched a 24-hour high of $2.76, a level last seen on February 4. Following that, the crypto has touched a low of $1.95 and $2.5 range.

Is TRUMP Coin Price Following XRP’s Trajectory?

As both these crypto recorded double-digit gains recently, a renowned pro-XRP lawyer has fueled speculations. For context, popular attorney Bill Morgan has recently highlighted the surge in TRUMP coin price and said “Odd. official Trump pushing up with XRP. Just coincidence.”

Although he referred to the incident as a mere “coincidence,” it has gained notable attention from market watchers. An X user lauded this comparison of Morgan saying “Well spotted. Interesting.”

Ripple & Donald Trump Tie Further Fuels Discussions

Although there is no real connection between the two assets, the double-digit gains in them at the same time have sparked discussions. In addition, rumors over Ripple and Donald Trump’s tie have further added fuel to the discussions recently.

Meanwhile, the rumors started after Donald Trump announced plans for a Crypto Strategic Reserve instead of a BTC Reserve. This has led many to speculate if the US administration would consider XRP as its reserve asset.

Additionally, rumors over Ripple CEO Brad Garlinghouse’s appointment to Trump’s crypto advisory board have also spared speculations. Having said that, the recent double-digit gains in the Trump Coin price and XRP have caught the eyes of the experts.

Analysts Hint At Further XRP Surge; TRUMP Coin To Follow Suit?

As XRP continued its upward momentum, a flurry of analysts have hinted towards further gains ahead. Considering that with Bill Morgan’s recent comment, many are speculating if the TRUMP Coin price will continue to follow Ripple’s native asset’s path ahead.

For instance, renowned analyst EGRAG CRYPTO said that if XRP records a “strong close above $2.75”, it could send the price to $2.94 next. Once this target is reached, the crypto is likely to target $3.22 and $3.40.

Echoing similar sentiment, another expert Ali Martinez said that “XRP is rebounding from the lower boundary of its channel”, while hinting at a potential rally to $3 next. Considering the current level of $2.75, a rally to $3 would indicate a surge of around 10%.

So, if the TRUMP Coin price follows the same trajectory, it appears that from the current level of $19.16, it could reach $21 soon. Besides, Martinez also shared a technical chart for the TRUMP meme coin highlighting a bullish trend for the asset. Sharing the price chart, the analyst stated “TRUMP is showing a strong rebound after the TD Sequential indicator flashed a buy signal on the 12-hour chart!”

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.