The political views of certain Ripple officials are another reason to despise the XRP coin, according to OmniSwapAi founder Joshua Jake.
Recall Friday's Crypto Basic story revealed that Ripple chairman Chris Larsen has backed incumbent VP Kamala Harris for U.S. president.
Larsen and 87 other finance industry executives signed a statement supporting Harris' presidential candidacy. The organization believed Harris might boost the U.S. economy and democracy.
Harris's major participation in the present administration, during which the crypto business has experienced regulatory barriers, including Ripple's legal fights, has brought varied emotions from the community.
Larsen's backing sparked controversy, with some disappointed that XRP's litigation prevented investors from profiting from the 2021 bull market.
Due of regulatory uncertainty, many crypto leaders support Donald Trump. Trump has pledged pro-crypto measures to make Bitcoin and crypto great if elected president.
Harris has not made pro-crypto commitments, but Ripple's chairman has supported her. The development prompted community pundit Joshua Jake to oppose Larsen's support. He sees that as another reason to avoid XRP.
He said that XRP investors suffered under the present government, notably during the long litigation that halted price growth.
Some community members have justified Larsen's political decision.
Community member Michael said that Ripple's leadership is attempting to be on both sides of the political aisle so that Ripple won't be disadvantaged by the November presidential election.
The fact that Stuart Alderoty, Ripple's top legal officer, supports Donald Trump strengthens this argument. He gave $300,000 in XRP tokens to Trump's campaign.
However, Ripple CEO Brad Garlinghouse has not officially declared his presidential preference. Since Kamala Harris has been neutral on crypto, he advised the crypto community not to prejudge her in July.
In the same month, he praised Trump's running mate, Senator James Vance, for criticizing the SEC Chairman's crypto regulatory bias.
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