Ripple-Linked XRP Lobbyist Behind Truth Social Post Purged from White House
Analysis
Price Impact
MedThe initial endorsement caused a price spike. however, clarification that the u.s. government would establish a bitcoin-only strategic reserve caused uncertainty.
Trustworthiness
MedThe news originates from a reputable source (politico) and is corroborated by u.today's reporting. however, the situation involves conflicting information and potential misinformation.
Price Direction
NeutralInitial spike might be offset by later clarification and white house action. the long-term impact is uncertain, making the direction neutral.
Time Effect
ShortImmediate price reaction to the news, but long-term effects are unclear and depend on further developments and clarification.
Original Article:
Article Content:
Cover image via www.freepik.com Read U.TODAY on Google News According to a Thursday report by Politico, the viral Truth Social post that mentioned XRP and several other altcoins was actually written by an employee of Brian Ballard's lobbying firm. Advertisement The highly influential lobbyist has now been purged from the White House following the incident, the report says. The copy of the infamous post, which announced "Crypto Strategic Reserve," was repeatedly pitched to promote the industry. HOT Stories Ripple-Linked XRP Lobbyist Behind Truth Social Post Purged from White House Breaking: Ripple Settlement Agreement Filed by SEC Breaking: Major Stablecoin Bill Fails to Advance in US Senate Breaking: Bitcoin Hits $100,000. Is $200,000 Possible in 2025? The twist? Ripple Labs, the enterprise blockchain company linked to the controversial XRP token, is actually a client of Ballard Partners. This detail only came to light after the post mentioning XRP went live. Advertisement As reported by U.Today , the massive endorsement caused a significant spike in the price of the XRP token. However, it was later clarified that the U.S. government would establish a Bitcoin-only strategic reserve while other cryptocurrencies would be part of a murky "stockpile." You Might Also Like Tue, 05/06/2025 - 16:55 Ripple Reveals SEC's Request to Vacate Injunction in Lawsuit: Details By Tomiwabold Olajide Ripple moved to hire Ballard Partners back in November, according to lobbying disclosure records. Plenty of other companies, including banking giant JPMorgan and crypto exchange Kraken, also retained the firm since Ballard had the reputation of being the go-to lobbyist. However, the XRP-related lobbying trap backfired in a spectacular fashion, with the White House immediately moving to cut ties with Ballard. Officials were banned from having any meetings with the top whisperer, who previously boasted seemingly unfettered access to the administration. One top White House aide reportedly yelled at Ballard. Even though the White House was growing increasingly dissatisfied with Ballard, the Truth Social mentioning XRP was repeatedly the "tipping point," Politico says. #Ripple News #XRP News