XRP Gains Attention as Musk's D.O.G.E Eyes the SEC
Market analysts suggest that recent scrutiny of the U.S. Securities and Exchange Commission may bolster cryptocurrencies like XRP.
Key Details:
- A recent initiative led by Musk’s D.O.G.E aims to investigate potential misconduct within the SEC, which may be beneficial for tokens like XRP.
- The newly established X account for D.O.G.E has encouraged public participation to uncover waste, fraud, and abuse related to the SEC.
Public Appeal:
“DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud and abuse relating to the Securities and Exchange Commission.”
— DOGE SEC (@DOGE_SEC) February 17, 2025
This announcement has generated speculation among XRP enthusiasts who believe that it could erode the SEC’s strength in their ongoing appeal against Ripple, thereby positively impacting XRP’s market value.
D.O.G.E. is a new, unofficial agency established by Musk aimed at reducing regulations and waste within federal agencies, inspired by the cryptocurrency Dogecoin (DOGE). The SEC has taken a firm stance against cryptocurrencies under the current administration but appears to be adjusting with recent political changes.
XRP’s prices fell by 1.4% recently, slightly improving compared to Bitcoin’s 2% and the wider market’s 2.5% decline.
