Ex-Ripple Director Says U.S. Federal Government Is Suppressing XRP Price, Proposes Solution

The former director accuses the U.S. federal government of suppressing XRP price as he encourages crypto fans to vote for Attorney Deaton in the upcoming Senate election.

For years, there have been a series of debates regarding whether the price of XRP is being suppressed. With several community members believing that XRP’s price has been suppressed for years, some people blamed Ripple for this suppression.

Experts like pro-XRP YouTuber Jerry Hall claimed that Ripple’s monthly XRP sales are responsible for the price suppression. It bears mentioning that Ripple sells hundreds of millions of XRP monthly to finance its operations.

Federal Government Suppresses XRP

In a startling development, Sean McBride, former director of Ripple’s Global Talent Acquisition, rekindled discussions regarding XRP suppression.

#BigTech and #WallStreet are slipping as #Crypto is soaring. Meanwhile heavyweight CEOs are dumping their own stock (many for the first time #JamieDimon). #BRICS is getting ahead. #XRP is being suppressed by the Federal Government. They are picking the winners and the losers,…

— Sean McBride (@seanmcbride16) February 28, 2024

However, he blamed the United States federal government for suppressing the price of XRP. Although McBride did not explain how the government suppresses the XRP price, his remark suggests that Ripple’s ongoing legal tussle with the SEC is being used to manipulate the coin.

Furthermore, McBride accused the government of picking winners and losers, specifically in crypto. Allegations about the government picking winners and losers have soared in the crypto community recently.

Critics argue that government agencies, like the SEC, give specific projects a free pass while others suffer regulatory scrutiny. A case in point was William Hinman, former director of SEC’s Corporation Finance, declaring ETH to be a non-security. Since Hinman declared ETH a non-security, the commission has given several tokens the security tag, including MATIC, SOL, and ADA.

Solution to Ending XRP Suppression

To combat the government’s alleged suppression of XRP, McBride urged the community to elect top crypto advocates, like Attorney John Deaton, into office.

Recall that Attorney Deaton recently declared his intentions to run against experienced lawmaker and Democrat Elizabeth Warren in the upcoming Senate election.

Notably, McBride stressed the significance of the upcoming United States election for the XRP community. He said the upcoming election is the most important poll in U.S. history.

He urged XRP holders to stand up against corruption, tyranny, and invasion as part of a broader effort to “Make America Great Again (MAGA).”

McBride believes that electing these crypto enthusiasts in the upcoming election will end the government’s continuous suppression of XRP and address other ills ravaging the crypto industry.

Notably, McBride is not the only Ripple exec who has thrown his weight behind Attorney Deaton ahead of the upcoming election. As reported earlier, Ripple CEO Brad Garlinghouse retweeted a post urging Attorney Deaton to run against Senator Warren.

McBride Shares Update About XRP ETF and Ripple IPO

Despite leaving Ripple, McBride has continued to show concern for XRP and the leading crypto payments company. Since the beginning of this month, McBride has been urging XRP enthusiasts to prepare for a significant development that will be unveiled soon.

In a follow-up post, he speculated that the community will see a spot-based XRP ETF this year or 2025. Furthermore, McBride expects Ripple to go public outside the U.S. by next year.

It remains to be seen whether McBride’s predictions for XRP and Ripple will come true.

Source