XRP News: Lawyer Suggests U.S.-Canada Trade War Could Benefit Ripple Amid Mark Carney’s Leadership
Key Takeaways:
- A renowned legal expert believes the escalating U.S.-Canada trade war could be bullish for Ripple.
- Mark Carney’s appointment as Canada’s new Prime Minister brings potential advantages for Ripple and XRP Ledger (XRPL).
- XRP price dropped 4% today amid a broader market downturn.
How the U.S.-Canada Trade Dispute Could Favor Ripple
The ongoing trade tensions between the U.S. and Canada have been drawing attention across financial markets. However, in a surprising twist, some analysts believe these developments could positively impact Ripple and its XRP ecosystem.
Following Mark Carney’s appointment as Canada’s 24th Prime Minister, legal expert Fred Rispoli pointed out that Carney’s background in financial innovation, particularly his past collaboration with Ripple, could signal a bullish outlook for the blockchain company.
Carney’s Stance on the Trade War and Ripple’s Role
Carney has wasted no time in addressing the rising trade tensions, directly blaming Donald Trump for imposing tariffs that he claims harm Canadian businesses and workers.
“Trump is trying to weaken our economy. He has imposed unjustified tariffs on our goods, affecting our businesses and families. We will not let him succeed,” Carney stated.
His strong stance against Trump suggests a possible shift in Canada’s economic policies, which could lead to an extended trade dispute between the two nations. Influencer Ed Krassenstein reacted to Carney’s statement, commenting that “Trump is in for a long ride.”
Why Carney’s Leadership Could Benefit Ripple
Legal analyst Fred Rispoli explained that Carney’s history with Ripple could influence Canada’s financial policies in favor of blockchain technology.
“When running the Bank of England, he did a collaboration with Ripple,” Rispoli noted.
During his tenure as Governor of the Bank of England (2008-2020), Carney actively supported financial innovation. In 2017, the Bank of England partnered with Ripple for a pilot project aimed at improving cross-border payments by enhancing settlement efficiency and transaction speed.
Carney has consistently advocated for blockchain and fintech adoption, pushing the Bank of England to explore Distributed Ledger Technology (DLT) as part of its financial modernization efforts. His involvement with Ripple Connect and the Interledger Protocol further solidified his role in promoting blockchain-driven financial solutions.
What This Means for XRP and Blockchain Adoption in Canada
With Carney now leading Canada, his pro-blockchain stance could potentially shape new regulatory frameworks that encourage institutional adoption of Ripple’s technology.
Additionally, his tense relationship with Trump might push Canada to explore alternative payment solutions, further increasing the relevance of XRP Ledger (XRPL) in the country’s financial infrastructure.
XRP Market Performance Amid Trade War Speculations
Despite these promising developments, XRP’s price has dropped 4% today, currently trading at $2.17. However, its trading volume surged by 150%, reaching $7.8 billion, indicating strong market activity.
Over the past 24 hours:
- XRP’s highest price: $2.26
- XRP’s lowest price: $2.09
- XRP Futures Open Interest fell by 7%, suggesting reduced risk appetite among investors.
Despite the short-term price dip, market sentiment around XRP remains optimistic. Investors are closely watching:
- Progress in the Ripple vs. SEC lawsuit
- Speculation surrounding an XRP ETF in the U.S.
- Donald Trump’s recent mention of Ripple’s native asset
With these factors in play, analysts believe XRP could see a strong recovery in the coming months, depending on regulatory and economic developments.
