Does Donald Trump Hold XRP? Facts reveal the truth

Recently, some members of the XRP community have claimed that U.S. presidential candidate Donald Trump may hold a large amount of XRP tokens.

This comes after it was revealed that Trump has acquired a multi-million dollar crypto portfolio over the past few months.

According to Arkham Intelligence, as of Monday, May 27, Trump’s crypto wallet was worth more than $10.14 million.

The wallet was primarily boosted by TRUMP meme coin, his top holding, which performed well during yesterday’s bullish market activity.

Following the announcement, a user using the pseudonymous name “Matze XRP” posted a screenshot of an XRP wallet with “TrumpProductions” written on it, claiming that the Republican presidential candidate holds XRP.

According to the screenshot, the so-called Trump wallet was activated by “Coastline” on Sunday, May 26, with an initial balance of 33 XRP.

Donald Trump’s XRP Holdings Claims Questioned

Some community members have questioned that assertion. However, it is important to recognize that simply possessing a “TrumpProductions” wallet label is not proof of Donald Trump’s ownership. In fact, the name of an XRP wallet can be freely chosen by anyone.

This has been confirmed by prominent figures in the XRP community, including XRP ledger validator Vet. A similar situation arose earlier this month when claims emerged that Elon Musk was “testing” XRP payments on his social media platform X.

In response to the speculation, XRPL validators clarified that the labeling of accounts on the wallet service is completely informal, meaning that no verification is made of accounts named after public figures, including Donald Trump or Elon Musk.

Basically, this highlights that the names of public figures can be misleadingly associated with wallets for possible manipulative purposes.

Meanwhile, the XRPL developer community is actively working to address the problem of false identities. Vet has confirmed that the upcoming Decentralized Identifier (DID) amendment will address this issue.

Currently, the amendment has reached a consensus of 34.29% among validators, but a majority of 80% is required to be adopted.

Confirming Trump’s Crypto Holdings

Data from Arkham Intelligence shows that Donald Trump’s crypto holdings are primarily meme-based assets, often received as donations in support of his campaign. This is especially because he has reiterated several times that his administration would be cryptocurrency-friendly if elected president.

The former US President owns 579,000 TRUMP meme coins worth $6.9 million, and 464.3 Ether coins worth $1.8 million. He also holds more than $100,000 worth of other meme coins, including CONAN and BABYTRUMP.

Disclaimer: This content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not necessarily reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.