As the US presidential election approaches, backlash against founder Chris Larsen is growing among XRP investors. Larsen’s $10 million donation to Vice President Kamala Harris’ election campaign sparked widespread calls for a boycott in the crypto community. Investors state that this support creates concern for the future of the cryptocurrency industry, beyond political preferences.
Larsen’s Support for Harris Divides Community
With this large donation to Harris, XRP founder Chris Larsen provided a total of $11.8 million in support, exceeding his previous contribution of $1 million. However, this donation created discontent within the community. While regulatory uncertainties continue in the crypto market, Harris’ stance on crypto regulations is considered worrying by XRP supporters.
Former President Donald Trump’s pro-crypto statements made this divide even more evident. Famous investor Mike Alfred, one of the names critical of Larsen’s move, called for a boycott on Twitter, saying, “There is no excuse to support XRP anymore.”
Ripple 
$0.52492‘s CEO, Brad Garlinghouse, made a statement in response to these reactions. “I respect everyone’s right to support what they believe in,” Garlinghouse said. “But we must end the current administration’s misguided war on crypto,” he said, noting that Ripple maintains its relations with both political parties.
Community Reactions and Impact on Price Performance
XRP has been able to make limited progress in price performance due to years of SEC litigation. It has now fallen from its peak of $3.84 to approximately $0.52. Although experts predict that XRP may exceed $5 regardless of political events, it is stated that Larsen’s donation may have a negative impact on the XRP price. Investors are of the view that individual decisions, such as political support, affect the overall image of the company and the value of the token.
While this separation in the community and calls for boycott led to a loss of confidence among XRP investors, Ripple’s statement that it will follow a politically neutral line is seen as a step towards maintaining balance in the crypto market. However, while Larsen’s move increases uncertainty over the future of XRP, the divisions within the community are not expected to end anytime soon.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
