XRP shoots to the moon, despite Ripple-friendly lawyer losing Senate seat

XRP rallied strongly even though a crypto-friendly lawyer lost a seat in the U.S. Senate. The cryptocurrency industry’s appetite for risk spurred XRP’s positive momentum.

XRP rose 5% from its lowest point of the month to an intraday high of $0.55 on November 5, However, it is still in a local bear market, though, having fallen more than 20% from its October peak.

The Massachusetts Senate seat was won by Democrat Senator Elizabeth Warren who defeated Ripple-friendly Republican John Deaton by a significant majority.
Election data from the Associated Press, revealed Warren, the most well-known crypto opponent in US politics, received 74% of the approximately 145,000 votes that have been tabulated thus far.

Deaton was viewed as a longshot against Warren, who has served in the US Senate since 2013 and had a 20–30 percentage point lead in most of the polls.
Renowned cryptocurrency attorney Deaton supported holders of XRP tokens during Ripple’s protracted legal dispute with the Securities and Exchange Commission.

Prominent individuals in the cryptocurrency sector strongly backed Deaton, who raised $2 million from Ripple and Gemini co-founders Tyler and Cameron Winklevoss.

Warren’s third term in the US Senate officially began with her victory. With Kamala Harris securing 11 electoral college votes, the Associated Press has also declared a Democratic victory in Massachusetts.