Ivanka Trump has addressed rumors of association with a meme coin bearing her name, firmly denying any involvement. 

The President’s daughter has also issued a warning to investors, urging them to avoid the coin and remain cautious of potential scams.

Ivanka Trump Addresses IVANKA Meme Coin

In a recent statement, Ivanka Trump refuted rumors of her involvement with the IVANKA meme coin. The businesswoman took to X (formerly Twitter) to clear the air.

“It has come to my attention that a fake crypto coin called “Ivanka Trump” or “$IVANKA” is being promoted without my consent or approval. To be clear: I have no involvement with this coin,” the post read.

She further warned that the coin poses a risk to unsuspecting consumers, potentially defrauding them of their hard-earned money. She criticized the unauthorized use of her name and likeness as a violation of her rights. 

“This promotion is deceptive, exploitative, and unacceptable. My legal team is reviewing and will be pursuing measures to stop the continued misuse of my name,” she added.

Notably, multiple fake IVANKA coins are available for trading in the market right now.

Meanwhile, Ivanka Trump is not the first member of the Trump family to be linked to unauthorized cryptocurrency ventures. In July 2024, a meme coin featuring Barron Trump’s name and image was launched. 

Neither Barron Trump nor any other member of the Trump family has publicly acknowledged any association with the token.

TRUMP and MELANIA Lose Momentum

This follows the launch of President’s Official Trump (TRUMP) and Melania (MELANIA) meme coins. Both coins skyrocketed in value post-launch before shedding their gains.

TRUMP has dropped 6.3% in the past 24 hours, trading at $34.5 at the time of writing. This represents a decline of more than 50% from its all-time high. Similarly, MELANIA has dropped 4.8% in the last day, with a press time value of $2.76—down a staggering 79% from its peak price.

Despite being officially endorsed, the TRUMP meme coin has not been immune to scams. As previously reported by BeInCrypto, scammers capitalized on the hype surrounding TRUMP, resulting in $857 million in stolen funds within the past week alone.

The rise of Trump-themed meme coins has also led to regulatory scrutiny. Senator Elizabeth Warren and Representative Jake Auchincloss recently sent a letter raising serious concerns about the TRUMP and MELANIA coins, calling for stricter rules to oversee such assets.

This follows an earlier letter from US Representative Gerald Connolly. In it, Connolly pushed for an investigation into President Trump’s possible connections to cryptocurrency projects and any related conflicts of interest.

Morgan Stanley is taking a proactive approach to the growing crypto market. The bank apparently plans to work closely with the US Treasury and other regulatory bodies to ensure it can offer crypto services.

In a recent CNBC interview, Morgan Stanley CEO Ted Pick shared his thoughts on the current state of crypto under the Trump administration and the bank’s crypto plans.

Morgan Stanley Plans Crypto Services, Focuses on Regulatory Compliance

Pick addressed the broader implications of the surge in crypto activity, including the rise of speculative assets. When asked about the new TRUMP and MELANIA meme coins, he pointed to the increasing liquidity in the crypto markets.

“Well, I think there is liquidity and the liquidity, you know, express itself in all kinds of different ways. I think the broader question is whether some of this has come of age, whether it’s hit escape velocity,” Pick said.

Pick seems to suggest that the longevity of these coins will ultimately determine whether they’ve reached “escape velocity.” In other words, Pick is cautious but open to the idea that crypto could evolve into a stable part of the financial system.

“Time is the friend,” Pick added. He emphasized that as cryptocurrencies continue to trade and gain mainstream attention, their value will become clearer.

For established financial institutions like Morgan Stanley, Pick highlighted that their main concern revolves around operating within the regulations.

“For us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors. We’ll be working with Treasury and the other regulators to figure out how we can offer that in a safe way,” Pick explained.

Morgan Stanley’s crypto plans were considered massively bullish by the crypto community, with many voicing their thoughts on X. One user even said, “This move cements crypto’s place in the global financial system.”

It was reported earlier this month that E-Trade, Morgan Stanley’s online brokerage division, is considering offering crypto trading services. However, this plan is still in the exploratory stage.

Also, the CEO of Goldman Sachs has previously said that the investment bank is open to engaging with cryptocurrencies. However, this is possible only if the regulatory environment changes. At present, banks like Goldman Sachs are not allowed to own or engage principally with Bitcoin.

Moreover, Ted Pick’s comments come at a pivotal time for the crypto market. Under the Trump administration, there has been a noticeable shift in attitudes toward digital currencies. Trump has also signed an official executive order to create a “national digital asset stockpile.”

XRP recently attempted to form a new all-time high (ATH) of $3.40 but failed, retreating to its current price of $3.15. This drop comes amid mounting bearish momentum on the charts.

Investors have further worsened the situation, with declining participation adding pressure to the altcoin’s performance.

XRP Is Facing Pressure

The Price Daily Active Addresses (DAA) Divergence is flashing a clear sell signal, reflecting a decline in investor activity on the XRP network. The reduced transaction volume is a cause for concern, as it highlights diminishing confidence in the altcoin. The presence of red bars on the DAA Divergence indicates a strong sell signal, warning investors of potential price drops.

If investors continue to pull back from network activity, XRP’s price could face increased selling pressure. The lack of strong transactional engagement weakens support levels, making the altcoin vulnerable to sharp corrections. Without renewed interest from participants, XRP’s recovery may remain limited in the short term.

XRP’s macro momentum is signaling further downside risks. The Moving Average Convergence Divergence (MACD) is on the verge of a bearish crossover. This technical indicator suggests that selling momentum is overtaking buying pressure, raising concerns among traders.

Additionally, the histogram bars on the MACD are receding. A drop below the zero line would confirm that bearish momentum has firmly taken hold. This aligns with the broader market trend, which remains uncertain, compounding the challenges for XRP’s price action.

XRP Price Prediction: Breaking Highs

XRP is trading at $3.15 after reaching its ATH of $3.40 earlier this month. Despite several attempts to sustain a rally, the altcoin is struggling to maintain upward momentum. Bearish sentiment and declining investor activity continue to weigh on its price trajectory.

If the bearish factors persist, XRP could decline to its critical support level of $2.73, marking a 13% correction. Failure to hold this support could lead to further losses, potentially pushing the price down to $2.18. Such a drop would erase recent gains, reinforcing the bearish outlook.

On the flip side, if XRP manages to secure $2.73 as a strong support, it could regain its footing. A bounce from this level might enable the altcoin to breach the $3.40 ATH barrier. If successful, XRP could form new highs, effectively invalidating the bearish scenario and reigniting investor confidence.