What’s Happening With XRP’s Price?

INDIA - 2023/12/23: In this photo illustration, the XRP crypto coin logo seen displayed on a mobile ... [+] phone screen with stock market percentages in the background. (Photo Illustration by Idrees Abbas/SOPA Images/LightRocket via Getty Images)
SOPA Images/LightRocket via Getty Images
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Last week, our discussion covered XRP’s price decline and potential catalysts for recovery. While we mentioned the Bitcoin strategic reserve, it appears the U.S. government plans to establish a much broader cryptocurrency portfolio beyond just Bitcoin. President Trump recently revealed on his Truth Social platform that his cryptocurrency strategic reserve will encompass BTC, ETH, XRP, SOL, and ADA. This presidential announcement sparked significant market movement across the cryptocurrency sector. Bitcoin appreciated approximately 10% to exceed $94,600, Ethereum climbed 15% to $2,530, Solana jumped 25% to $178, and XRP experienced the most dramatic increase, surging over 33% to reach $2.90. Separately, see – Eli Lilly Stock: Should You Buy After A 20% Rise?
Governments maintain strategic reserves of vital resources for national security, economic stability, and stockpiles, like the U.S. Strategic Petroleum Reserve or central bank foreign exchange reserves, ensure supply during crises and stabilize prices. A cryptocurrency strategic reserve would function similarly, involving government acquisition of digital assets to manage markets, prepare for financial emergencies, or establish digital economic sovereignty.
While the recent announcement has benefited all five cryptocurrencies mentioned by the president, XRP has demonstrated the strongest performance. Among various factors potentially supporting its long-term upward momentum, the most significant would be a positive update on its legal dispute with the SEC. Our earlier take on – What’s Driving The XRP Rally? – has more details. Any favorable developments regarding XRP makes investors wonder if Ripple is progressing toward overcoming its regulatory challenges. While Mark Uyeda is the acting chair of the SEC, a crypto-friendly figure - Paul Atkins - is expected to assume that position, potentially creating a positive environment for cryptocurrencies broadly, particularly XRP.
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