On January 24, 2025, President Donald Trump signed an executive order to create a Presidential Working Group on Digital Asset Markets which will be headed by David Sacks, a venture capitalist. This newly announced body will act as an advisory committee on digital asset policies and cryptocurrencies for the President.
The order stresses the establishment of a strategic national digital assets reserve but does not specify which cryptos, hence, it can include XRP.
XRP Gains Attention as a Potential Reserve Asset
In the cryptocurrency space, there have been debates on whether XRP should be considered alongside Bitcoin as part of the U.S. crypto reserve. Specific mentions of XRP have been due to its American roots and the clear legal status.
Crypto analyst and podcaster Scott Melker also reported having been informed by reliable sources about the possibilities of XRP in the strategic reserve. This has therefore generated more curiosity and speculation.
The analyst added,
“Strong Rumor, don’t shoot the messenger but hearing it through reliable channels. The strategic stockpile they are discussing is $BTC and $XRP.”
Ripple Advocates for Diversified Crypto Reserve
Moreover, the Ripple CEO, Brad Garlinghouse, has been a proponent of the idea of having a diversified strategic crypto reserve. He believes that implementing different types of crypto technologies, including, but not limited to, Bitcoin, may be useful for the United States as it can exploit the advantages of each asset.
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According to Garlinghouse, the support for a large number of American-created cryptocurrencies is in line with Trump’s policies of American technology.
The Ripple CEO added, that the optimism has not been without its critics, especially within the Bitcoin fraternity. Pierre Rochard of Riot Platforms criticized Ripple for its lobbying activities.
However, Ripple CEO Brad was quick to deny the allegations stating,
“Our efforts are actually increasing the likelihood of a crypto strategic reserve (which includes Bitcoin) happening.”
As per Pierre, Ripple is attempting to sway the creation of the crypto reserve in favor of XRP. He notes that these efforts can pose a threat to the concept of the SBR by distracting the public and investment towards other digital currencies like the XRP.
Bitcoin And XRP Price Action
During the discourse of the news of Donald Trump’s crypto reserve directive, both Bitcoin and XRP portray a bullish trend. Bitcoin price has risen significantly and is now at $105,255 per coin, rising by 3.31% over the last one day.
Moreover, the market capitalization has also risen to $2.08 trillion with trading volume at $98.22 billion. The upward trajectory in this pattern is suggestive of the confidence of investors and strong market reaction to general economic signals particularly in the light of recent political and legal changes.
Likewise, XRP price has also surged significantly and is currently trading at $3.18, a 2.51% rise within the same timeframe. The market capitalization for XRP has continued to rise to stand at around $182.96b while the trading volume stands at $9.01b. This growth is even more impressive considering the legal gains XRP has made and the increasing adoption across various payment networks.
Source: https://www.thecoinrepublic.com/2025/01/24/will-xrp-join-bitcoin-in-trumps-us-strategic-crypto-reserve/