The Bitcoin and XRP News Today as the Price of Bitcoin and XRP Prepares to Hit New All-Time Highs

The Bitcoin price, back above $105,000 per Bitcoin, has more than doubled in the past year, pushing the total cryptocurrency market

Bitcoin price today soared 5% overnight to $105,456, according to the Bitcoin Liquid Index. The rally comes as traders grow optimistic about Donald Trump’s proposed U.S. Strategic Bitcoin reserve, now seen as a near certainty. This is reflected in the rising odds on the betting site Polymarket. The odds that the U.S. will create a National Bitcoin Reserve have climbed to 62%, up 20% this week.

Related: Bitcoin Price Analysis: BTC/USD Set to Test $110K Resistance as Trump Pro-Crypto Agenda Commences

The odds that the U.S. will create a National Bitcoin Reserve are climbing fast. Source: Polymarket

XRP to Lead America-First Crypto Strategic Reserve?

Leaked reports this week also suggest that the Trump administration may expand its crypto reserve plans, emphasizing U.S.-developed cryptocurrencies such as Ripple’s XRP and Solana. This “America-first strategic reserve” would reportedly back Solana, a blockchain rival to Ethereum; USDC, a stablecoin issued by Circle and supported by Coinbase; and XRP, created by Ripple to streamline cross-border payments.

The New York Post, and Forbes citing anonymous sources, claimed Trump is “receptive” to the idea following discussions with Ripple CEO Brad Garlinghouse and Coinbase CEO Brian Armstrong. Source: Forbes, NYP

Earlier this month, Circle CEO Jeremy Allaire revealed on X that the company had contributed $1 million worth of USDC to Trump’s inaugural committee, joining other firms seeking favor with the incoming administration.

Meanwhile, Ripple’s XRP has skyrocketed 500% since Trump’s November election win, fueled by hopes that the administration will ease regulatory pressures on the company. Google Searches for XRP have skyrocketed past Bitcoin as retail investors flock to buy XRP.

Google Searches for XRP have surpassed Bitcoin for the first time, Source: Google Trends

This week’s rumors that XRP will be added to an American Crypto Reserve pushed the price even higher, before a period of profit-taking today.

XRP is down 3% in 24 hours, but up an astonishing 498% over the last 90 days. Source: Coinmarketcap

“Compared to other cryptocurrencies, XRP has shown phenomenal strength,” said Jason Jones, an analyst at Brave New Coin, adding that while others have experienced pullbacks, “XRP has been on an absolute tear and now appears ready to surpass its all-time high.”

Regulatory Environment Will Favor Ripple’s XRP Under Trump

The recent regulatory landscape for cryptocurrencies has been turbulent, shaped by aggressive enforcement under SEC Chair Gary Gensler. Gensler’s tenure has been defined by stringent actions, including high-profile cases such as the SEC Vs Ripple, creating an uncertain environment for digital assets.

With Donald Trump’s election victory, however, the crypto world anticipates a significant shift toward a more favorable regulatory climate. Trump’s appointment of Paul Atkins, known for his crypto-friendly stance, as the new SEC Chair signals a potential easing of regulatory burdens. Atkins is expected to push for clearer guidelines and policies that foster innovation, potentially providing a significant boost for Ripple’s XRP and other crypto entities.

What to Expect From Trump’s Pro-Crypto Agenda

President Trump has pledged bold action to reshape crypto regulations, with promises of Executive Orders aimed at making the sector a priority for innovation. Highlights of his agenda include:

XRP’s Primary Use Case: A Double-Edged Sword

To understand why the future is so bright for Ripple and XRP, it is important to understand the background. Every year, banks and financial institutions spend hundreds of billions of dollars on fees for transferring funds globally, often waiting days for transactions to settle. It is an antiquated system crying out for innovation, and XRP was designed to fill that gap.

XRP facilitates fast, secure transactions between financial institutions at a fraction of the cost of traditional methods. While Bitcoin is sometimes proposed as an alternative, XRP outshines it in this context: Bitcoin is slower, more expensive, and lacks scalability. The XRP network processes thousands of transactions per second compared to Bitcoin’s meager seven.

Thanks to these advantages, XRP has gained real-world traction. Its underlying network, RippleNet, is used by financial institutions worldwide. Considering legacy systems cost banks $193 billion in fees last year, the potential for disruption is enormous. If XRP captures a significant market share, the network fees alone could be substantial. Moreover, banks transacting on RippleNet would need to buy and hold XRP, creating a supply crunch and potentially boosting its value further.

Is There a Crack in this Narrative?

Look, we get it, the pitch is compelling, which is why Ripple and XRP are generating so much buzz. However, a closer look reveals some significant flaws in these assumptions.

While XRP’s design and use case position it as a potential disruptor in the financial sector