Brad Garlinghouse Reveals Discussions with Donald Trump to Include XRP in the United States' Strategic Reserve

Brad Garlinghouse, CEO of Ripple, recently revealed that he has held discussions with Donald Trump about the possibility of including XRP in the United States’ strategic reserve.

Brad Garlinghouse, CEO of Ripple, has had discussions with former U.S. President Donald Trump about including XRP in the country's strategic reserve, to diversify digital assets and reduce the sole reliance on Bitcoin.

During an interview with Yahoo Finance, Garlinghouse expressed his concerns over the mentality of those who support the exclusivity of a single asset, highlighting that restricting the ecosystem to only one cryptocurrency stifles growth. He emphasized the importance of cooperation among different projects to drive innovation in the industry.

“I own Bitcoin, I own Ethereum, I own XRP. I think there's room for multiple cryptocurrencies to succeed and thrive in the market. I'm not trying to take Bitcoin down; I'm trying to build something up. And I think the mentality of, ‘Oh, there can only be one,’ is destructive to the overall industry and certainly not beneficial to U.S.-based companies.”

The Ripple CEO's statement aligns with his previous stance on diversification, as he has stated that he believes in the value of different technologies and the harm caused by focusing on a single asset to the exclusion of others.

“I think it's really important for the U.S. to have a multi-cryptocurrency approach. We saw the administration talk about putting Bitcoin in the strategic reserves. I've had those conversations with the administration. They're interested in doing more there, and I think that would be a great next step.”

Garlinghouse also noted the evolving relationship between the crypto industry and Trump, who has shown a more open attitude toward innovation after being re-elected. According to Garlinghouse, this shift has created a more favorable environment for U.S. companies developing blockchain-based technologies.

“I think the relationship has changed over time. Coming out of the election, there was a lot of tension between the administration and the crypto industry. But I think the administration has realized the importance of this technology, and we've seen that in the executive orders and other actions.”

Despite Garlinghouse's statements, Ripple (XRP) has not performed as expected. While it has experienced highly successful months, news of this kind would typically have a significant impact on its price. However, Ripple is currently going through a period of extreme volatility and is trading lower. In the last 24 hours, the token has dropped 3.4%, falling to $3.07 per unit. Trading volume has also declined by 40%, barely surpassing $6.2 billion.

The market has yet to react to the discussions between Trump and Garlinghouse. Beyond words, investors likely expect concrete actions, much like what happened with Bitcoin reserves, which have yet to materialize. For now, XRP must navigate its own volatility challenges and await potential regulatory developments in the near future.