Coinbase CEO Brian Armstrong Comments on US President Donald Trump's Plan to Establish a Crypto Reserve

Trump's social media announcements about crypto reserves triggered a rally in the crypto market on Sunday. However, XRPUSD is undergoing a bearish correction

Coinbase CEO Brian Armstrong has shared his input on US President Donald Trump’s recent plan to establish a crypto reserve. In a recent post on X, Armstrong discussed the pros and cons of including ether (ETH), SOL, XRP, and ADA alongside bitcoin (BTC) in a “Crypto Strategic Reserve.”

President Trump’s recent social media announcements about crypto reserves helped to spark a rally in the crypto market on Sunday. However, XRPUSD is now displaying bearish correction on the H1 chart today. The cryptocurrency appears to be forming a double bottom at a flipped support level, where buyers could return to place bids.

Coinbase CEO Favors Bitcoin in Reserve

Suggesting that limiting the reserve to bitcoin would be the simplest approach, Armstrong stated:

“Just Bitcoin would probably be the best option — simplest, and clear story as successor to gold. If folks wanted more variety, you could do a market cap-weighted index of crypto assets to keep it unbiased. But probably option #1 is easiest.”

This comment follows President Trump's recent proposal for a U.S. crypto reserve, suggesting a basket of the top five cryptocurrencies. In a post on Sunday, Trump discussed the possibilities of including ether (ETH), SOL, XRP, and ADA alongside bitcoin (BTC) in a “Crypto Strategic Reserve.”

“We could include the top 5 market cap cryptocurrencies in a basket and put it in a U.S. Crypto Strategic Reserve. Something like Bitcoin, Ethereum, ADA, XRP, and SOL. We could fund it in a manner similar to how we fund the military, and we could put it to use to help reduce the national debt and create economic opportunities for the American people. They’ve been robbed by other countries in trade deals for years. Time to get smart!

It would be interesting to see what people think about this. We could easily put this together with Congress. Let’s go!”

However, BitMEX co-founder Arthur Hayes expressed skepticism about the proposal. He argued that the announcement is "just words" without congressional approval or funding to purchase digital assets.

“Like some bizarre, time-traveling fever dream, former President Trump has once again descended into the political arena, this time to share his thoughts on the creation of a U.S. crypto reserve. Unlike the figment of some programmer's imagination, this isn't a deepfake. It’s real, and it’s as baffling as a dream sequence in a surrealist film.

Now, I’m not one for conspiracies, but I must admit, this whole crypto reserve idea seems like a bit of a distraction. Perhaps they're trying to divert attention from the fact that Congress never approved the plan and there’s no obvious funding source for buying up digital assets. After all, we’re talking trillions of dollars here, which isn't exactly loose change in anyone's pocket.

But let’s face it, even if they did have the approval and the funds, which I highly doubt, the logistics of carrying out such a plan are mind-boggling. How exactly do you siphon off a portion of the U.S. Treasury reserves, which are already encumbered by the national debt, to purchase crypto? And who decides on the allocation of these assets? It’s a recipe for endless bickering and bureaucracy.

In the meantime, the crypto market is left to speculate and chart the course of this bizarre crypto saga. It's like watching a foreign film with subtitles that keep changing mid-sentence. And as for President Trump's take on the matter, well, let's just say it's an interesting perspective to consider. But ultimately, only time will tell if any of this comes to pass.”

President Trump's announcement highlights the ongoing discussions and possibilities around digital assets in the U.S. However, the feasibility and implementation of this plan remain uncertain.

XRPUSD Faces Key Support at 2.57000

The XRPUSD H1 chart shows a strong bullish move followed by rejection around $3.00000, forming a double top. Afterward, the price moved lower, bouncing at 2.57000. Now, the price seems to have reached support at this level and may form a double bottom. If this pattern develops, buyers could return from here to push the price higher.

However, if the price breaks below 2.57000, sellers may continue pushing the price down. In that case, a bullish trend line will be an important level to watch closely. A break below this trend line could indicate further bearish momentum.