The cryptocurrency market is buzzing once again, and XRP, the native token of the XRP Ledger, is stealing the spotlight.

As of today, March 12, 2025, XRP's price is climbing, leaving investors and traders asking: Why is XRP price going up today?

Cryptocurrency prices are in a state of flux once again, with some of the major tokens showing surprising resilience in the face of adversity. As of March 12, XRP is trading at the $2.24 level, continuing to recover sharply from the local support zone near the psychological level of $2.

This marks the continuation of an almost 8% bounce from Tuesday when, after testing its lowest levels since February and dropping to $1.89, the cryptocurrency staged a noticeable recovery. Afterward, it managed to rise to $2.1 by the early Asian session on Wednesday.

For the past three months, the lower boundary of the support level has been defended, along with the 200 EMA, which separates the long-term bull trend from the bear trend. Afterward, the price fell into the Fibonacci 38.2 retracement of the December 2024 low to March 2025 high move.

Over the last 24 hours, XRP has been one of the top gainers, rising 2.6%, according to CoinMarketCap data. Alongside XRP, Bitcoin is up 1.6%, and BNB has gained 1.9%, while Ethereum is down 1.5%, and Tron has recorded declines of 3.7%.

Why Is XRP Rising?

The cryptocurrency market has seen a volatile start to March, with pessimistic outlooks on the U.S.-Canada trade war and a $300 billion crypto market wipeout. However, President Donald Trump’s announcement of pausing the tariff hike has eased tensions and boosted demand for riskier investments.

This follows through on his earlier statement on March 2 about potentially adding XRP, Solana, Cardano, and other major tokens to the U.S. strategic reserve.

"Deeming it advisable for the United States to hold a multi-currency strategic reserve in addition to the U.S. dollar, and to include Bitcoin, and perhaps other cryptocurrencies such as XRP, Solana, Cardano, and others in such a reserve."

Earlier this year, Trump signed an executive order to prioritize Bitcoin in the reserve, but the door remains open for other tokens like XRP to be included, especially with Lummis’s influence in the Senate.

However, the possibility of a multi-currency reserve is still remote, and any inclusion of XRP would require approval from the U.S. Congress. Nonetheless, the speculation has contributed to XRP's price increase.

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