Ripple’s XRP Token Added to U.S. Strategic Cryptocurrency Reserve

This move, announced by President Donald Trump, aims to bolster the nation's position in the digital asset space.

The news that Ripple’s XRP token had been added to the U.S. strategic cryptocurrency reserve, alongside Bitcoin, Ethereum, Solana, and Cardano, was announced by President Donald Trump.

The administration’s decision to include XRP in the reserve led to a significant surge in the token’s value. Following the announcement, XRP prices jumped from $2.23 to $2.99, marking an increase of over 30%.

This development also triggered gains in other cryptocurrencies included in the reserve. Bitcoin, for instance, saw a 9% rise to $93,000, ultimately adding $166 billion to its market value.

The administration’s move to integrate cryptocurrencies into the U.S. financial system has been a subject of ongoing discussion. Earlier this year, President Trump prohibited the Federal Reserve from developing a digital dollar and hinted at future tariffs on imports from Mexico, Canada, and China.

Moreover, the White House is set to host its first Cryptocurrency Summit on March 7, an event that will bring together industry leaders to discuss regulatory policies and the future of digital assets in the U.S. financial system.

Investors are hopeful that the summit will provide clarity and potentially introduce legislation that could further stabilize and legitimize the cryptocurrency market.

XRP’s 30-Day Performance

According to the latest price predictions by crypto analysts, XRP is expected to reach $2.43 by mid-March.

Furthermore, technical indicators show a neutral sentiment towards XRP, while the Fear & Greed Index stands at 33, indicating fear.

Over the past 30 days, XRP has recorded gains on 47% of the days, with a price volatility of 7.23%.

However, some experts like Kartik Ayer, a recognized figure in the field of cryptocurrency, have expressed concerns regarding the establishment of a national crypto reserve.

Ayer highlighted the extreme volatility of cryptocurrencies, posing a risk to the dollar’s global value. He questioned the funding sources for such a reserve and its implications for federal debt repayment.

Despite these concerns, the recent developments have undoubtedly boosted confidence in the crypto market. The inclusion of XRP in the national reserve signifies a growing acceptance and integration of digital assets into mainstream financial strategies.

As March unfolds, all eyes will be on the upcoming summit and its potential to shape the future of cryptocurrencies like XRP.