Trump Suddenly Issues a Statement About the US Crypto Reserve: XRP is the New Standard

On the weekend night of March 2, the crypto market was wailing, and Trump suddenly issued a statement about the US Crypto Reserve: "The US Crypto Reserve

On the weekend night of March 2, the crypto market was wailing, and Trump suddenly issued a statement about the US Crypto Reserve: "The US Crypto Reserve will enhance the status of this critical industry, although it has suffered years of corrupt attacks during the Biden administration. That's why my digital asset executive order directs the Presidential Task Force to advance a strategic crypto reserve containing XRP, SOL, and ADA. I will ensure that the United States becomes the crypto capital of the world. We are making America great again!"

Subsequently, the crypto market was immediately boosted, which can be described as "one arrow piercing the clouds, thousands of troops came to meet." Although BitMEX co-founder Arthur Hayes commented that "there is nothing new", this does not prevent us from understanding XRP and the business model of Ripple behind it. XRP ushered in a 30%+ increase after the news came out.

Therefore, this article will preliminarily explain what Ripple and XRP are, the relationship between them, and how they work in Web2 and Web3. This project that combines the business models of Web2 and Web3 is worth learning from the industry, especially in the context of Crypto Mass Adoption that everyone is talking about. Many things that are put into practice still need to be promoted through the model of Web2, while combining the advantages of Web3 in the ecological network.

1. RippleLabs – a financial technology company

Ripple is a US-based financial technology company, also known as Ripple Labs, which focuses on providing cross-border payment and financial settlement solutions based on blockchain technology. Its core goal is to optimize the international remittance process in the traditional financial system through blockchain technology, increase the speed and reduce the cost of global financial transactions. Ripple's main products and services include (i) cross-border payments and remittances through RippleNet, and (ii) the recently launched RLUSD stablecoin.

The blockchain-based technology mentioned above is the XRP Ledger network ledger that Ripple's technology and services mainly rely on. This is an independent distributed ledger technology (DLT) used to record and verify transactions, and XRP is the original utility token running on this ledger. It is seen as an alternative to the SWIFT payment network used by traditional financial institutions.

XRP Ledger or XRPL is a payments-focused blockchain network developed by Ripple in 2012 that enables financial institutions and payment providers to offer innovative financial services, including custodial services, digital crypto wallets and other decentralized applications (DApps).

After the initial release of the XRP Ledger, Ripple focused on helping financial institutions process cross-border remittances and payments through blockchain distributed ledger technology. In addition to the XRP Ledger and XRP native tokens, Ripple has developed various cross-border payment products over time. Since these developments, the team has integrated them all into a top-level service called RippleNet.

1. provides financial institutions with the ability to use blockchain technology to process cross-border payments. It aims to establish a unified global payment system. In traditional finance, there are various financial institutions that have established separate transfer systems to perform international payments. These systems do not interact well with each other, and making international payments through the above systems is expensive and time-consuming.

2. is a private enterprise-level solution that mainly solves the efficiency problems of the traditional financial system.

3. is a service that provides fast and low-cost cross-border payment solutions to customers.

In the interview, the interviewer asked the host about the possibility of the U.S. government launching its own crypto reserve. The host responded that it is a crucial step in bolstering the crypto industry, which has faced corrupt attacks during the Biden administration. He further stated that his digital asset executive order directs the Presidential Task Force to advance a strategic crypto reserve, focusing on XRP, SOL, and ADA.

The host also expressed his commitment to ensuring that the United States becomes the crypto capital of the world, adding that they are "making America great again!"

Following this statement, the crypto market experienced a surge, with XRP leading the gains, rising over 30% within hours of the news. This surge can be attributed to the anticipation of the U.S. government's involvement in the crypto market, which is expected to bring stability and legitimacy to the industry.

However, BitMEX co-founder Arthur Hayes had a different perspective, arguing that there is nothing new in Trump's statement. He pointed out that the former president's plans to launch a U.S. crypto reserve and appoint a "crypto czar" were announced as early as last year.

Despite this, Trump's statement has sparked interest and discussion in the crypto community, highlighting the ongoing debate about the role of government in the emerging digital asset sector. As the industry continues to evolve, it remains to be seen what impact, if any, Trump's plans will have on the crypto ecosystem.

output: On the weekend night of March 2, the crypto market was wailing, and