XRP Excluded From President Trump's Executive Order for a Bitcoin Strategic Reserve

XRP, the digital currency tied to Ripple, has found itself at the center of this conversation, with Ripple CEO Brad Garlinghouse offering details into why XRP was not specifically named in President Trump's executive order for the U.S. digital asset stockpile.

The future of cryptocurrency in the United States has been a topic of increasing interest, especially with recent executive orders and the ongoing challenges faced by various crypto assets, such as XRP, are being discussed.

President Trump had named both Bitcoin and XRP in a post on Truth Social. The former president discussed the creation of a Bitcoin strategic reserve and a broader crypto stockpile that would include other assets like XRP. However, XRP was not specifically named in the executive order itself, which focused on the U.S. digital asset stockpile.

“XRP was named by President Trump in a post on Truth Social, which is his social media platform, and I think he's planning to do a Bitcoin strategic reserve and then a broader crypto stockpile, which will include XRP, in an executive order,” Trump wrote on Wednesday.

During a recent discussion with Bloomberg, Ripple CEO Brad Garlinghouse shed light on why XRP was not specifically named in President Trump’s executive order for the U.S. digital asset stockpile.

“I don't know what specifically was in the executive order, but my understanding is there's going to be a Bitcoin strategic reserve, and there will be a crypto stockpile representing other cryptos. I would expect that XRP will be included,” Garlinghouse said.

The Ripple executive also expressed his confidence in the growing momentum of crypto exchange-traded funds in the U.S., where major firms are filing for Bitcoin ETFs with the SEC.

“My understanding is there are currently 11 filings pending with the S.E.C. for E.T.F.s, and the major firms that are applying include Bitwise and Franklin Templeton. I think those will be live in the second half of this year,” Garlinghouse noted.

Despite some outflows from crypto E.T.F.s, Garlinghouse highlighted the significant inflows into XRP, which he attributes to the “false negative pressure” caused by the S.E.C.’s past actions against Ripple.

“There's a kind of exhaustion from the market with the S.E.C.'s actions, and it's starting to reverse. You can see that in the E.T.F. filings and in the crypto E.T.F. outflows, while there are massive outflows from equities. So there's a broader economic factor and then some of the S.E.C.'s actions have created this pressure.”