Trump’s U.S. Crypto Reserve Sparks Debate

Donald Trump’s recent announcement of a U.S. strategic crypto reserve has sparked intense debate, particularly over Ripple’s XRP inclusion.

While Bitcoin’s selection was widely expected, XRP’s role has drawn scrutiny from critics like Peter Schiff, a Bitcoin skeptic who questioned the rationale behind including XRP in the reserve. He stated:
> “I get the rationale for a Bitcoin reserve… But what’s the rationale for an XRP reserve?”

Charles Hoskinson Defends XRP

In a surprising turn, Cardano founder Charles Hoskinson, despite past tensions with the XRP community, defended XRP’s place in the initiative, praising its technology. He said:
> “XRP is great technology, a global standard, has survived many harsh cycles, and has one of the strongest communities.”

Hoskinson’s support shocked many, especially given his earlier criticism of XRP and interactions with its community. In 2022, he suggested XRP should be regulated as a commodity, sparking backlash. In 2023, he labeled the XRP community as “toxic and petty.” However, his recent comments signal a shift in relations, even prompting a response from Ripple’s CTO, David Schwartz.

Market Trend

Following Trump’s announcement, XRP’s price surged 17.02% in the past 24 hours, reaching $2.65, primarily attributed to the announcement rather than Hoskinson’s defense. Analyst Ali Martinez noted significant whale accumulation, indicating growing institutional confidence in XRP, which may further impact market momentum. Investor sentiment remains optimistic as XRP navigates the changing regulatory and financial landscape.