When Putin's advisor warned that 'the United States needs to rewrite the cryptocurrency rules', it sent shockwaves through the global crypto community. The long-dormant XRP was suddenly thrust into the spotlight, being assigned the daunting task of 'rescuing $35 trillion of U.S. debt'—according to market estimates, to absorb this astronomical debt, XRP's price would need to soar from the current $3 to $983, a staggering increase of 3200 times. This is not just speculation; it is clearly a financial fantasy detached from reality.
First, let’s look at this shocking figure: the U.S. national debt has surpassed $35 trillion, equivalent to each American citizen bearing a debt of $100,000, with daily interest amounting to $2 billion. Currently, the total circulating supply of XRP is about 53 billion coins, with a market cap of only $160 billion. Even if Ripple were to sell all 35.6 billion XRP it holds, based on the current price, it would only cover $106.8 billion of the debt, less than 0.3% of the total U.S. debt. To fill the $35 trillion gap, XRP’s price would need to exceed $983, which implies its total market cap would have to reach $52 trillion, far exceeding half of the current total market cap of the global stock market (approximately $100 trillion). Such a scale is simply unsustainable within the existing financial system.
More crucially, the United States' attitude towards cryptocurrency has never wavered. Federal Reserve Chairman Powell has repeatedly emphasized that "crypto assets are not legal tender," and the SEC has defined XRP as "unregistered securities." The back-and-forth litigation between the two parties has lasted for years, and only in 2023 was a partial settlement reluctantly reached. Under such regulatory pressure, the notion of incorporating cryptocurrency into the national strategic reserves is simply contrary to the current US policy.
Ripple's position is also full of contradictions. Among the 35.6 billion XRP it holds, nearly 20 billion are under custody, and only 1 billion are released for circulation each month. A large-scale sale to save US bonds would not only trigger an immediate market crash but would also ruin the business collaborations the company has built over years (such as cross-border payment partnerships with over 100 financial institutions worldwide). The dual constraints of shareholder interests and corporate strategy determine that this hypothesis is fundamentally unfeasible.
Those extravagant claims of "price fantasies" do not stand up to scrutiny: the so-called "XRP rising to $10,000 could serve as a central bank digital currency (CBDC) lifeblood" ignores that 114 countries are already developing their own CBDCs, with China's digital yuan covering 26 million corporate accounts, and the prototype testing of the US digital dollar is also underway, negating the need to rely on third-party cryptocurrencies. As for the claims of "supporting the securities market at $100,000" and "binding biometrics at $1 million," they forcibly graft immature technological concepts — biometric payments are still strictly limited by the General Data Protection Regulation (GDPR) in the EU, and many states in the US even prohibit companies from mandatorily collecting biometric information, with technological implementation requiring a cycle of over ten years.
The inherent vulnerability of the cryptocurrency market cannot be ignored. In 2022, LUNA’s price plummeted from $119 to $0.00015, and in 2023, the bankruptcy of the FTX exchange evaporated $32 billion, all proving that this market lacks the stability to absorb trillions in funds. Moreover, the fragmentation of global regulation has turned "strategic reserves" into mere talk: China has completely banned cryptocurrency trading, the European Union has implemented strict access rules through the Markets in Crypto-Assets Regulation (MiCA), and the regulatory power struggle between the SEC and CFTC in the US is still ongoing. In this context of fragmented global governance, no cryptocurrency can bear the heavy responsibility of being an "international reserve asset."
The warnings from the Russian side are not unfounded. If the US attempts to transfer the debt crisis by manipulating cryptocurrency rules, it essentially undermines the existing international monetary system. After the 2008 financial crisis, global vigilance against dollar hegemony has continued to rise, the BRICS countries have launched local currency settlement mechanisms, and the use of the euro in energy trade is steadily increasing. If cryptocurrencies are weaponized at this time, it will only accelerate the global de-dollarization process.
Whether XRP can truly rise does not depend on outrageous price predictions, but on whether its technology can solve real problems — currently, its cross-border payment system has some applications in certain developing countries, but its processing speed does not have an absolute advantage compared to the traditional SWIFT system, and it faces strict restrictions from various countries' anti-money laundering regulations. Legally, the shadow of the SEC's lawsuit has not completely dissipated; if it is ultimately deemed a security, its liquidity will suffer a fatal blow.
Ultimately, this farce of "XRP saving the US bonds" is merely a product of capital speculation, technological frenzy, and geopolitical maneuvering intertwined. In the ups and downs of the cryptocurrency world, what truly needs to be seen clearly is not the illusion of wealth at the peak of the bubble, but the reconstruction logic of the global financial system in the digital economy era — only reforms based on technological innovation, regulatory collaboration, and market trust can truly drive financial progress.
If you are still confused in the cryptocurrency world, lacking firsthand news and professional guidance, you might as well follow Ming Ge. Ming Ge has been deeply involved in the cryptocurrency space for many years, sharing rich experiences and real operational insights every day!#xrp
