$XRP XRP is the native cryptocurrency of the XRP Ledger (XRPL), a decentralized, open-source blockchain platform designed for fast and efficient cross-border payments. Launched in 2012 by Ripple Labs, XRPL facilitates real-time gross settlement, currency exchange, and remittances, aiming to enable secure and instant global transactions.

As of today, XRP's price has experienced a notable increase, rising to $2.59, marking a more than 5% increase in the past 24 hours and a substantial recovery from its recent low of $1.95. This brings XRP's gains to 25% for the year 2025 and a remarkable 335% increase over the past year.

This surge aligns with recent developments in the cryptocurrency sector, particularly the U.S. administration's announcement of a strategic crypto reserve. On March 2, 2025, President Donald Trump unveiled plans to include five specific cryptocurrencies—Bitcoin, Ether, XRP, Solana, and Cardano—in the U.S. "Crypto Strategic Reserve," aiming to position the U.S. as a global leader in the cryptocurrency market.

The White House is set to host a Crypto Summit today, March 7, 2025, from 1:30 to 5:30 p.m. ET, led by David Sacks. This event is highly anticipated, as it might mark the launch of the U.S. strategic crypto reserve. Industry leaders, including Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse, are expected to attend.

Ripple's CEO, Brad Garlinghouse, has been instrumental in positioning XRP within the current administration's crypto initiatives. Through substantial lobbying and contributions to crypto-friendly political causes, Garlinghouse has secured a prominent role for Ripple and XRP in the evolving U.S.