Digital asset reserves, following the Trump administration's executive order establishing a Bitcoin reserve and a broader strategic crypto stockpile. This development has significantly boosted $XRP ,s market position, with its price surging over 12% to $2.56, briefly surpassing USDT in market capitalization and becoming the third-largest cryptocurrency behind Bitcoin ($BTC ) and #Ether (ETH).
In a recent Bloomberg Markets interview, Garlinghouse highlighted that former President Donald Trump specifically mentioned XRP in the context of the country's planned strategic crypto reserves. He anticipates that multiple XRP exchange-traded funds (ETFs) will receive approval before the end of 2025, citing over ten pending applications from firms like Bitwise and Franklin Templeton. While Ripple has previously considered an initial public offering (IPO), Garlinghouse noted that, although still a possibility, it is not a current priority.
The conclusion of the SEC's legal dispute with Ripple has further strengthened XRP's position. The SEC's decision to drop its lawsuit, which had been ongoing since 2020, has been attributed to the Trump administration's more favorable stance on cryptocurrency regulations. Garlinghouse criticized the SEC's previous enforcement actions as excessive, particularly in cases where no financial harm had occurred. This shift in regulatory approach aligns with the administration's efforts to support the growth of the cryptocurrency market, including the establishment of a governmental Bitcoin reserve and the creation of a working group to study changes in crypto regulations.
These developments occur against the backdrop of the Federal Reserve's recent decision to hold interest rates steady, with projections indicating two rate cuts by the end of 2025. The CME FedWatch Tool currently indicates a 99% probability that rates will remain unchanged following the latest inflation data release. Fed Chair Jerome Powell has expressed caution due to potential uncertainties arising from trade policies, including recent tariffs on steel and aluminum imports.
Overall, the convergence of favorable regulatory developments, potential financial products like XRP ETFs, and a supportive monetary policy environment positions XRP and Ripple for significant growth in the coming months.
Today
XRP (XRP)
$2.45
-$0.06
(-2.39%)
