XRP has been making waves recently, bouncing back from a bearish trend and showing signs of recovery. With XRP currently trading at $2.30, the token has surged over 16% in just 24 hours. This uptick follows reports that Donald Trump’s fund is looking to invest in XRP. The possibility of ETF approvals and proposed tax exemptions for U.S. cryptocurrencies are also factors that could impact the price further.
Is Trump Betting Big on Crypto?
Mark Yusko, the founder of Morgan Creek Capital Management, recently mentioned that Donald Trump and his son Eric are diving into digital assets such as Bitcoin (BTC), Hedera (HBAR), and XRP. Many believe this involvement could position Trump as a notable player in the cryptocurrency market, especially with potential ETF approvals on the horizon for both HBAR and XRP. The excitement is palpable as Yusko called attention to Trump’s rumored commitment to building a national reserve of U.S.-based cryptocurrencies.
Whales Are Buying XRP
Trump’s rumored investment is not the only factor likely driving optimism around XRP. On-chain analyst Ali Martinez reported that cryptocurrency whales have accumulated 80 million XRP since the recent price correction began. This strong interest from significant investors indicates that confidence in XRP is growing. A crypto analyst also pointed out similarities with XRP’s 2017 bull run, suggesting that the token could potentially rise to between $8 and $13 if history repeats itself. Such analyses have sparked anticipation among XRP holders for an imminent price surge.
While some analysts maintain a positive outlook, Yusko has voiced concerns regarding XRP’s long-term potential, citing a perceived lack of innovation compared to competitors like Cardano. Nevertheless, he remains hopeful about the evolving landscape of cryptocurrency regulations in the U.S., especially given the support from influential figures like Scott Bessent and the potential future SEC chair.
The Road Ahead for XRP
As speculations circulate, many are pondering whether Trump’s team will include XRP and HBAR in a proposed national cryptocurrency reserve. According to reports, there is a strategic aim to classify these tokens as “American Commodities,” giving the U.S. a stronger foothold in the global crypto market.
Whether driven by whale activity, historical trends, or a powerful name like Trump’s entering the space, XRP’s journey is one to watch. The unfolding events suggest that the market is filled with excitement and unpredictability, keeping investors on their toes.
