The push for a Strategic Bitcoin Reserve (SBR) has been ongoing for months. Recently, Pierre Rochard, VP of Research at Riot Platforms, criticized Ripple Labs for actively lobbying against the plan. Rochard claimed Ripple Labs is spending millions to influence politicians and hinder the creation of the SBR, Coingape reported.

Meanwhile, the XRPUSD H1 chart shows that after finding support at a critical level, the price has been going up and is heading towards the resistance of a bearish trendline.

Garlinghouse Responds to Criticism on Bitcoin Reserve

Rochard argued that the biggest obstacle to the SBR is not the Federal Reserve, US Treasury, or banks, but Ripple Labs. He emphasized that Ripple’s focus on XRP is behind the opposition to the reserve. He also pointed to Ripple’s previous attacks on Bitcoin mining under President Biden’s administration, suggesting Ripple aims to protect its platform and promote Central Bank Digital Currencies (CBDCs).

In response, Ripple CEO Brad Garlinghouse dismissed Rochard’s claims, suggesting that Rochard is overlooking President Trump’s campaign promises to support American companies and technologies. Garlinghouse stated that Ripple’s efforts align with increasing the likelihood of a crypto reserve, including Bitcoin.

XRPUSD Forms Bullish Engulfing, Eyes Resistance

The XRPUSD H1 chart shows that the price bounced at 3.05450, forming a bullish engulfing candle. Since then, it has been moving upwards with strong momentum. The chart also highlights a bearish trendline in play. Traders should monitor the price action around the trendline’s resistance. A bullish breakout could provide additional momentum, pushing the price further north.

Pro-Crypto Regulators Appointed on Inauguration Day

The exchange took place shortly before President Trump signed an executive order to create a national digital asset stockpile. The move was a significant step for the crypto industry, though it has caused some backlash from Bitcoin advocates. The President’s decision to exclude a single asset reserve and include altcoins, including XRP, has drawn attention.

On inauguration day, the White House named Mark Uyeda as acting chairman of the US SEC and Caroline Pham as the Chairman of the CFTC. Both regulators are known for their pro-crypto stance and were endorsed by industry leaders.

Why Is XRP Going Up Today?

XRP’s price rise today is influenced by several factors, including speculation about a shift in the SEC’s stance under Trump, the potential approval of XRP spot ETFs, and the launch of Ripple Labs’ RLUSD stablecoin. Technical analysis highlights key support levels at $2, $2.25, $2.50, and $3.

What Could XRP’s Price Be by 2025?

XRP price predictions for 2025 vary widely. Conservative estimates range from $1.35 to $2.50, while analysts like Levi Rietveld suggest a range of $20–23. Optimistic projections reach as high as $70.

Is a $500 XRP Price Realistic?

A $500 XRP price appears unlikely in the near term, requiring a $26 trillion market cap. More realistic estimates suggest a range of $15–25 by 2030. Some, like Grok AI, believe $500 could be achievable post-2030 with widespread global payment adoption.

Does XRP Have Long-Term Potential?

XRP shows potential, particularly in fintech, due to its role in cross-border payments and growing partnerships in Asia, Africa, and Latin America. By 2027–2028, it may see further integration into traditional finance systems.

This article was written by Tareq Sikder at www.financemagnates.com.TrendingRead More

You might also be interested in reading Canadian regulator will hold hearing against Bybit for alleged violations of securities law.