Michael Saylor, Executive Chairman of Strategy, recently commented on the inclusion of cryptocurrencies in US strategic reserves. His remarks followed the signing of an executive order by US President Donald Trump, which included Bitcoin alongside altcoins like Ethereum, XRP, Solana, and Cardano, Coingape reported.

The XRPUSD H1 chart indicates that the price recently bounced off a trendline’s support and has been gradually moving upwards.

Saylor Discusses XRP and Bitcoin Reserves

In an interview with Fox Business, Saylor addressed regulatory considerations for digital assets. When asked about XRP, he referred to it as a token, suggesting that its issuance should occur under a regulatory framework.

“I think those are tokens, and we should have a regulatory framework that allows those to be issued,” Saylor said.

Saylor Supports Bitcoin Reserve, Armstrong Suggests Simplicity

On the broader question of whether altcoins should be part of US reserves, Saylor stated that the prevailing view favours Bitcoin as the sole strategic reserve asset in the long term. The comments reflect ongoing discussions about the regulatory landscape and the role of digital assets in national reserves.

Meanwhile, Coinbase CEO Brian Armstrong suggested that limiting the reserve to bitcoin would be the simplest option, presenting a clear successor to gold. In an X post, he mentioned he was still forming an opinion on asset allocation, but proposed a market cap-weighted index of crypto assets as an alternative to provide variety, though he considered the first option the easiest.

XRPUSD Bounces, Buyers Push Upward

The XRPUSD H1 chart reveals that the price has bounced twice off the drawn support level. During the last bounce, a bullish candle formed with a strong rejection from the upside.

Despite this, minor buyers have been gradually pushing the price upward. The price recently broke out at 2.53850, a significant level. This level may now act as support, with intraday traders likely to monitor price action closely around it.

Ripple Expands Partnerships and Developments in Crypto and DeFi

Ripple has been involved in various significant developments. South Korea’s institutional crypto storage firm BDACS will utilize Ripple Custody to secure XRP and RLUSD, a dollar-pegged stablecoin issued by Ripple. This partnership targets institutional clients seeking secure storage for digital assets.

Ripple has also partnered with Revolut and Zero Hash to increase access to RLUSD, positioning it as a competitor to USDT and USDC.

Additionally, Ripple has collaborated with Portuguese exchange provider Unicâmbio to facilitate instant international payments between Portugal and Brazil, utilizing digital assets for efficient cross-border transactions.

Ripple garnered attention when CEO Garlinghouse and Chief Legal Officer Alderoty attended a private dinner with President-elect Donald Trump on January 6, sparking speculation about the ongoing legal case with the US Securities and Exchange Commission (SEC). The SEC had filed a lawsuit in December 2020 alleging Ripple sold XRP tokens as unregistered securities.

In philanthropy, Ripple donated $100,000 in XRP to support communities affected by California wildfires, aiding organizations like World Central Kitchen and GiveDirectly through The Giving Block platform.

Investor activity in XRP remains strong, with whales acquiring 520 million tokens during a recent price dip, indicating continued interest. The SEC’s reassignment of Jorge Tenreiro, who oversaw Ripple’s case, has raised questions about the agency’s future approach to crypto litigation.

Ripple has made progress in Japan, with expectations that banks will adopt the XRP Ledger by 2025, aiming to enhance cross-border payments and currency conversions for remittances.

In the DeFi sector, Ripple has partnered with Chainlink to integrate its RLUSD stablecoin into Ethereum-based DeFi applications for trading and lending.

The debate over XRP’s inclusion in a US crypto reserve continues, with concerns about centralization complicating the discussion. Ripple’s Chief Technology Officer, David Schwartz, defended the decentralization of the XRP Ledger, emphasizing its resilience against manipulation.

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

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