XRP News: Ripple faces heavy backlash from the broader community, especially from the Bitcoin maxis, amid claims over XRP Reserve in the US. Notably, Donald Trump has recently hinted towards a potential crypto reserve rather than the Bitcoin Strategic Reserve. Having said that, a flurry of market enthusiasts claimed that the US might be leaning towards an XRP Reserve. However, several prominent figures have slammed the blockchain firm amid the rumors, which has sparked widespread discussions in the market.
XRP News: Ripple Faces Backlash Amid XRP Reserve Rumors
The crypto market is buzzing with speculation that the US government may consider XRP for a national crypto reserve. This follows Trump’s comments suggesting a shift away from the US Strategic Bitcoin Reserve (SBR) to crypto reserve. Notably, Donald Trump has also recently signed an order to create a National Digital Asset stockpile. However, the move has drawn sharp criticism, particularly from Bitcoin maximalists who view Ripple’s influence as a threat to Bitcoin’s dominance.
Notably, Messari Crypto founder Ryan Selkis voiced his concerns, stating that XRP exemplifies why a national crypto reserve is unnecessary. He emphasized his support for a Bitcoin reserve, accusing Ripple of lobbying against the SBR. According to Selkis, Ripple’s financial contributions to politicians reflect an agenda that undermines Bitcoin’s credibility.
Meanwhile, Pierre Rochard, VP of Research at Riot Platforms, echoed similar sentiments. He accused Ripple of lobbying aggressively to derail the SBR initiative and protecting its marketing narratives. He also claimed Ripple had previously targeted Bitcoin mining under the Biden administration to advance its own agenda.
Ripple CEO Brad Garlinghouse Reacts
Ripple CEO Brad Garlinghouse dismissed these allegations, highlighting the company’s commitment to fostering American innovation. Responding to Rochard’s claims, Garlinghouse stated Ripple’s lobbying efforts increase the chances of a strategic crypto reserve that includes Bitcoin.
However, Rochard remained critical, asserting Ripple aims to distract policymakers with “crypto” alternatives and promote XRP as a viable reserve asset. He further alleged Ripple had anticipated support from Kamala Harris for a CBDC built on their platform but was caught off guard by Trump’s victory.
Meanwhile, Rochard resurfaced an older post by Garlinghouse, where he expressed cautious optimism about Kamala Harris’s crypto policies. In the post, Garlinghouse also criticized former US SEC Chair Jay Clayton, a Trump appointee, for his anti-crypto stance.
Ripple & Trump Tie Sparks Discussion
In the latest XRP news, Ripple’s heavy backlash intensified after reports surfaced of Ripple executives meeting Trump. Ripple’s significant donations during Trump’s inauguration further fueled skepticism. Critics argue these moves reflect a calculated strategy to influence US crypto policy, prioritizing Ripple’s interests over broader industry growth.
As the debate unfolds, Ripple remains steadfast in its defense, portraying itself as a proponent of American innovation. Whether XRP becomes a strategic reserve asset or remains a controversial player in the crypto space is yet to be seen.
XRP Price Rally Imminent?
Amid the rumors over an XRP Reserve in the US and other positive market developments, experts are speculating over a potential rally ahead. For context, given the pro-crypto environment, several experts also expect an XRP price rally to $15 soon with a conclusion to the long-running Ripple SEC lawsuit.
Meanwhile, XRP price today jumped more than 3% and traded at $3.18, after touching a 24-hour high of $3.20. Besides, despite the robust gains, the crypto’s Relative Strength Index (RSI) stayed at 65, indicating further strong momentum ahead. Having said that, it is likely that Ripple’s native crypto will continue its run towards the north in the coming days, potentially hitting a new ATH soon.
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