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Will The US Adopt XRP Alongside Bitcoin?

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1 month ago

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The potential inclusion of XRP in the US Strategic Reserve has sparked intense debate, with experts sharply divided on the matter. While proponents like Ripple CEO Brad Garlinghouse recommend a diversified US strategic reserve, Bitcoin maximalists vehemently oppose the idea.

Since the 2024 Bitcoin Conference in Nashville, the community has eagerly awaited the US adoption of a strategic Bitcoin reserve. The recent executive order from President Donald Trump to develop a national digital asset stockpile has significantly intensified excitement. However, the focus shifted to a possible XRP reserve following Garlinghouse’s crucial statement.

Community Divides over US Strategic Reserve: XRP or Bitcoin?

In his X post, crypto influencer Scott Melker, also known as The Wolf of All Streets, commented on the possibility of an XRP reserve in the United States. Reiterating his previous views, Melker stated, “I don’t share rumors unless I hear them from multiple, reliable sources.”

However, Bitcoin enthusiast Wayne Vaughan strongly rejected the notion of an XRP reserve, warning that “including anything other than Bitcoin would have serious negative consequences.” Another popular Bitcoin figure known on X as AP_Abacus shared an anonymous but uniquely connected comment on the XRP reserve. The comment suggested that XRP’s attempts to join the US reserve are ultimately doomed to fail, as Bitcoin remains the undisputed focus.

Ripple’s Alleged Efforts to Hail XRP as US Reserve

Further, Scott Melker substantiated his claims by referring to American entrepreneur Jack Mallers’ controversial statement about Ripple.

Recently, Mallers alleged Ripple of “undermining American prosperity and freedom,” by trying to block the US Bitcoin strategic reserve. Describing Ripple’s act as “corporate lobbying disguised as innovation,” he stated that Ripple is spending millions to include XRP in the US strategic reserve.

The topic of the XRP reserve comes amidst recent developments in the Ripple-SEC lawsuit, with the crypto extension filing for an extension to file its brief. Meanwhile, Gary Gensler’s resignation and the recent developments within the SEC have sparked excitement in the community, anticipating a conclusion to the ongoing legal battle.

Brad Garlinghouse’s Theory of Diversified Strategic Reserve

Notably, the idea of an XRP reserve has surged following a significant statement by Ripple CEO Brad Garlinghouse, who discussed the potential for a diversified strategic reserve. However, Garlinghouse didn’t solely advocate for XRP as a reserve asset but proposed a blend of various digital assets. Garlinghouse stated,

I own XRP, BTC, and ETH, among a handful of others – we live in a multichain world, and I’ve advocated for a level-playing field instead of one token versus another. If a govt digital asset reserve is created – I believe it should be representative of the industry, not just one token (whether it be BTC, XRP or anything else).

Donald Trump’s Strategic Bitcoin Reserve

During his election campaigns, Donald Trump proposed a strategic Bitcoin reserve, gaining widespread traction. Influenced by Trump’s progressive approach, global powers like Bhutan, Hong Kong, Germany, the Czech Republic, and many more are embracing a similar stance.

However, as Trump hasn’t unveiled his decision on the Bitcoin reserve after his inauguration on January 20, the community remains anxious. The recent focus shift to an XRP reserve has further escalated the debate around the future of cryptocurrency reserves in the US.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Cardano (ADA) Price Eyes Breakout as Network Activity Soar

Published

3 hours ago

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March 4, 2025

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Cardano (ADA) price is in the spotlight as the prospect of the coin skyrocketing to a high of $10 resurfaces on social platforms. Backed by the positive shift in network activities, Cardano is now one of the most promising altcoins in the top 10 with bullish momentum as of writing. Amid the ongoing rebound, Cardano’s price has pared off some of its losses picked up from the volatility this week.

Cardano Network Activity Sees Uptick

According to data from Santiment, an ADA whale entered the market when its price briefly jumped to $1.13. The crypto analytics platform said this whale activity has been the most significant for three months. These whales represent transactions valued at $100,000 in ADA.

Per the accompanying chart, as of March 4, the Cardano network has recorded 1,132 whale transaction counts. The Mean Dollar Invested Age came in at 529.05. In all, the network recorded 2,671 unique $100,000 transactions as the price jumped above $1.13

Alongside this uptick, Santiment noted that the sudden uptick in transactions worth $100,000 sparked a drop in the average age of Cardano now in wallets. This trend has an upside. It implies a jump in the number of ADA tokens in regular circulation.

Cardano Price and the $10 Prospect

At the time of writing, the ADA price was $0.9369, up 9.82% in the past 24 hours. The coin has traded in a very close range, from a low of $0.7684 to a high of $0.9502.

Compared to an earlier ADA price analysis, in which the coin jumped 80%, the market remains cautious. However, the coin has the right fundamentals that might push it to a high of $10. 

Beyond the retained 35% growth over the past 7 days, Cardano’s open interest has skyrocketed by over 6% in 24 hours. Per Coinglass data, the coin’s futures open interest is 905.62 million ADA, worth over $842.04 million. A sustained boost in this metric might support the quest to breach higher price levels.

ADA Price and ETF Catalyst

The onchain enhancements spearheaded by Charles Hoskinson, like the push for Cardano to track government spending and the prospect of a Cardano ETF product, also boost ADA price sentiment. The United States Securities and Exchange Commission (SEC) has acknowledged Grayscale’s application for an ADA ETF. 

This acknowledgment places the coin on the list of altcoins awaiting official feedback from the SEC for approval or disapproval. Cardano pioneered decentralized governance with the Plomin hard fork and embodies an asset that may lead the next altcoin season.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Analyst Warns XRP Price Could Drop To $1.5 If This Happens

Published

5 hours ago

on

March 4, 2025

By


Crypto analyst CasiTrades has revealed that the XRP price is still at risk of dropping to as low as $1.5. She further mentioned what needs to happen for XRP to avoid dropping to this price target.

XRP Price Could Drop To $1.5 If This Happens

In an X post, CasiTrades revealed that the XRP price could drop to $1.5 if it fails to break and hold above the $2.42 price level. This came as she noted that XRP is attempting to reclaim the consolidation pattern it broke down from.

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The crypto analyst further remarked that XRP needs to break and hold the trendline at $2.42 as support to keep the bullish momentum alive. She added that it is very critical for this to happen or a retest of $2 or $1.54 could be in play.

CasiTrades’ analysis comes just as crypto analyst Egrag Crypto predicted that the XRP price could reach $30 by May this year. The analyst alluded to historical trends to prove why the crypto could reach this price target.

Analysis Of The Current Price Action

CasiTrades also gave an in-depth analysis of the current XRP price action. She noted that the crypto has seen a retracement of the move that followed Donald Trump’s announcement that XRP will be included in the crypto strategic reserve. However, the crypto analyst added that the overall market structure remained valid.

CasiTrades also stated that XRP held above W1 territory and did not make a new low. She remarked that the bigger picture still supports a wave 4 correction playing out, targeting a new high.

Meanwhile, the crypto analyst revealed that bullish divergences across timeframes are still intact and that the Relative Strength Index (RSI) is maintaining its uptrend from the $2 low. In line with this, CasiTrades stated that the next upside targets are $2.70 and $3.05. She noted that these are crucial levels before market participants can consider talking about new all-time highs (ATHs) for the XRP price.

In the meantime, if XRP fails to hold above $2.42, CasiTrades stated that the crypto could see a test of $2.20, which is a key subwave support level. A deeper retracement could take XRP back towards $2 or $1.54 if sellers take control. However, the crypto analyst said that she is still favoring the bullish scenario until there is a clear invalidation.

According to CasiTrades, the market is looking for buyer confirmation and this $2.42 level will decide if the XRP price moves higher from here of if there is need for more correction.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Can Ethereum Price Sink To $1,000 After Drop Below $2000

Published

7 hours ago

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March 4, 2025

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Ethereum price briefly dipped under $2,000 for the first time in over a year as on-chain data points to a gloomy future. Pundits say Ethereum could be on a death march toward $1,000 in a steep decline that has left speculators scratching their heads.

Ethereum Price Could Be Headed To $1,000

Ethereum (ETH) woes appear to be worsening following a dip in prices below $2,000 since December 2023.  Ethereum price touched $1,996 before staging a valiant climb back to $2,135, triggering concerns over its future direction.

On-chain data is grim for the largest altcoin with several indicators pointing toward a downward trend. Ethereum’s weekly RSI is at its lowest ebb for the first time since 2022 at 35.84. Similar RSI levels in 2022 saw the asset price fall even further by a staggering -60%.

Analysts say that the Ethereum price could fall to $1,000 given similar market conditions in 2022. The slip below $2000 follows an earlier dip below $2,200, leaving its parallel channel which experts say could induce correction to $1,600.

Ethereum’s triple-top pattern in its weekly chart is indicative of a 60% decline as bears have a field day. A 60% decline at current levels will see Ethereum price dip below the $1,000 mark.

Ethereum Is On Course To Record Its Worst Q1

The largest altcoin has endured a wave of negative sentiments since the start of 2025. Ethereum price has fallen by nearly 40% from its high of $3,300 at the start of the year.

A drop to $1,600 will see Ethereum record its worst Q1 performance, dwarfing the lows of the first quarter of 2024. US Ethereum ETFs recorded massive outflows while ETHA share price shed 38.59% since the start of the year.

While institutional interest around ETH sinks, the asset’s proposed inclusion into the US Crypto Strategic Reserve did little to stave off the massive decline. Despite the grim outlook, some pundits say the decline presents a buying opportunity for long-term investors.

“We are going into the undervaluation zone,” said the pseudonymous Venturefounder on X (formerly Twitter).

 

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Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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