Trump’s Crypto Coup: XRP Price Skyrockets 🚀

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Trump’s Crypto Coup: XRP Price Skyrockets 🚀

Trump’s Crypto Coup: XRP Price Skyrockets 🚀

Oh, the whims of fate! On Sunday, March 2, the Ripple (XRP) price rose by a staggering 40%, grazing the $3 mark like a tipsy aristocrat stumbling upon a fortune. And what sparked this revelatory rise, you ask? None other than US President Donald Trump’s decision to include XRP in the newly-established crypto strategic reserve, alongside Bitcoin (BTC), Cardano (ADA), Solana (SOL), and Ethereum (ETH).

Ripple (XRP) Delivers 40% Gains after Trump’s Executive Order on Crypto Strategic Reserve 🤑

Ripple (XRP) has been the belle of the crypto ball, dominating headlines with its stablecoin launch, the SEC dropping charges, and ETF filing speculations. But Trump’s announcement was the icing on the cake, sending XRP prices into a frenzy.

As the news spread like wildfire, traders scrambled to bolster their holdings, anticipating the US Treasury’s spot XRP purchases for its strategic reserve. And, oh, the sweet nectar of profit! Within hours, Ripple price rose by 40%, surging from $2.14 to graze the $3 mark before the close of trading on Sunday.

XRP delivered the second-highest price gains among the five assets mentioned in Trump’s US Crypto Strategic Reserve pool, behind Cardano, which surged by more than 100% (because, why not? 🤷‍♂️). XRP’s inclusion has sparked a backlash from Bitcoin enthusiasts and maximalists, who argue that only BTC should be adopted, citing operational risks associated with altcoins.

Cardano CEO Responds as Peter Schiff Leads Bitcoiners’ Campaign Against Ripple’s Inclusion 🤔

Economist Peter Schiff voiced strong opposition, questioning why the U.S. needs an XRP reserve. Despite widespread industry support, Schiff challenged President Donald Trump’s announcement, writing:

“I get the rationale for a bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let’s create a bitcoin reserve too. But what’s the rationale for an XRP reserve? Why the hell would we need that?”

– Peter Schiff, March 2, 2025

Cardano founder and CEO Charles Hoskinson responded, backing XRP’s inclusion:

“Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision,”

– Charles Hoskinson, Cardano Founder and CEO, March 2, 2025.

By spreading capital across four altcoins, Bitcoin is expected to see less upside than if it were the sole asset. As US Treasury funds begin flowing into XRP, ADA, SOL, and ETH, could potentially encroach on Bitcoin’s market dominance in the near-term, strengthening the mainstream appeal of the crypto industry globally.

XRP Price Forecast: Multi-day closes above $3 could see bulls set sights on $5 rally 🔮

XRP price action has seen a dramatic surge, gaining nearly 40% in two days before facing resistance near the $3 psychological level. The daily chart reflects strong bullish momentum, with XRP breaking above its Bollinger Band midline ($2.53) and nearing the upper band ($2.99).

The MACD indicator further supports bullish momentum, with the MACD line (blue) crossing above the signal line (orange) and histogram bars flipping green. A continued expansion in the histogram would validate sustained buying pressure. Still, failure to hold current levels could see prices retracing to the midline of the Bollinger Bands at $2.53 or even the lower band at $2.07, where dip buyers may step in.

For now, bulls must defend $2.80 as support while pushing for a decisive close above $3. If successful, momentum could propel XRP price towards $3.50, followed by the $5 psychological mark. Conversely, rejection at resistance and a bearish MACD crossover would expose XRP to deeper correction risks, potentially revisiting $2.50 in the short term.

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2025-03-03 05:23