TL;DR
- Brad Garlinghouse discussed with Trump the possible inclusion of Ripple (XRP) in the U.S. strategic reserve.
- Despite the announcement, XRP dropped 3.4% in the last 24 hours, with a 40% decline in trading volume.
- The market has yet to react to these discussions, waiting for concrete actions instead of statements.
Brad Garlinghouse, CEO of Ripple, recently revealed that he has held discussions with Donald Trump about the possibility of including XRP in the United States’ strategic reserve. The proposal aims to diversify the country’s digital assets and reduce its reliance solely on Bitcoin. Garlinghouse emphasized that a multi-cryptocurrency approach would strengthen the industry and benefit U.S. companies.
Bitcoin’s dominance continues to divide the crypto community. Garlinghouse criticized the stance of those who advocate for the exclusivity of a single asset. He pointed out that restricting the ecosystem to just one cryptocurrency hinders growth and stressed that cooperation among different projects is crucial to driving innovation in the industry. He also noted that the market has enough room for multiple cryptocurrencies to thrive without engaging in destructive competition.
Diversification for Innovation
The Ripple CEO also mentioned that he owns Bitcoin, Ethereum, and XRP, aligning with his stance on diversification. He clarified that his goal is not to replace Bitcoin but to foster an environment where different technologies can add value without unnecessary conflicts.
Garlinghouse highlighted that the relationship between the crypto industry and Trump has evolved. After a period of tension, the now re-elected President has shown a more open attitude toward innovation. According to Garlinghouse, this shift has created a more favorable environment for U.S. companies developing blockchain-based technologies.
Ripple’s Market Reaction
Despite Garlinghouse’s statements, Ripple (XRP) has not performed as expected. While it has experienced highly successful months, news of this kind would typically have a significant impact on its price. However, Ripple is currently going through a period of extreme volatility and is trading lower. In the last 24 hours, the token has dropped 3.4%, falling to $3.07 per unit. Trading volume has also declined by 40%, barely surpassing $6.2 billion.
The market has yet to react to the discussions between Trump and Garlinghouse. Beyond words, investors likely expect concrete actions, much like what happened with Bitcoin reserves, which have yet to materialize. For now, XRP must navigate its own volatility challenges and await potential regulatory developments in the near future
