Ripple (XRP) price rose 40% on Sunday March 2, grazing the $3 mark in reaction to US President Donald Trump’s decision to include XRP in a newly-established crypto strategic reserve.

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

Ripple (XRP) has dominated crypto media headlines in recent weeks, thanks to events surrounding a new stablecoin launch, the SEC dropping multi-year-long charges against Ripple, and speculations around ETF filing progress.

However, US President Donald Trump introduced fresh bullish impetus on Sunday after announcing an executive order to include XRP, along with Bitcoin (BTC), Cardano (ADA), Solana (SOL), and Ethereum (ETH), in the newly established US Crypto Strategic Reserve.

Ripple (XRP) Price Action, March 2, 2025

As expected, the news boosted demand for XRP as traders moved swiftly to bolster their holdings to front-run gains, anticipating that the US Treasury—managing the world’s second-largest economy—would begin making spot XRP purchases for its strategic reserve.

Within hours of Trump’s posts on Truth Social, Ripple price rose by a remarkable 40%, surging from an opening price of $2.14 to graze the $3 mark before the close of trading on Sunday.

Notably, 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%, moving from $0.60 to a peak of $1.20 at press time.

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

Trump’s inclusion of XRP in the Crypto Strategic Reserve follows a public appeal from Ripple CEO Brad Garlinghouse on February 28. Garlinghouse urged the administration to adopt a more holistic approach rather than solely endorsing Bitcoin for the U.S. Treasury.

However, XRP’s inclusion has sparked backlash from Bitcoin enthusiasts and maximalists who argue that only BTC should be adopted, citing operational risks associated with altcoins.

Economist Peter Schiff voiced strong opposition, questioning why the U.S. needs an XRP reserve. Despite widespread industry support, Schiff challeged President Donald Trump’s announcement of a strategic crypto reserve that includes XRP alongside Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA).

 While acknowledging the logic behind a Bitcoin reserve—comparing it to the U.S. gold reserve—Schiff appeared baffled by the choice to include XRP, writing that:

“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

His post quickly drew responses from the global “XRP Army” crypto community,  who defended the decision, pointing to Trump’s pledge to make the United States a global leader in cryptocurrency.

Cardano founder and CEO Charles Hoskinson was among those who 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, it strengthens 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). However, the rejection at $2.99 signals an overheated market, and bulls must secure multi-day closes above this threshold to confirm continuation toward $5.

XRP Price Forecast

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

The post Will XRP Price Rally Hit $5 ? Cardano CEO Shutdown Peter Schiff’s ‘Bitcoiner’ Campaign against Ripple’s Strategic Reserve Inclusion appeared first on CoinGape.

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Filed under: News - @ March 3, 2025 2:17 am