XRP Maintains Bullish Momentum Amid Controversy Over Potential U.S. Crypto Reserves
The post XRP Maintains Bullish Momentum Amid Controversy Over Potential U.S. Crypto Reserves appeared on BitcoinEthereumNews.com.
As Bitcoin maximalists rage against XRP’s potential inclusion in U.S. crypto reserves, market metrics tell a different story. XRP maintained its bullish momentum with the MA cross at 2.5373/1.1871 despite political controversy. Trading volume held steady at 23.66M XRP, while the price has formed higher lows since November 2024. This article examines XRP’s performance amid debate over its proposed inclusion in U.S. crypto reserves following President Trump’s recent executive order. XRP under fire from Bitcoiners On January 23rd, President Trump signed the “Strengthening American Leadership in Digital Financial Technology” executive order, which notably includes provisions for establishing a “strategic crypto reserve.” However, the term “strategic crypto reserve” has ignited fierce debate within the cryptocurrency community over the past 48 hours. Bitcoin proponents argue that the language should have explicitly specified a “Strategic Bitcoin Reserve,” thereby excluding all other digital assets. Critics have particularly targeted Ripple, alleging that the company influenced the executive order’s wording. Notable industry figures have weighed in on the controversy. Riot Platforms’ Head of Research, Pierre Rochard, suggested that establishing a Bitcoin reserve faces challenges due to Ripple’s alleged political lobbying efforts. Messari founder Ryan Selkis has also announced plans to educate President Trump about why XRP exemplifies the redundancy of a national crypto reserve. Additionally, Bitvolt CEO Nico Moran accused Ripple of actively opposing the U.S. Bitcoin Strategic Reserve initiative while prioritizing corporate interests over national benefit. How XRP has trended amid controversy The XRP/USD pair traded at $3.1353 at press time, posting a modest 0.90% increase. The MA cross between the 50-day (2.5373) and 200-day (1.1871) moving averages maintained a strong bullish structure, with price action consolidating well above both indicators. Trading volume stood at 23.66M XRP, indicating sustained market interest amid the political controversy. Source: TradingView The RSI at 63.93 suggested moderate bullish momentum…
Filed under: News - @ January 26, 2025 1:16 pm