The cryptocurrency market has been buzzing after President Donald Trump
In a recent post on Truth Social, Trump confirmed that Bitcoin and Ethereum will be the core of this crypto reserve, alongside other major assets like XRP, Solana, and Cardano. This move is seen as highly bullish for the crypto market, as it signals the U.S. government’s involvement in holding and possibly purchasing these cryptocurrencies as reserve assets. The announcement has already had a noticeable impact on market prices, with XRP seeing a sharp price surge of around 35%.
XRP’s price has experienced a significant jump since Trump’s announcement. The cryptocurrency, which was priced at approximately $2.20 before the news, has surged past $2.80, breaking through key resistance levels. If XRP continues to hold above the $2.80 level and closes with a daily candle, it could confirm a bullish breakout, possibly pushing the price toward $3 and beyond.
While the recent rally is promising, it’s essential to be cautious. The current price movements have been volatile, and after a major pump, some caution is advised. If XRP maintains its upward momentum and continues to break key resistance levels, it could be headed toward new highs, potentially revisiting its all-time highs near $3.40. At press time, XRP is up by more than 24% and is trading at $2.80.
XRP is up due to Trump’s announcement of a U.S. crypto reserve, increased investor confidence, and a potential shift in regulations.
Trump’s Crypto Strategic Reserve is a U.S. government initiative to hold and potentially purchase Bitcoin, Ethereum, XRP, Solana, and Cardano.
If bullish momentum continues and key resistance levels break, XRP could revisit its 2018 all-time high of $3.40.
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