XRP is getting a lot of attention again after former President Donald Trump made an unexpected comment about the cryptocurrency. In a recent post on Truth Social, Trump said that Ripple’s token, XRP, could be used as a possible strategic reserve currency. He also suggested that XRP might one day compete with the U.S. dollar.
This surprising statement has led to strong reactions, sparking conversations in both political groups and the wider crypto world. Many people are now wondering what this kind of public support could mean for XRP’s future in the world of digital money.
Trump’s XRP Support Stirs Confusion and Debate
People familiar with the situation believe Trump may have been given the wrong information by his advisors or XRP supporters who are promoting the token as a government-backed digital currency. Some analysts see this as an example of how false information in the crypto world can influence major public figures. The comment has sparked broader discussion—not just about XRP’s role, but also about how digital currencies are becoming more present in political conversations.
Critics say Trump might not fully understand the legal problems Ripple is still facing. The company remains in a lawsuit with the U.S. Securities and Exchange Commission (SEC), which hasn’t been fully resolved despite a partial agreement. While Trump’s support could boost XRP’s popularity, it also raises new concerns from regulators and might make Ripple’s efforts to meet legal standards more difficult.
XRP Struggles After Dip
Even with the recent support, XRP had trouble keeping its price up over the weekend. On Tuesday, May 13, XRP dropped by 2.7% to $2.54, falling behind other major cryptocurrencies like Bitcoin and Solana, which saw solid increases. The value of XRP compared to Bitcoin also fell by 3%, showing that interest from big investors may be fading.
Reports show that the price struggled to break past the $2.50 level, which had been tested several times recently. This led many traders to sell and take profits quickly. Experts say more than $360 million was pulled out of XRP trading in just 24 hours. The overall mood around Ripple shifted from hopeful to cautious, especially after XRP was unexpectedly included in a draft policy tied to U.S. strategic reserves.
XRP Lawsuit Update Raises New Regulatory Concerns
Shortly before the Trump comment, Ripple reached a $50 million settlement in part of its ongoing fight with the SEC. This news briefly lifted XRP’s price, leading traders to believe that clearer regulations were coming soon. However, recent events have reignited concerns about the SEC’s scrutiny of Ripple, with rumors suggesting that lobbying efforts may have influenced policy drafts. Insiders from Capitol Hill have pointed out that including XRP in the strategic reserve draft was “too soon” and doesn’t align with current U.S. regulations.
As a result, Ripple’s legal battles with the SEC are once again overshadowing its progress. Some fear that political influences could further delay regulatory decisions and lead to more investigations into the company.
Final Thoughts
While Trump’s unexpected support for XRP has brought the cryptocurrency back into focus, it has also raised more questions. His comment about XRP possibly competing with the U.S. dollar has led to debates about its future.
However, Ripple’s ongoing legal issues with the SEC, along with concerns about misinformation and political influence, make the situation more complicated. As XRP faces challenges in the market and regulatory uncertainty, it’s clear that Ripple’s path forward will come with both opportunities and difficulties.
