Key Takeaways
- XRP has gained much rumor following Donald Trump’s signing of a US Bitcoin strategic reserve stockpile.
- US White House A.I. and crypto Czar David Sacks applauds Donald Trump for keeping his promise to make the US a blockchain hub.
- XRP price trades above key support as crypto analysts and experts expect Donald Trump’s announcement for US strategic reserve for XRP.
Donald Trump signed an executive order to stockpile a strategic Bitcoin Reserve for the United States, which has raised many concerns. However, this aligns with his vision to harness this cutting-edge technology and make the US a major force in the crypto space.
The US White House A.I. and crypto Czar David Sacks has taken to his X account to discuss this development as a step in the right direction and has applauded Donald Trump for keeping his word on making the US a hub for crypto. He further went on to say the following;
“The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.
It is estimated that the U.S. government owns about 200,000 Bitcoin; however, there has never been a complete audit. The E.O. directs a full accounting of the federal government’s digital asset holdings.
The U.S. will not sell any Bitcoin deposited into the Reserve. It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called “digital gold.”
Premature sales of Bitcoin have already cost U.S. taxpayers over $17 billion in lost value. Now, the federal government will have a strategy to maximize the value of its holdings.
The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers.”
David Sacks has further highlighted that Bitcoin is a scarce digital asset, and the US strategic reserve plans to hold it for the long term.
Despite the current executive order for Bitcoin reserve, the price of Bitcoin and altcoins remains dormant, with less volume. Bitcoin trades around $88,000, struggling to break past the highs of $94,000, which act as resistance for the price.
Altcoins such as XRP have continued to gain much buzz on the internet. Top crypto experts and investors are in high spirits, expecting the XRP strategic reserve to be signed, which could mean a bullish price action for the crypto asset.
XRP US Strategic Reserve Could Boost Price To $50
Rumors suggest that the Bitcoin reserve will be announced with the likes of XRP, which will bring a major boost in price. The price of XRP could see a rally past the high of $3, acting as key resistance. The price could begin a renewed rally to a region of $5, and the price could aim for a rally toward $10.
The price of XRP, which is above its key support of $2, is a strong base point for price as crypto experts remain positive. As a key announcement regarding the XRP reserve, we could see the price demonstrate some fireworks.
