Ripple (XRP) On Fire as US Digital Reserve Plan Divides Community
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- XRP has continued its positive trajectory with bullish signals at 2.5373/1.1871 amidst political discord.
- The trading volume was steady at 23.66 million XRP as prices have shown consistent higher lows since November 2024.
The U.S. government recently took a landmark step towards embracing digital assets through an Executive Order issued by President Donald Trump.
This action, though intended to unify the cryptocurrency realm, has ignited heated debates, particularly targeting Ripple [XRP] from Bitcoin [BTC] supporters.
XRP Faces Backlash from Bitcoin Advocates
On January 23, President Trump approved the Executive Order “Strengthening American Leadership in Digital Financial Technology,” which includes plans for a “Strategic Crypto Reserve.”
The idea of a “strategic crypto reserve” has led to intense discussions within the crypto community over recent days.
Bitcoin advocates insist that the language should have specifically included a “strategic bitcoin reserve,” disregarding other cryptocurrencies altogether.
Critics are directing their ire towards Ripple, alleging that the company had an impact on how the executive order was phrased.
Main figures in the industry have expressed their thoughts on this matter; for example:
Pierre Rochard, research head at Riot Platforms, stated that establishing such a bitcoin reserve might be complicated due to Ripple’s purported lobbying efforts.
Apart from this,
Ryan Selkis of Messari also mentioned his intention to enlighten President Trump on why XRP demonstrates the unnecessary nature of a national crypto reserve.
Nico Moran,
the CEO of Bitvolt,
accused Ripple of actively working against U.S. endeavors for establishing a strategic bitcoin reserve while prioritizing business interests over national benefit.
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