empty
29.01.2025 10:13 AM
XRP Could Be Added to the U.S. Cryptocurrency Reserve

Despite a major panic-driven sell-off in the Asian cryptocurrency market, traders quickly seized the opportunity and managed to recover most of the losses. Bitcoin has returned to the $103,000 range, where it spent a significant amount of time yesterday, while Ethereum continues to struggle to break above $3,161.One of the key developments in the crypto market is the recent statement from Ripple CEO Brad Garlinghouse. He revealed that he had discussions with Donald Trump regarding the possibility of XRP becoming a strategic reserve asset for the U.S.. However, Garlinghouse did not specify whether Trump made any commitments on this matter or if the meeting led to any tangible progress.

This image is no longer relevant

Garlinghouse emphasized that establishing a strategic reserve based on XRP could significantly enhance the economic resilience of the U.S.. He pointed out that such an initiative would allow the government to leverage blockchain technology for financial optimization and increased transaction transparency.

In the face of global economic uncertainty, Ripple sees digital assets as a foundation for the future financial system. While Trump's stance remains uncertain, the meeting sparked interest among crypto industry experts. Many believe that endorsement from high-profile figures could serve as a catalyst for broader governmental adoption of cryptocurrency technologies.

However, many questions remain about how this idea would be implemented and what steps the administration might take if it decides to pursue this initiative.

Not all leading experts support this idea. VanEck recently stated that Bitcoin (BTC) is the only cryptocurrency suitable for the U.S. reserve, arguing that it is fundamentally different from all other digital assets.

According to VanEck analysts, Bitcoin's uniqueness lies in its limited supply and decentralized nature, making it more resistant to inflation than other cryptocurrencies. Additionally, Bitcoin's immunity to manipulation has strengthened trust among institutional investors.

Moreover, Bitcoin enjoys unmatched liquidity, which secures its dominant position in the market. Meanwhile, many altcoins, including Ripple (XRP), could remain vulnerable in comparison to Bitcoin's superior position.

This image is no longer relevant

Bitcoin Technical Outlook

Buyers are currently targeting a return to the $103,000 level, which opens a direct path to $104,400, and from there, it is just a short step to $105,900. The ultimate target is the $107,400 level, a breakout above which would signal a return to a medium-term bullish market.

In the event of a Bitcoin correction, I expect buyers to emerge around $101,250. A drop below this level could quickly push BTC down to $99,500, bringing it closer to the $97,900 mark. The lowest target would be around $96,400.

This image is no longer relevant

Ethereum Technical Outlook

A clear consolidation above $3161 paves the way for a move to $3220, and from there, a push to $3264 is within reach. The ultimate target is the yearly high around $3314, a breakout above which would confirm a return to the medium-term bullish market.

In case of an Ethereum correction, I expect buyers to appear near $3106. A drop below this level could quickly send ETH towards $3056, with the final target at $2997.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Ethereum (ETH) Trading Recommendations for February 26th

Bitcoin has initiated a significant decline, which may only be the beginning of a larger bearish trend. As we have previously noted, the entire cryptocurrency market follows Bitcoin to some

Paolo Greco 05:53 2025-02-26 UTC+2

Bitcoin Trading Recommendations for February 26th

What we have been anticipating for weeks has now materialized. While many factors could have triggered Bitcoin's latest crash, analyzing them in detail won't make the situation any easier

Paolo Greco 05:49 2025-02-26 UTC+2

Bitcoin Losing Ground: Can the Market Be Saved by a Buy the Dip Strategy?

As the price falls, interest grows—this best describes the latest developments in the Bitcoin market. Despite the asset dropping to a three-month low, major players, including hedge funds and governments

Ekaterina Kiseleva 00:10 2025-02-26 UTC+2

Bitcoin and Ethereum: key factors behind their recent plunge

Bitcoin plunged by 6.5% and Ethereum lost over 7.0% in just the first half of today alone. As for Bitcoin, there had long been speculation about a break

Jakub Novak 14:09 2025-02-25 UTC+2

Cryptocurrency Market Trading Recommendations for February 25th (U.S. Session)

Bitcoin and Ethereum have experienced significant declines, with Bitcoin hitting a new yearly low and Ethereum testing the $2,300 mark after trading around $2,800 just days ago. The world's largest

Miroslaw Bawulski 13:56 2025-02-25 UTC+2

Upcoming Ethereum Network Upgrade Already in Testing

The cryptocurrency market has experienced a significant decline, closely following the U.S. stock market, which has lost considerable ground in recent trading days. Bitcoin dropped

Jakub Novak 09:17 2025-02-25 UTC+2

Trading Recommendations for the Cryptocurrency Market on February 25

Bitcoin has fallen from the $91,000 mark, raising concerns about its potential for further growth. Meanwhile, Ethereum has dropped over 7% in just one day, returning to a downtrend after

Miroslaw Bawulski 07:27 2025-02-25 UTC+2

Ethereum (ETH) Trading Recommendations for February 25, 2025

Bitcoin continues to trade within a restricted range, and as a result, Ethereum remains in a flat market as well. Over the past few weeks, Ethereum has shown a slightly

Paolo Greco 06:11 2025-02-25 UTC+2

Trading Recommendations for the Cryptocurrency Market on February 24

Bitcoin faced ongoing pressure throughout the weekend, struggling to break above the $96,000 mark. This could potentially trigger a larger sell-off in the near future. It is important to note

Miroslaw Bawulski 08:18 2025-02-24 UTC+2

Bitcoin and Ethereum Face Clear Challenges

The cryptocurrency market continues to test the patience of investors and traders. Bitcoin has struggled for weeks to break above $100,000, while Ethereum faces strong sell-offs at every attempt

Jakub Novak 08:12 2025-02-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback