The push for a Strategic Bitcoin Reserve (SBR) has been
ongoing for months. Recently, Pierre Rochard, VP of Research at Riot Platforms,
criticized Ripple Labs for actively lobbying against the plan. Rochard claimed
Ripple Labs is spending millions to influence politicians and hinder the
creation of the SBR, Coingape reported.
Meanwhile, the XRPUSD H1 chart shows that after finding
support at a critical level, the price has been going up and is heading towards
the resistance of a bearish trendline.
Rochard argued that the biggest obstacle to the SBR is not
the Federal Reserve, US Treasury, or banks, but Ripple Labs. He emphasized that
Ripple’s focus on XRP is behind the opposition to the reserve. He also pointed
to Ripple’s previous attacks on Bitcoin mining under President Biden’s
administration, suggesting Ripple aims to protect its platform and promote
Central Bank Digital Currencies (CBDCs).
Unless you are choosing to ignore the core tenants of the POTUS campaign (which aggressively supports American companies and technologies), our efforts are actually INCREASING the likelihood of a crypto strategic reserve (which includes bitcoin) happening.
— Brad Garlinghouse (@bgarlinghouse) January 23, 2025
In response, Ripple CEO Brad Garlinghouse dismissed
Rochard’s claims, suggesting that Rochard is overlooking President Trump’s
campaign promises to support American companies and technologies. Garlinghouse
stated that Ripple’s efforts align with increasing the likelihood of a crypto
reserve, including Bitcoin .
XRPUSD Forms Bullish Engulfing, Eyes Resistance
The XRPUSD H1 chart shows that the price bounced at 3.05450,
forming a bullish engulfing candle. Since then, it has been moving upwards with
strong momentum. The chart also highlights a bearish trendline in play. Traders
should monitor the price action around the trendline’s resistance. A bullish
breakout could provide additional momentum, pushing the price further north.
XRPUSD, H1 Chart, Source: TradingView
Pro-Crypto Regulators Appointed on Inauguration Day
The exchange took place shortly before President Trump
signed an executive order to create a national digital asset stockpile. The
move was a significant step for the crypto industry, though it has caused some
backlash from Bitcoin advocates. The President’s decision to exclude a single
asset reserve and include altcoins, including XRP, has drawn attention.
On inauguration day, the White House named Mark Uyeda as
acting chairman of the US SEC and Caroline Pham as the Chairman of the CFTC.
Both regulators are known for their pro-crypto stance and were endorsed by
industry leaders.
Meet Mark Uyeda
New Acting Chair of SEC pic.twitter.com/S0RbIZZO8K
— Mr. Intuitive 🏴☠️ (@BlackberryXRP) January 20, 2025
Why Is XRP Going Up Today?
XRP’s price rise today is influenced by several factors,
including speculation about a shift in the SEC’s stance under Trump, the
potential approval of XRP spot ETFs, and the launch of Ripple Labs’ RLUSD
stablecoin. Technical analysis highlights key support levels at $2, $2.25,
$2.50, and $3.
What Could XRP’s Price Be by 2025?
XRP price predictions for 2025 vary widely. Conservative
estimates range from $1.35 to $2.50, while analysts like Levi Rietveld suggest
a range of $20–23. Optimistic projections reach as high as $70.
Is a $500 XRP Price Realistic?
A $500 XRP price appears unlikely in the near term,
requiring a $26 trillion market cap. More realistic estimates suggest a range
of $15–25 by 2030. Some, like Grok AI, believe $500 could be achievable
post-2030 with widespread global payment adoption.
Does XRP Have Long-Term Potential?
XRP shows potential, particularly in fintech, due to its
role in cross-border payments and growing partnerships in Asia, Africa, and
Latin America. By 2027–2028, it may see further integration into traditional
finance systems.
The push for a Strategic Bitcoin Reserve (SBR) has been
ongoing for months. Recently, Pierre Rochard, VP of Research at Riot Platforms,
criticized Ripple Labs for actively lobbying against the plan. Rochard claimed
Ripple Labs is spending millions to influence politicians and hinder the
creation of the SBR, Coingape reported.
Meanwhile, the XRPUSD H1 chart shows that after finding
support at a critical level, the price has been going up and is heading towards
the resistance of a bearish trendline.
Rochard argued that the biggest obstacle to the SBR is not
the Federal Reserve, US Treasury, or banks, but Ripple Labs. He emphasized that
Ripple’s focus on XRP is behind the opposition to the reserve. He also pointed
to Ripple’s previous attacks on Bitcoin mining under President Biden’s
administration, suggesting Ripple aims to protect its platform and promote
Central Bank Digital Currencies (CBDCs).
Unless you are choosing to ignore the core tenants of the POTUS campaign (which aggressively supports American companies and technologies), our efforts are actually INCREASING the likelihood of a crypto strategic reserve (which includes bitcoin) happening.
— Brad Garlinghouse (@bgarlinghouse) January 23, 2025
In response, Ripple CEO Brad Garlinghouse dismissed
Rochard’s claims, suggesting that Rochard is overlooking President Trump’s
campaign promises to support American companies and technologies. Garlinghouse
stated that Ripple’s efforts align with increasing the likelihood of a crypto
reserve, including Bitcoin .
XRPUSD Forms Bullish Engulfing, Eyes Resistance
The XRPUSD H1 chart shows that the price bounced at 3.05450,
forming a bullish engulfing candle. Since then, it has been moving upwards with
strong momentum. The chart also highlights a bearish trendline in play. Traders
should monitor the price action around the trendline’s resistance. A bullish
breakout could provide additional momentum, pushing the price further north.
XRPUSD, H1 Chart, Source: TradingView
Pro-Crypto Regulators Appointed on Inauguration Day
The exchange took place shortly before President Trump
signed an executive order to create a national digital asset stockpile. The
move was a significant step for the crypto industry, though it has caused some
backlash from Bitcoin advocates. The President’s decision to exclude a single
asset reserve and include altcoins, including XRP, has drawn attention.
On inauguration day, the White House named Mark Uyeda as
acting chairman of the US SEC and Caroline Pham as the Chairman of the CFTC.
Both regulators are known for their pro-crypto stance and were endorsed by
industry leaders.
Meet Mark Uyeda
New Acting Chair of SEC pic.twitter.com/S0RbIZZO8K
— Mr. Intuitive 🏴☠️ (@BlackberryXRP) January 20, 2025
Why Is XRP Going Up Today?
XRP’s price rise today is influenced by several factors,
including speculation about a shift in the SEC’s stance under Trump, the
potential approval of XRP spot ETFs, and the launch of Ripple Labs’ RLUSD
stablecoin. Technical analysis highlights key support levels at $2, $2.25,
$2.50, and $3.
What Could XRP’s Price Be by 2025?
XRP price predictions for 2025 vary widely. Conservative
estimates range from $1.35 to $2.50, while analysts like Levi Rietveld suggest
a range of $20–23. Optimistic projections reach as high as $70.
Is a $500 XRP Price Realistic?
A $500 XRP price appears unlikely in the near term,
requiring a $26 trillion market cap. More realistic estimates suggest a range
of $15–25 by 2030. Some, like Grok AI, believe $500 could be achievable
post-2030 with widespread global payment adoption.
Does XRP Have Long-Term Potential?
XRP shows potential, particularly in fintech, due to its
role in cross-border payments and growing partnerships in Asia, Africa, and
Latin America. By 2027–2028, it may see further integration into traditional
finance systems.
