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Why Xrp Is Skyrocketing To A New All-time High Today
XRP (CRYPTO: XRP) stock is posting another day of explosive gains in Thursday's trading. The cryptocurrency's token price was up 11.1% over the previous 24 hours despite sell-offs thanks to some exciting news.
Reports have emerged today that President-elect Donald Trump is considering XRP as part of a strategic U.S. cryptocurrency reserve. On the heels of today's gains, the token is up roughly 57% across 2025's trading and 476.5% over the last year.
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XRP surges to new high on U.S. cryptocurrency reserve hopes
Trump is reportedly considering using government funds to purchase cryptocurrencies including XRP and Solana to create a state cryptocurrency reserve. The project would be similar to the existing U.S. gold reserve -- but for cryptocurrencies and digital assets.
Trump had dinner with Ripple Labs CEO Brad Garlinghouse and its chief legal officer, Stuart Alderoty, on Jan. 6. Ripple is the financial technologies company that created the XRP cryptocurrency. Garlinghouse posted a message on X the next day and stated that it was a great dinner and a strong start to the year. The photo of the men together added to expectations that Trump would help create a more favorable operating and regulatory backdrop for Ripple and XRP. Excitement surrounding the token being part of the U.S. crypto reserve project has sent its price to a new all-time high today.
What comes next for XRP?
Political dynamics appear to be shifting in favorable directions for Ripple and XRP. While the Securities and Exchange Commission (SEC) met its deadline for filing a brief in its appeals case against Ripple for securities violations, some investors are betting that the filing will prove to be largely symbolic. There's a fair chance that bet will prove to be correct.
With the change in presidential administration, current SEC Chairman Gary Gensler will step down and be replaced by Trump's pick, Paul Atkins. Based on comments made by Trump and Atkins, it looks like the SEC will ease regulations and adopt a more supportive stance on the crypto industry in conjunction with the change in leadership. That could mean that Atkins will direct the agency to cease pursuing its case against Ripple.
Along with the potential for the case to be effectively dropped, the possibility that XRP will be a key component in a U.S. crypto reserve initiative creates another potentially explosive catalyst for the token in 2025. If the incoming president's new administration were to select XRP as a token for the state reserve, it's likely that the crypto would surge above its current record high.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Solana and XRP. The Motley Fool has a disclosure policy.
