Donald Trump Eyes XRP Inclusion in US Strategic Crypto Reserve: Ripple’s Big Breakout Ahead?

The crypto market has been a buzz ever since Donald Trump announced his pro-crypto stance and the creation of the US strategic crypto reserve. Ripple (XRP) specifically has garnered attention since Donald Trump mentioned it as one of the ‘most valuable’ cryptos for the strategic reserve.  XRP was addressed alongside other mainstream cryptocurrencies like Bitcoin, Solana, and Cardano. However, questions are now being raised about XRP’s place and utility in the strategic reserve.

XRP was originally designed to provide interbank settlement solutions. It provides three enterprise solutions – xViax, xCurrent, and xRapid, an On-Demand Liquidity that facilitates cross-border transactions with the help of the Ripple network. However, only xRapid requires you to hold the XRP token, while the other two services allow banks to use the Ripple network without XRP adoption. 

Investors Highlight Key Issues: ‘XRP Value is Utility Driven, Not Independent’

Questions are being raised about Ripple’s token supply and working model. Since the Ripple network can be used without holding the token, large-scale bank XRP adoptions won’t necessarily dictate XRP prices. In addition, the Bitcoin vs XRP feud continues, as Bitcoiners have also cast doubts on XRP’s independent value. For example, Bitcoin is a neutral asset like gold, whereas Ripple’s value is dictated by its usage. Also, Ripple operates on a permissioned network, where a set of validators approve every transaction. This has also led to questions about security.

To add to that, Ripple Labs, the company, holds around 55% of the total market supply, which essentially nullifies its decentralized nature. This has created doubts in the minds of investors regarding market movements and XRP’s long-term stability. For now, it looks like Ripple still comes off as a banking solution instead of an independent currency that is a store of value. How will Ripple come to be of utility to the US strategic crypto reserve remains to be seen. 

XRP Price Analysis of the Last 24 Hours

At the onset of the day, XRP was trading at $2.30. A golden cross at 23:30 had already booked a skyward ride for Ripple, as an uptrend spawned. By 4:15, XRP was trading at just upward of $2.36. However, during its ascent, the RSI would venture into the overbought territory twice, at 00:50 UTC and 3:55 UTC, calling for a reversal trend. As buying pressure lost steam, the RSI slithered down and a death cross appeared on the MACD, taking XRP to $2.31 by 6:30 UTC. Ripple was again in oversold conditions. 

As the reversal commenced, the upward trend was met by a few corrections, eventually finding resistance at $2.35. XRP continued to test the resistance after short downturns but to no avail. Finally, at 15:05, XRP stood at $2.31, as a notable golden cross formed on the MACD. XRP then tested resistance again and eventually breached it after a brief reversal. The uptrend continued until XRP reached $2.377 by 18:50 UTC.  The RSI was now in the overbought region, and a timely death cross had already signaled a change in the proceedings as an extended downturn ensued, leading XRP to find support at $2.28 by the early hours of March 18. 

XRP Price Prediction for Today: Can XRP Challenge Resistance Again?

XRP price has tested resistance at $2.35 multiple times before finally breaching it, peaking at $2.377, and then reversing downward. Currently, XRP has support at $2.28, suggesting a potential rubberband effect if bullish momentum is sustained. If XRP breaks the $2.30 barrier, an uptrend toward the $2.35 resistance is likely. However, if the bearish trend persists, XRP may as well be working with a $2.25 support in the coming time. Investors are highly recommended to conduct their research of the market before making investment choices.