XRP is closing the year on an optimistic note, demonstrating signs of recovery following a bearish period. Recent revelations that Donald Trump’s fund might be investing in XRP have ignited discussions about the potential impact on the token’s value. Currently trading at $2.30, XRP has surged over 16% in the last 24 hours, rebounding from a minor dip earlier this week.
Is Trump Betting Big on Crypto?
The cryptocurrency community is abuzz with speculation following claims by Mark Yusko, the founder of Morgan Creek Capital Management. Yusko recently suggested that Donald Trump and his son Eric have been actively investing in digital assets such as Bitcoin (BTC), Hedera (HBAR), and Ripple’s XRP. He believes these investments could position Trump as a major player in the cryptocurrency markets, especially with potential ETF approvals for HBAR and XRP looming on the horizon.
Whales Are Buying XRP
Rumors of Trump’s involvement in crypto might be boosting optimism around XRP. On-chain analyst Ali Martinez reported that whales have purchased 80 million XRP since the recent price correction began on December 17, indicating strong interest from large investors. This activity is reminiscent of the 2017 bull run, leading some analysts to predict a similar rally that could push XRP’s price to between $8 and $13. This historical precedent has encouraged XRP holders to anticipate a substantial price increase.
Adding to the intrigue, Yusko mentioned rumors of a potential exemption for U.S.-based cryptocurrencies from capital gains tax. If such an exemption is enacted, it could dramatically alter the treatment of cryptocurrencies in the U.S. and reshape the future of the market.
XRP’s Potential vs. Yusko’s Criticism
Despite the excitement, Yusko has expressed skepticism regarding XRP’s long-term potential, criticizing both XRP and Cardano for their perceived lack of groundbreaking innovation. Nonetheless, he remains hopeful about the evolving stance of the U.S. government towards cryptocurrencies. Influential figures like Scott Bessent and the prospective new SEC chair have shown support for digital assets, which may indicate upcoming regulatory changes.
The Road Ahead for XRP
Speculation is mounting that Trump’s team may consider incorporating XRP and HBAR into a national cryptocurrency reserve. A Hedera supporter named Shawn claimed that the administration intends to classify these tokens as “American Commodities” to bolster the U.S.’s standing in the global crypto market. This strategic move could signal a significant shift in how the U.S. approaches digital assets.
Whether driven by whales, historical patterns, or high-profile endorsements, XRP’s future is set to captivate market observers and investors alike. The journey promises to be an intriguing one, as stakeholders continue to speculate about the potential outcomes of these developments.
