Bitcoin and cryptocurrencies, including Ripple’s XRP and Ethereum rival Solana, have soared since Donald Trump’s election (with the market set for a bombshell next week).
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The value of Bitcoin, which is currently hovering around $100,000 per bitcoin, has more than doubled in the past year, bringing the combined Bitcoin, Ethereum, XRP, Solana, and Crypto market to nearly $4 trillion, as positive investors increase their bets. Trump plays along with his plans for a US Bitcoin reserve
Now, as the Federal Reserve faces a nightmare scenario, a leak has revealed that Trump’s new management would possibly create a broader crypto reserve, prioritizing U. S. -created cryptocurrencies such as XRP and Solana.
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U. S. President-elect Donald Trump appeared remotely for a sentencing hearing earlier this month as Bitcoin and crypto investors prepare for his inauguration next week, sending the value of XRP, solana and other coins soaring.
An “America-first strategic reserve” would back solana, a competitor to the more established ethereum, the USDC stablecoin issued by Circle and supported by major crypto exchange Coinbase, and XRP, developed by the company Ripple to facilitate cross border payments, it was reported by the New York Post, citing anonymous sources.
The Post described Trump as “receptive” to the idea following meetings with Ripple chief executive Brad Garlinghouse and Coinbase’s Brian Armstrong.
Earlier this month, Circle CEO Jeremy Allaire posted on administration.
In July, then Republican candidate Donald Trump promised to create a “strategic national bitcoin reserve” and predicted bitcoin could eclipse gold’s $16 trillion market capitalization during an appearance at the Bitcoin 2024 conference.
Ripple’s value could simply soften.
“Compared to other cryptocurrencies, XRP has shown remarkable force,” said Arthur Azizov, general director of the Crypto B2binpay platform, in comments sent by email. “While others have experienced setbacks, XRP has simply accumulated silently and now tends towards its historical maximum, which will probably overcome. “
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The Bitcoin value has higher, which has higher in the XRP, Solana and broader market.
This week a Reuters report that said the U.S. Securities and Exchange Commission (SEC) is gearing up to overhaul the agency’s cryptocurrency policies, citing anonymous sources.
“Taking into account recent events, such as the reports that Trump considers XRP as a strategic reserve and its growing popularity in Google searches, where Bitcoin surpasses, XRP’s prospects are clear,” said Azizov, predicting that the XRP value will increase to more than $ 10 by 2025.
Meanwhile, Ethereum rival Solana has risen to the top as investors bet that a more crypto-friendly SEC will face an avalanche of budget quoted by the cryptocurrency exchange (ETF).
“The value of Solana has increased well above the 200 dollars due to the hypothesis on a potentially imminent approval for a Solana ETF,” said Chris Chung, founder of Solana Exchange Titan, in comments sent by email, highlighting four proposals that have the upcoming deadlines. , January 25.
“But we want to take into account that an approval on the 25th is not guaranteed and that if these initial proposals are rejected, it could cause liquidation,” Chung said. “Similarly, we have recently noticed many cases in which investors are buying the rumor and promoting the news, which may be the case of the ETF of Solana. Ultimately, it is worth preparing for greater volatility, be it Whatever the decision. “
Wall Street giant BlackRock has been running a crusade to land a Bitcoin ETF Spot in the United States in 2023, with a Bitcoin budget float in January last year, followed via an Ethereum budget line .
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