XRP News Today: Trump’s Crypto Reserve Plan Sends XRP Soaring; BTC Hits $96K

XRP Soars on Crypto Reserve Announcement

On Sunday, March 2, US President Trump announced plans for a crypto strategic reserve asset, stating:

“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve Asset that includes XRP, SOL, and ADA. I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN.”

Trump later expanded the list, including bitcoin (BTC) and ethereum (ETH) as part of the reserve assets.

White House A.I and Crypto Czar David Sacks commented:

“President Trump has announced a Crypto Strategic Reserve consisting of Bitcoin and other top cryptocurrencies. This is consistent with his week-one E.O. 14178. President Trump is keeping his promise to make the US the “Crypto Capital of the World.” More to come at the Summit.”

The announcement fueled a Sunday breakout, with XRP climbing to a session high of $3.0018, its highest level since February 1.

There were no further details, such as how much XRP the US government plans to acquire, nor the process to formally include cryptos as strategic reserve assets. Nevertheless, the prospect of the US government buying and hodling XRP was a significant development. This could:

• Pressure the SEC to withdraw its appeal, challenging the Programmatic Sales of XRP ruling in the Ripple case.
• Support the approval of XRP-spot ETFs, potentially creating a new institutional demand source.

The White House’s first crypto summit is on Friday, March 7.

XRP Price Trends: All Eyes on the SEC

On Sunday, March 2, XRP soared 34.18%, following Saturday’s 2.16% gain, closing at $2.9420. XRP outperformed the broader market, which gained 11.05%, taking the total crypto market cap to $3.09 trillion. Trump’s plans to include XRP as a strategic reserve asset and hopes for a resolution in the Ripple case drove investor demand.

XRP’s price trajectory now hinges on three key factors:

• US Strategic Reserve Asset: Further details on the US Crypto Strategic Reserve could impact XRP demand.
• SEC Appeal Strategy: A dropped appeal could send XRP past its all-time high of $3.5505, while ongoing legal uncertainty might push prices below $1.50.
• XRP-Spot ETF Developments: Approval of an XRP-spot ETF could drive institutional inflows, potentially lifting XRP toward $5.

Read expert analysis on what could drive XRP to new highs here.

Bitcoin Rebounds on Trump’s Strategic Reserve Announcement

On March 2, BTC rallied after President Trump’s crypto strategic reserve asset announcement. Notably, BTC avoided a sharp reversal after Trump’s first announcement, which omitted bitcoin and ethereum. However, BTC surged following Trump’s confirmation of its inclusion.

Despite the momentum, BTC remained below $100,000 for the 23rd consecutive session, reflecting uncertainty over the reserve’s structure.

A potential path for Bitcoin’s inclusion as a Strategic Reserve Asset could come through Congressional legislation. Senator Cynthia Lummis introduced the Bitcoin Act, proposing the US government acquire one million BTC over five years, with a 20-year mandatory holding period.

Alternatively, the Exchange Stabilization Fund (ESF) could be used to facilitate crypto purchases. The US Treasury Secretary would need to determine that acquiring cryptocurrencies serves the ESF’s purpose of stabilizing exchange rates. US President Trump would need to approve the decision.

Additionally, the Treasury Department may need to assess whether acquiring crypto via the ESF falls within the ESF’s statutory authority. If new legislation is required, bipartisan support will be critical, potentially delaying the process. Investors await details at Friday’s Crypto Summit.

Bitcoin Price Outlook: Key Scenarios

On March 2, BTC rallied 9.44%, following Saturday’s 2.16% gain, closing at $94,322.

On Monday, March 3, investors should monitor crypto strategic reserve asset-related developments. Progress on the Bitcoin Act could significantly affect market sentiment. Amicus Curiae attorney John E. Deaton recently speculated on the potential impact of Congress approving the Bitcoin Act, stating:

“If the US Government (USG) passes Senator Lummis’ Bill and begins buying BTC, it will no doubt cause other nations to follow suit, just like with gold. It could literally create Nation State FOMO, and if that occurs, $1M per BTC happens a lot faster than people think.”

Potential price scenarios:

• Bearish Scenario: Trade tensions, strong US economic data, a hawkish Fed, and resistance to a US crypto strategic reserve asset could pull BTC below 80,000.
• Bullish Scenario: Easing trade tensions, weaker economic data, dovish Fed signals, and bipartisan support for a crypto strategic reserve asset could drive BTC past its all-time high of $109,312.

Market Outlook: Key Catalysts to Watch

Several key factors will influence the crypto market’s next moves:

1. The SEC’s decision on its Ripple appeal.
2. US tariff policies and inflation trends.
3. US economic data and Fed policy shifts.
4. Progress on the US crypto strategic reserve asset.
5. BTC-spot ETF demand.

A withdrawal of the SEC’s appeal in the Ripple case could trigger a broad market rally. Meanwhile, clarity on a US crypto reserve could accelerate institutional adoption.

Stay updated with our latest insights here.