As 2024 draws to a close, XRP is showing signs of recovery after a bearish slump, with its price climbing to $2.30—up over 16% in the past 24 hours. While the recent price action indicates a slight dip in the past week, XRP’s modest recovery has fueled optimism. Adding to the intrigue is the growing speculation about Donald Trump’s alleged cryptocurrency investments, which could have a significant impact on XRP’s value.
Trump’s Crypto Investments: A Game Changer for XRP?
Mark Yusko, founder of Morgan Creek Capital Management, recently highlighted that Donald Trump and his son, Eric, have been actively acquiring digital assets, including Bitcoin (BTC), Hedera (HBAR), and Ripple’s XRP. According to Yusko, these investments, particularly in HBAR and XRP, could position Trump at the forefront of approval efforts for cryptocurrency ETFs, further legitimizing digital assets like XRP.
🚨BREAKING: Famous hedge fund manager confirms that President Trump is buying $HBAR and $XRP
— Shawn (@oroogle) December 20, 2024
This intensifies the earlier testimony by someone close to the Trump transition team regarding Trump planning a national reserve of made in America 🇺🇸 cryptocurrencies under the… pic.twitter.com/Y49taNQI0u
Trump’s increasing involvement in the crypto market has sparked discussions about how it might positively influence XRP’s price. On-chain analyst Ali Martinez reported that whales have accumulated over 80 million XRP since the price correction began on December 17. This strong buying pressure indicates a renewed interest in XRP, possibly fueled by speculation around Trump’s crypto portfolio.
XRP’s Potential Bull Run: Could History Repeat Itself?
Crypto analysts are optimistic that XRP could repeat its 2017 bull run, with predictions suggesting a potential price surge to $8–$13. A recent analysis comparing XRP’s price trends in 2017 and 2024 highlights a strong correlation, indicating that XRP might soon see another major rally. The excitement surrounding these predictions has ignited optimism among XRP holders, who are eagerly awaiting the next market movement.
Yusko’s Skepticism and the Future of XRP
Despite the growing interest in XRP, Mark Yusko remains skeptical about its long-term potential. He criticized XRP and Cardano for lacking significant innovation, and although he’s optimistic about a shifting U.S. government stance on digital currencies, he questions whether XRP can sustain its position in the market.
Rumors also suggest that Trump’s administration may push to include XRP and HBAR in a national crypto reserve, potentially classifying these assets as “American Commodities.” Such a move could strengthen the U.S.’s standing in the global crypto market, further boosting XRP’s prospects.
🚨BREAKING: According to sources close to the Trump transition team, President Trump is considering building a strategic national reserve of American cryptocurrencies such as $XRP and $HBAR next to Bitcoin
— Shawn (@oroogle) December 18, 2024
President Trump reportedly believes that these are „American Commodities“… pic.twitter.com/FnKQ34yCpU
As XRP’s price rebounds and speculation intensifies around Trump’s crypto strategy, it’s clear that the token’s future remains a subject of intense interest and debate.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: XRP Whales Stock Up 80M Coins Amid Market Dip: Bullish Momentum Builds for Ripple’s Future
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