Trump's Crypto Reserve Boosts XRP 24% as Market Surges

The XRP price has surged by 24% following recent announcements regarding the US Strategic Reserve. This rally comes as Ripple CEO Brad Garlinghouse praises US President Donald Trump's vision for a government digital asset reserve that includes XRP, SOL, and ADA. The crypto market has seen heightened activity, with XRP's daily trading volume increasing by 427% to $19.16 billion and open interest spiking by 30% to $4.16 billion.

Trump's comments on Truth Social, stating that a US Crypto Reserve will elevate the industry, have sparked a wave of optimism among crypto enthusiasts. The choice of XRP, SOL, and ADA in the reserve indicates a shift towards preferring blockchain networks with utility and scalability. Garlinghouse has expressed appreciation for Trump's vision and emphasized the importance of unity within the crypto industry to achieve its goals.

The XRP price has broken out of a descending parallel channel, signaling intense buying pressure. Although the price has retraced from recent highs, it remains above key support zones. Strong trading volume suggests active interest in the market, despite short-term price swings. Analysts predict that if the bulls can sustain the price above the 50-day moving average at $2.72, there is potential for further upside, with resistance levels at $2.84, $3.14, $3.35, and $3.70.

However, traders should remain cautious, as a failure to hold the 50-day moving average as support could lead to a retest of $2.18 and a potential deeper pullback. The current uptrend remains intact, but traders should watch for increased volume and momentum confirmation to determine the next major price direction.