XRP's $5 Market Cap Target for U.S. Crypto Reserve

Legal Expert Says XRP Needs to Hit $5 to Join U.S. Crypto Reserve

In a recent development, a legal expert has weighed in on the potential inclusion of XRP in a U.S. crypto reserve, suggesting that the digital asset would need to reach a market capitalization of $5 to qualify. This insight comes amidst a broader discussion on state-level Bitcoin reserves and the criteria for inclusion in such reserves.

Dennis Porter, a prominent Bitcoin advocate and CEO of Satoshi Action Fund, recently announced on social media that Utah’s House of Representatives had passed a bill he referred to as the “Strategic Bitcoin Reserve” bill. However, crypto enthusiast Justin Bechler responded critically, asserting that the bill, Utah House Bill 230 (H.B. 230), does not reference Bitcoin at all and specifically prohibits digital assets classified as money transmitters.

After reviewing the bill, an XRP user named Ron Swan added that, at present, only Bitcoin qualifies under the bill’s provisions. Fred Rispoli, a legal expert in the cryptocurrency space, concurred, stating that while Bitcoin is currently the only asset that fits the bill’s parameters, other cryptocurrencies, such as XRP, could qualify if they reach a certain market cap threshold.

Porter has long advocated for state-level Bitcoin reserves, predicting in January 2025 that up to 20 such bills would be introduced across various states. However, the misrepresentation of Utah H.B. 230 as a “Strategic Bitcoin Reserve” bill underscores the challenges in effectively communicating legislative initiatives.

While Bitcoin appears to be the only cryptocurrency that meets the bill’s current requirements, additional insights from figures like Rispoli indicate that other digital assets, such as XRP, could qualify if they reach a certain market cap threshold. This discussion highlights the importance of accuracy in crypto policy discussions and the potential for other cryptocurrencies to join U.S. crypto reserves in the future.