XRP News Today: Ripple Lawyer Denies U.S. Plans to Seize XRP Escrow

Ripple-affiliated lawyer Bill Morgan has addressed recent rumors suggesting that the U.S. government might seize Ripple's XRP escrow for use in the national financial reserve. Morgan has categorically denied these speculations, stating that there is no basis for such claims. The rumors began circulating after online influencers proposed that the U.S. could utilize XRP as part of a broader strategy to support its financial system in the digital age. Morgan's response was clear and unequivocal: "No, it won’t."

These rumors gained traction following Ripple's release of 1 billion XRP from escrow in early June. The tokens were distributed across three large transactions, valued at over $2.2 billion. This move, combined with discussions around a potential U.S. strategic crypto reserve, has fueled further speculation. Some analysts have compared the possibility of XRP being included in the reserve to the once-unlikely approval of Bitcoin ETFs, but Morgan remains skeptical.

Another layer of speculation involves the Federal Reserve's potential use of XRP for payments through its FedNow instant payment system. A viral post claimed that the Federal Reserve is already using XRP, stating, “Not a test. Not a rumour. 100% confirmed.” However, there is no official confirmation from the Federal Reserve or Volante Technologies, a partner in the FedNow pilot program, regarding the use of XRP for all transactions. Volante Technologies has integrated Ripple's technology for cross-border payments, but this does not confirm the use of XRP itself by the Fed.

These rumors are part of a broader discussion about the U.S. government's strategic crypto reserve plans. After introducing the Strategic Bitcoin Reserve proposal, President Donald Trump hinted at potential plans to include altcoins like XRP, SOL, and ADA. The ongoing XRP lawsuit settlement, which is nearing its conclusion, has also fueled speculation about the token's potential inclusion in the U.S. reserve. The community's optimism is driven by the clarity on XRP’s regulatory status, which could pave the way for its inclusion in the national financial reserves.

Despite these speculations, it is important to note that Ripple's technology is gaining traction in serious infrastructure, particularly with its integration into cross-border payment systems. However, claims related to U.S. reserves and the Fed remain unverified, and concrete evidence is needed to substantiate such statements about XRP. Morgan's denial serves as a reminder that while speculation can be intriguing, it is essential to rely on verified information and official statements.