XRP News Today: Ripple Lawyer Dismisses US Government XRP Reserve Rumors

Ripple lawyer Bill Morgan has firmly dismissed rumors circulating about the US government's potential seizure of Ripple's XRP escrow reserves. These rumors, which have been gaining traction on social media, suggest that the US government might incorporate XRP tokens into its national financial reserves. Morgan's clear and concise denial, "No, it won’t," effectively quashed any speculation about such plans.

The rumors gained momentum following Ripple's release of 1 billion XRP from escrow, which was distributed in three transactions: 500 million, 300 million, and 200 million XRP. This move, while routine for Ripple, sparked further speculation about the potential use of XRP by the US government.

In addition to the escrow rumors, there have been speculations that the Federal Reserve might be using XRP for payments through its FedNow instant payment system. However, there is no official confirmation from the Federal Reserve regarding this. While Volante Technologies, a partner in the FedNow pilot program, has integrated Ripple’s blockchain for cross-border payments, this does not confirm the use of XRP for all transactions.

The rumors about the US government's potential seizure of XRP escrow reserves come at a time when the government is exploring strategic crypto reserve plans. President Donald Trump has hinted at the possibility of including altcoins like XRP, SOL, and ADA in the national reserve. The ongoing XRP lawsuit settlement, which is nearing its conclusion, has also fueled speculation about the token's potential inclusion in the US reserve. The clarity on XRP’s regulatory status has added to the optimism within the community.

Despite these speculations, it is important to note that there is no concrete evidence to support claims about the US government's use of XRP for reserves or payments. Ripple's technology, particularly its integration into cross-border payment systems, is gaining traction in serious infrastructure. However, without official confirmation, such claims remain unverified.

The denial by Ripple lawyer Bill Morgan serves as a reminder that speculation, while common in the crypto world, should be approached with caution. The lack of official confirmation from the US government or the Federal Reserve underscores the need for concrete evidence before drawing conclusions about the use of XRP in national financial reserves or payment systems.