The post Ripple’s XRP Could Join U.S. Reserve, But Only If It Reaches This Price appeared first on Coinpedia Fintech News
The talk about Ripple’s (XRP) to be involved in the U.S. digital reserve is getting everyone excited! Pro-XRP lawyer Fred Rispoli made an interesting statement about the inclusion of XRP. He outlined the target for XRP to reach if it needs to qualify for the race of US reserve.
How XRP Can Be Part of a U.S. Reserve?
In a recent tweet post, Fred Rispoli said that XRP would need to hit a price of $5 to qualify for inclusion in such a reserve alongside Bitcoin.
Rispoli’s comment came in response to Santiago Velez, the Co-Founder of Block Digital, who pointed out that Utah House Bill 230 is not focused solely on Bitcoin as a crypto reserve asset, leaving the door open for other cryptocurrencies like XRP to be considered.
Instead, the bill gives state treasurers the power to invest public funds in certain digital assets.
Rispoli clarified that while the law is currently structured in a way that only Bitcoin qualifies, XRP would join the race of qualification only if its price reaches $5.
XRP To Be Included in a Strategic Reserve: Ripple CEO
The discussion around XRP’s involvement in state reserves is tied back to a statement made by Ripple CEO Brad Garlinghouse earlier stating that if a government were to create a digital asset reserve, it should be diversified and not limited to just one cryptocurrency, whether it’s Bitcoin, XRP, or any other.
Meanwhile, there are ongoing talks that Garlinghouse might be on former President Donald Trump’s shortlist for a crypto advisory council. If true, this could be a major bullish factor for XRP.
Can XRP Price Reach $5?
XRP, like most crypto assets, has faced volatility in recent weeks, dropping nearly 25% to $1.80, but it has since recovered a lot. As of now, XRP is trading at $2.41, showing a 1.5% daily increase.
For XRP to maintain momentum, it needs to stay above its 50-day SMA (Simple Moving Average). If this happens, analysts believe XRP could reach key Fibonacci levels of $3.52, $4.52, and eventually $5.5.
Adding to the bullish outlook, multiple XRP spot ETF applications have been filed, raising hopes that XRP could eventually reach double-digit prices.
