XRP token is experiencing a significant decline, dropping 10.3% since Sunday’s announcement by President Trump about a “Crypto Strategic Reserve.” The reserve would involve purchasing additional digital assets, potentially injecting capital into the market.
Initially, XRP saw a massive increase of over 30% after President Trump mentioned Bitcoin and other cryptocurrencies in his post. However, doubts have begun to creep in regarding the feasibility of the reserve, particularly for XRP. Critics argue that investing tax dollars in volatile assets is not prudent, especially considering the growing national debt.
The reserve’s setup and the need for Congressional approval are also major concerns. Despite these reservations, many were optimistic about the prospect of a reserve. Now, with XRP falling, investors are left wondering if they missed their chance to invest in this opportunity.
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Source: https://www.nasdaq.com/articles/why-xrp-ripple-plummeting-today