- The United States is reportedly considering XRP and Solana in strategic reserve.
- Donald Trump has become the biggest crypto proponent and might introduce key policy shifts.
Ripple’s associated coin, XRP, and Solana (SOL) could soon enter the United States as reserve assets. A recent report reveals that Donald Trump is considering adding more cryptocurrencies, including XRP and Solana, as part of the US-first strategic reserves.
A Potential US Strategic XRP and SOL?
The idea of the US developing a crypto strategic reserve began with Bitcoin (BTC), the world’s leading digital asset. With Trump set to take over the White House on January 20, the crypto community is watching to see the implications on the industry.
According to reports from the New York Post, Trump plans to release pro-crypto executive orders upon his resumption. These executive orders include revoking the controversial crypto accounting policy, SAB 121.
However, a source familiar with the matter said there is one major controversy regarding establishing a US strategic crypto reserve. The undisclosed source said Trump is considering prioritizing cryptocurrencies native to the US, like XRP, SOL, and USDC, for his strategic reserve.
They pointed out that Trump recently met with the founders of these digital assets and is receptive to the idea. Brad Garlinghouse, Ripple’s CEO, and CLO Stuart Alderoty discussed with Trump at the Mar-a-Lago resort.
Anonymous insiders have expressed concerns regarding the potential XRP and SOL strategic reserves. They are worried that it would undermine attempts to promote Bitcoin. Many crypto participants want Trump to prioritize the flagship crypto and announce a Bitcoin strategic reserve in the first quarter of 2025.
Despite the internal disagreements, the community believes Trump’s new government will herald a “crypto golden age.”
Trump has already set a new tone for the industry: “It’s a radical shift — America is so back in business for crypto founders,” says Bitcoin investor and media personality Frank Chaparro.
What to Expect Under Donald Trump’s New Government
The crypto community has high expectations that Donald Trump will issue crypto executive orders on his first day in office. Moreover, they also expect a major crypto regulatory shift with the new leadership at the US Securities and Exchange Commission (SEC).
As detailed in our last news piece, the agency might change its tough stance on crypto regulation with the emergence of Trump’s new government. Already, Donald Trump has hired an eminent SEC official, Paul Atkins, a recognized proponent of Bitcoin innovation.
Furthermore, the long-standing lawsuit between SEC and Ripple Labs could end under a pro-crypto government. The conclusion of this case could open the door for introducing an XRP Exchange-Traded Fund (XRP).
Also, Trump will likely repeal the controversial accounting rule – SAB 121. This will allow US banks to work closely with crypto firms, expanding the industry’s reach to traditional finance.
The Non-Fungible Token (NFT) sector could also take a new leap under the new administration. As reported last week, Trump recently released 160 new NFT collections on the Bitcoin network. While the release marks his first venture into Bitcoin-based digital collectibles, Trump plans to release more.
His endorsement of this novel asset class has set a precedent for other prominent figures.
