Market News

XRP Soars Toward 2017 Highs as Brad Garlinghouse Advocates for Federal Altcoin Reserves in Crypto Comeback

Brad Garlinghouse, cryptocurrency recovery, federal crypto reserve, Market volatility, Ondo Finance, Ripple, XRP

Ripple’s XRP is bouncing back after a significant drop triggered by the release of a low-cost Chinese AI called DeepSeek. It fell from $3.14 to $2.75, impacting both tech stocks and cryptocurrencies. Currently, XRP is trading at $3.19, just a bit below its all-time high of $3.40 from January 2018. Ripple CEO Brad Garlinghouse has emphasized the need for a federal crypto reserve that includes various altcoins like XRP, advocating for a cooperative approach in the crypto industry rather than a competitive one. Additionally, Ondo Finance plans to launch its Short-Term US Government Treasuries fund on the XRP Ledger, signaling further developments for the asset.



Ripple’s XRP Sees Recovery Amid Market Volatility

Ripple’s XRP is currently experiencing a resurgence after a significant Market downturn triggered by the launch of DeepSeek, a cost-effective AI model from China.

Over the weekend, XRP faced a sharp decline, dropping from a high of $3.14 on Sunday to as low as $2.75 on Monday. This tumble reflected broader fears in the tech and crypto sectors as investors reacted to the implications of DeepSeek.

However, XRP is now on the mend. The cryptocurrency has climbed back to a trading price of $3.19, closely approaching its all-time high of $3.40, reached in January 2018. This recovery is seen as a positive sign for investors who were shaken by the recent volatility.

Ripple’s CEO, Brad Garlinghouse, has been vocal about the need for a federal crypto reserve that encompasses altcoins like XRP, arguing against the prevailing Bitcoin-only mindset in the industry. He believes that the cryptocurrency Market should embrace a multi-chain world and foster collaboration rather than competition.

In an optimistic statement, Garlinghouse emphasized that the creation of a government digital asset reserve should represent a diverse range of cryptocurrencies, including Bitcoin, XRP, and others, rather than focusing solely on one. His commitment to a level playing field in the crypto Market is gaining traction as he advocates for unity over division among different digital currencies.

Adding to the excitement, Ondo Finance, known for its decentralized finance protocols, announced plans to launch its Short-Term US Government Treasuries fund on the XRP Ledger. This endeavor is expected to provide further opportunities for institutional investors looking to engage with the blockchain world.

With XRP’s rebound and innovation-driven projects on the horizon, the Market is watching closely to see how these developments will shape the future of this leading cryptocurrency.

For more updates on cryptocurrency trends and investments, subscribe to our newsletter and follow us on social media.

Tags: XRP, Ripple, cryptocurrency news, Market recovery, Brad Garlinghouse, Ondo Finance.

FAQ about XRP’s Recent Rally and Brad Garlinghouse’s Prompts for Federal Altcoin Reserves

1. What is XRP and why is it important?
XRP is a digital currency created by Ripple. It’s important because it helps banks and financial institutions move money quickly and cheaply across borders.

2. Why is XRP seeing a rally toward 2017 highs?
XRP is rising in value as investors become optimistic about its future. Recent news and positive developments from Ripple are boosting confidence among traders.

3. What did Brad Garlinghouse say about federal altcoin reserves?
Brad Garlinghouse, the CEO of Ripple, mentioned that he believes the U.S. government should consider creating reserves for altcoins like XRP. He thinks this could help stabilize the Market and promote innovation.

4. How does the current rally affect XRP investors?
The rally could be good news for XRP investors, as rising prices can lead to profits. However, it’s also important for investors to remember that cryptocurrency markets can be volatile.

5. What should I watch for in the future regarding XRP?
Keep an eye on regulatory news, Market trends, and Ripple’s developments. These factors can greatly affect XRP’s price and overall performance in the crypto Market.

Leave a Comment

DeFi Explained: Simple Guide Green Crypto and Sustainability China’s Stock Market Rally and Outlook The Future of NFTs The Rise of AI in Crypto
DeFi Explained: Simple Guide Green Crypto and Sustainability China’s Stock Market Rally and Outlook The Future of NFTs The Rise of AI in Crypto
DeFi Explained: Simple Guide Green Crypto and Sustainability China’s Stock Market Rally and Outlook The Future of NFTs The Rise of AI in Crypto