Ripple’s Potential: What Happens if Trump Adds XRP to the US Treasury?
Will the incoming US president indeed focus on US-based crypto projects such as Ripple?
TL:DR;
- XRP received a massive regulatory boost after Trump’s election victory, and the landscape is also expected to get better during his upcoming administration.
- With some notable reports on the matter of Ripple’s potential prioritization under the new government, the question arises of what could happen to the token’s price.
XRP’s Potential Under Trump
Ripple’s cross-border token exploded shortly after the US elections due to the long-awaited change in the upcoming government, especially in the SEC’s leadership. Most recently, the asset touched its 2018 all-time high of $3.4, which represented a massive 460% surge since early November when it stood below $0.6.
The latest rally came after reports that the president-elect, who steps into office on January 20, will focus on US-based cryptocurrency projects, such as Solana, Cardano, and Ripple.
It seems a bit far-fetched now to consider that any crypto asset, including BTC, could be included in the US treasury, but there have been many reports suggesting that it is possible under a favorable administration. Consequently, we decided to ask ChatGPT what would happen to XRP’s price should something as shocking as this indeed take place in the next four years.
The popular AI chatbot responded that the first price target for the third-largest cryptocurrency would be $6 before it could really take off. Based on a positive market environment and a more suitable regulatory landscape, XRP, alongside ADA and SOL, could continue its rise. ChatGPT laid out two scenarios for a price peak.
Optimistic Scenario: Some analysts speculate XRP could reach $10-$15 in the medium term if added to the reserve and supported by consistent utility and adoption.
Aggressive Projections: In a highly favorable scenario, where XRP gains significant institutional adoption globally, prices could exceed $20 or even $50 over time.
It’s safe to say that even the more modest scenario sounds quite bullish and maybe slightly unrealistic. A price level of $10 would put XRP’s market cap at over $570 billion – meaning Ripple’s token will be way ahead of ETH (if it remains close to its current level of $410 billion).
The $50 projection would mean a market cap of well over $2.5 trillion, which will make it the number one cryptocurrency. As of January 19, this sounds exaggerated, to say the least.
XRP Will Face Challenges
ChatGPT further outlined some of the challenges ahead of XRP, most of which are related to the competition. Aside from the aforementioned ADA and SOL, Ripple’s asset will have to fight an uphill battle against BTC.
Moreover, the AI platform warned that Trump’s plans might have changed with the introduction of his own crypto asset. As reported during the weekend, the president-elect announced the launch of a meme coin called Official Trump (TRUMP). It has already taken the crypto world by storm, becoming the second-largest meme token at one point before retracing slightly.
Nevertheless, it could be a viable competition to XRP and the rest of the market as its impact on the industry is still debated.
The post Ripple’s Potential: What Happens if Trump Adds XRP to the US Treasury? appeared first on CryptoPotato.
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