The XRP token saw further support when Trump said he planned to include XRP in a proposed US Digital Asset Stockpile alongside other cryptocurrencies, such as Solana (SOL) and Cardano (ADA). The stockpile will only comprise assets acquired by law enforcement and other legal proceedings and will not buy crypto. The US Securities and Exchange Commission is reportedly “in the process of wrapping up” an enforcement action against Ripple that has beleaguered the XRP developer since 2020. The regulator has already dropped actions against crypto firms such as Coinbase, Kraken and Uniswap.
Source: CoinGeckoRelated: XRP Ledger unveils institutional DeFi roadmapChanging fortunesXRP’s price has risen by more than 300%, to around $2.3 per token, since President Donald Trump prevailed in the US elections on Nov.5. Trump said he wants America to become the “world’s crypto capital” and has appointed industry-friendly leadership to key regulators. The thawing US regulatory environment is especially beneficial for XRP, which prioritizes enterprise users and unveiled an institutional DeFi roadmap in February.
XRP’s fully diluted valuation (FDV) has surpassed Ether (ETH), according to March 14 data from CoinGecko. The FDV flip signifies a reversal of fortune for both layer-1 (L1) blockchain networks behind the tokens, as XRP Ledger’s decentralized finance (DeFi) ecosystem gains traction and Ethereum grapples with competition from rival L1s, such as Solana.
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Author / Journalist: Cointelegraph by Alex O’Donnell
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