Coinbase CEO Brian Armstrong commented on US President Donald Trump's recent plan to establish a crypto reserve. The plan, announced on Sunday (yesterday), proposes including bitcoin, ether, SOL, XRP, and ADA in a “Crypto Strategic Reserve.”
Trump's social media announcements about crypto reserves triggered a rally in the crypto market on Sunday. However, XRPUSD is undergoing a bearish correction on the H1 chart today. The cryptocurrency appears to be forming a double bottom at a flipped support level, where buyers could enter long positions and potentially drive the price higher.
Coinbase CEO Favors Bitcoin in Reserve
Armstrong suggested that limiting the reserve to bitcoin would be the simplest approach, The Block reported.
“Just Bitcoin would probably be the best option — simplest, and clear story as successor to gold,” Armstrong wrote in an X post, adding that he was still forming an opinion on asset allocation.
JUST IN: Coinbase CEO Brian Armstrong says a US crypto reserve with only Bitcoin is "probably the best option." pic.twitter.com/3Eu3UeJkBC
— Watcher.Guru (@WatcherGuru) March 3, 2025
He added: “If folks wanted more variety, you could do a market cap-weighted index of crypto assets to keep it unbiased. But probably option #1 is easiest.”
Crypto Reserve Faces Uncertainty in Implementation
BitMEX co-founder Arthur Hayes expressed skepticism about the proposal. He argued that the announcement is “just words” without congressional approval or funding to purchase digital assets.
Trump's announcement signals ongoing discussions around digital assets in the US. However, the plan's implementation remains uncertain.
XRPUSD Faces Key Support at 2.57000
The XRPUSD H1 chart shows a strong bullish move followed by rejection around $3, forming a double top. The price then moved lower, bouncing at 2.57000. Currently, the price seems to have found support at this level and may form a double bottom. If this pattern develops, buyers could re-enter, potentially driving the price higher.
However, if the price breaks below 2.57000, sellers may continue pushing the price down. In that case, a bullish trend line will be an important level to watch closely.
Ripple Forms Strategic Alliances, Supports Philanthropy, and Faces Legal Challenges
Ripple has been involved in several significant developments. South Korea's institutional crypto storage firm BDACS will use Ripple Custody to secure XRP and RLUSD, a dollar-pegged stablecoin issued by Ripple. This partnership targets institutional clients seeking secure storage for digital assets.
South Korea’s BDACS to Use Ripple Custody for Institutional XRP, RLUSD Holdings
— GA Spark (@XRP_Spark) February 27, 2025
https://t.co/FEV487V861
Ripple has also partnered with Revolut and Zero Hash to enhance access to RLUSD, aiming to compete with USDT and USDC.
Additionally, Ripple teamed up with the Portuguese exchange provider Unicâmbio to enable instant international payments between Portugal and Brazil, leveraging digital assets for efficient cross-border transactions.
Ripple gained attention when CEO Garlinghouse and Chief Legal Officer Alderoty attended a private dinner with President-elect Donald Trump on January 6. This sparked speculation about Ripple’s ongoing legal case with the US Securities and Exchange Commission (SEC), which filed a lawsuit in December 2020 alleging Ripple sold XRP tokens as unregistered securities.
Great dinner last night with @realDonaldTrump & @s_alderoty.
— Brad Garlinghouse (@bgarlinghouse) January 8, 2025
Strong start to 2025! pic.twitter.com/UjM6lahUG4
In philanthropy, Ripple donated $100,000 in XRP to support communities affected by California wildfires, assisting organizations like World Central Kitchen and GiveDirectly via The Giving Block platform.
Investor activity in XRP remains strong, with whales acquiring 520 million tokens during a recent price dip, indicating continued interest. The SEC's reassignment of Jorge Tenreiro, who oversaw Ripple’s case, has raised questions about the agency's future stance on crypto litigation.
Ripple has made progress in Japan, with expectations that banks will adopt the XRP Ledger by 2025, aiming to improve cross-border payments and currency conversions for remittances.
.@Ripple x @Chainlink: $RLUSD has adopted the Chainlink standard for verifiable data to fuel DeFi adoption with real-time, secure pricing data.
— Ripple (@Ripple) January 7, 2025
The future of stablecoins is here: https://t.co/mq3cThLGQJ pic.twitter.com/993Ac0o282
In DeFi, Ripple has partnered with Chainlink to integrate its RLUSD stablecoin into Ethereum-based DeFi applications for trading and lending.
The debate over XRP's inclusion in a US crypto reserve continues, with centralization concerns complicating the discussion. Ripple’s Chief Technology Officer, David Schwartz, defended the decentralization of the XRP Ledger, highlighting its resilience against manipulation.
