Donald Trump’s Fund Buying XRP, Hedera Sparks Optimism For The Tokens
As the year comes to an end, XRP is finally showing signs of recovery after a bearish spell. There have been reports that Donald Trump’s fund is buying XRP, and there has been speculation about its impact on the token’s value. XRP is currently trading at $2.30, up more than 16% in the past 24 hours. After falling slightly over the past week, the price of XRP is recovering modestly.
Mark Yusko Highlights Trump’s Cryptocurrency Investments
Additionally, Morgan Creek Capital Management founder Mark Yusko recently highlighted Donald Trump’s alleged involvement in cryptocurrency investments. Yusko claimed that Trump and his son Eric have been actively acquiring digital assets, including Bitcoin (BTC), Hedera (HBAR), and Ripple’s XRP. Yusko said Trump’s investments, specifically in HBAR and XRP, could put him at the forefront of the approval of these cryptocurrency ETFs.
Is a bull market coming?
Trump’s support for cryptocurrencies could have a positive impact on XRP, pushing its price higher. On-chain analyst Ali Martinez recently stated that whales purchased 80 million XRP since the price correction began on December 17. Another cryptocurrency analyst recently shared an X post highlighting a comparison of XRP price trends in 2017 and 2024.
The chart shared in the post suggests that XRP may mimic previous bull runs, potentially reaching $8 to $13. Analysis shows historical patterns match current market behavior, sparking excitement among XRP holders.
Yusko pointed to rumors about a possible exemption from U.S. capital gains taxes on cryptocurrencies, a move he believes could revolutionize the U.S.’s treatment of cryptocurrencies and reshape the entire market.
Yusko Skeptical of XRP’s Long-Term Potential
Furthermore, despite XRP’s considerable market capitalization, Yusko expressed doubts about its long-term potential and criticized XRP and Cardano for a lack of meaningful innovation. Yusko is also optimistic about the U.S. government’s shifting stance on digital currencies, with key figures including Scott Bessent and the incoming chair of the U.S. Securities and Exchange Commission (SEC) publicly supporting cryptocurrencies. .
There are rumors that the Trump administration plans to include XRP and HBAR in the national cryptocurrency reserve. Speculations increased after that SeanHedera supporters claim that the Trump team wants to classify these assets as “American commodities” to strengthen the United States’ position in the global crypto market.
