President Donald Trump recently announced a national crypto reserve that stirred considerable media attention, particularly due to the listing of prominent tokens like Solana and Cardano. The most controversial aspect, however, was the inclusion of XRP, which led to various speculations regarding the nature of its selection and potential lobbying influences.

The Rollout

On March 2, Trump revealed his vision for a U.S. strategic crypto reserve through a post on his social media platform, featuring XRP, SOL, and ADA as part of the asset basket. This initiative was presented as a strategy to keep America competitive in the evolving digital financial ecosystem.

Following the announcement, XRP’s value increased approximately 5%, reaching $2.29. Initially, traders were optimistic about what appeared to be a government endorsement, but concerns arose when reports indicated that members associated with Ripple may have influenced the announcement directly.

🚨 Political bombshell: Trump allegedly tricked into promoting $XRP, $SOL, $ADA Politico reveals lobbyist maneuver behind ‘strategic crypto reserve’ post. Coins surged 6-11% amidst market volatility.

Sources indicate that Trump was dissatisfied upon discovering the lobbying implications and subsequently distanced his administration from any related collaborations.

Ripple’s Political Presence

Ripple Labs has demonstrated significant engagement in political arenas for several years. Its Chief Legal Officer, Stuart Alderoty, has made substantial financial contributions, including over $300,000 to Trump-aligned PACs during the 2024 elections. Furthermore, Ripple donated $5 million worth of XRP to support Trump’s inaugural fund and has been backing Fairshake, a PAC favoring crypto-supportive candidates across political spectrums.

Although such political activities are not inherently unlawful, they spark debate over the appropriateness of private entities influencing public asset selection.

Market Reactions

Initially viewed as a triumph, XRP’s designation within the reserve received skepticism as lobbying stories broke. Investors began to question whether the listing served as genuine governmental approval or if it was merely strategic marketing. Despite the controversies, XRP managed to retain a majority of its gains, highlighting that investor confidence may still outweigh the surrounding political turmoil.

Conclusion

As the crypto domain continues to grapple with collaborations bridging public policy and private interests, Trump’s ambitious reserve idea has attracted scrutiny. As governments inch closer to the incorporation of digital assets, clarity will be essential—not only concerning asset selections but also regarding the factors influencing those choices.