Why XRP (Ripple) Is Plummeting Today
The crypto token XRP (CRYPTO: XRP) is falling on Monday, dropping 10.3% since 4:30 p.m. ET on Sunday. The move comes as the S&P 500 (SNPINDEX: ^GSPC) lost 0.4% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.6% in the day's trading.XRP retreated after rallying more than 30% following President Trump's call for a "Crypto Strategic Reserve" on Sunday.President Trump took to Truth Social on Sunday to announce his intention to create a strategic reserve of five cryptocurrencies: Bitcoin, Ethereum, Cardano, Solana, and XRP. Although the president had signed an executive order (EO) soon after taking office with a similar intention, Sunday's post calls for a "reserve" rather than a "stockpile." The latter would involve simply holding on to digital assets already seized by federal law enforcement, while the former implies the federal government would purchase additional assets, infusing the market with capital.Continue reading
The crypto token XRP (CRYPTO: XRP) is falling on Monday, dropping 10.3% since 4:30 p.m. ET on Sunday. The move comes as the S&P 500 (SNPINDEX: ^GSPC) lost 0.4% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.6% in the day's trading.
XRP retreated after rallying more than 30% following President Trump's call for a "Crypto Strategic Reserve" on Sunday.
President Trump took to Truth Social on Sunday to announce his intention to create a strategic reserve of five cryptocurrencies: Bitcoin, Ethereum, Cardano, Solana, and XRP. Although the president had signed an executive order (EO) soon after taking office with a similar intention, Sunday's post calls for a "reserve" rather than a "stockpile." The latter would involve simply holding on to digital assets already seized by federal law enforcement, while the former implies the federal government would purchase additional assets, infusing the market with capital.
