XRP Leads Crypto Comeback With Rally Toward 2017 Highs As Brad Garlinghouse Calls for Federal Altcoin Reserves
Ripple’s XRP is mounting a comeback after a broad market selloff following the release of DeepSeek, a low-cost Chinese artificial intelligence model.
XRP plummeted from a Sunday high of $3.14 to a Monday low of $2.75 as tech stocks and crypto collapsed amid fears about the implications of DeepSeek.
However, XRP is now attempting a recovery.
The third-largest crypto asset by market cap is trading for $3.19 at time of writing, just 6.5% below its all-time high of $3.40, which it hit on January 7th, 2018.
The payment token’s surge comes as Ripple chief executive Brad Garlinghouse calls for a federal crypto reserve to include altcoins like XRP, rather than exclusively holding Bitcoin.
“Some thoughts on [Bitcoin] maximalism.
Let me say this as clearly as I can: the crypto industry has a real shot, here and now, to achieve the many goals we have in common – if we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.
- I own XRP, BTC, and ETH among a handful of others. We live in a multi-chain world, and I’ve advocated for a level-playing field, instead of one token versus another.
- If a government digital asset reserve is created, I believe it should be representative of the industry, not just one token (whether it be BTC, XRP or anything else).
- Maximalism remains the enemy of crypto progress, and I’m very glad to see fewer and fewer folks ascribe to this outdated and misinformed thinking.”
On Tuesday, Ondo Finance (ONDO), a decentralized finance (DeFi) protocol that aims to tokenize real-world assets (RWAs), said it will soon launch its Short-Term US Government Treasuries (OUSG) fund on the XRP Ledger.
“We are bringing OUSG to the XRP Ledger with Ripple. OUSG, an institutional-grade product backed by tokenized US Treasuries and BlackRock’s BUIDL fund, represents a natural fit for a blockchain purpose-built for institutional adoption.”
ONDO is trading for $1.42 at time of writing, up 9.6% in the last 24 hours.
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Author: Daily Hodl Staff
