XRP Must Hit $5 to Qualify for US Strategic Reserve, Lawyer Says

Legal Expert Sets $5 Target for XRP’s Reserve Qualification

As several US states explore Bitcoin reserve initiatives, the conversation around XRP’s potential in national reserves has intensified. Not all legislative proposals align with market expectations.

For example, Utah’s Blockchain and Digital Innovation Amendments bill was widely speculated to include a Bitcoin reserve. But critics were quick to point out that Bitcoin was not mentioned in the bill. Santiago Velez, co-founder of Block Digital, called out the misleading narratives around such bills.

Despite that, XRP is still in the conversation. XRP attorney Fred Rispoli recently said that under the current framework, only Bitcoin qualifies for reserve status. But he added that XRP could be eligible if it hits $5. XRP is currently below that level so the debate continues.

Can XRP Realistically Hit the $5 Mark?

XRP is currently trading at $2.39, up 4% in the day. Volume is up 19% to $8.85 billion with a 24 hour range of $2.28-$2.53. Technicals are looking up with an RSI of 37 and hinting at more upside.

Key insights from industry analysts include:

• Rose Premium Signals: Sees the recent dip as an accumulation opportunity and predicts a potential rally towards $4.95, with interim targets at $3.40 and $4.21.

• EGRAG CRYPTO: Highlights $2.67 as a critical resistance level. A close above $2.81 could ignite a strong bullish run.

• Dark Defender: Identifies $2.33 as a key support level. If held, the next targets would be $2.70 and $2.99.

Further speculation surrounds Garlinghouse’s possible role in Trump’s advisory board, fueling hopes of increased institutional adoption for XRP.

What Happens If Market Sentiment Turns Bearish?

While the bullish case for XRP is strong, a bearish outlook could see the token facing crucial support levels:

• $2.16, $1.88, and $1.53: These are key areas where XRP could find stability if selling pressure increases.

• CasiTrades Analysis: Suggests that a slow decline is preferable to prevent a deeper correction. A breakdown below $1.88 could push prices as low as $1.50.

• Bearish invalidation: If XRP breaks back into the $2.90 range, a renewed bullish trend may emerge.

XRP is at a crossroads, investors are watching closely. If the up trend continues, hitting $5 is still possible and could lead to being included in the US Strategic Reserve.