The recent declaration by Donald Trump regarding the creation of a U.S. strategic crypto reserve has ignited a wave of debate, especially surrounding the inclusion of Ripple’s [XRP]. While Bitcoin [BTC] was expected to be part of this reserve due to its recognition as “digital gold,” the choice to include XRP raised eyebrows, with some critics questioning its legitimacy.

Peter Schiff, a longtime Bitcoin skeptic, voiced his skepticism about XRP’s place in the reserve, stating, “I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So, let’s create a Bitcoin reserve, too. But what’s the rationale for an XRP reserve? Why the hell would we need that?”

Hoskinson Defends XRP

However, in a surprising turn of events, Charles Hoskinson, the founder of Cardano (ADA), stepped forward to defend XRP and praised its inclusion in the reserve. Despite their past differences, Hoskinson supported the decision, noting that XRP had proven itself as a robust technology with a loyal community.

Hoskinson remarked, “Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision.”

This support from Hoskinson caught the crypto community off guard, given the often tense relationship between him and the XRP community. In the past, Hoskinson’s remarks about XRP and its supporters were less than flattering. In 2022, he suggested that XRP should be regulated as a commodity, which fueled backlash. Later, in 2023, Hoskinson took to social media to criticize the XRP community, calling them “toxic and petty,” which led to a heated exchange with Ripple CTO David Schwartz.

Despite these past conflicts, in early 2024, Hoskinson made a surprising attempt to repair relations, which the XRP community welcomed. His latest praise for XRP, however, left Schwartz stunned. In response to Hoskinson’s comments, Schwartz jokingly questioned whether he was dreaming, to which Hoskinson replied, “No, I just appreciate your work after spending some time with the code and protocol for the Glacier Drop.”

Market Response and Whale Accumulation

Following Trump’s statement XRP saw a significant surge of 17.02% in just 24 hours, reaching $2.65. This price jump wasn’t solely due to Hoskinson’s support; the main catalyst was Trump’s decision to include XRP in the U.S. crypto reserve, signaling growing institutional interest in the token.

In addition to the surge, XRP experienced notable whale accumulation. Analyst Ali Martinez pointed out that institutional players were increasingly investing in XRP, showcasing rising confidence in the cryptocurrency. Martinez’s insights underscored the belief that XRP’s inclusion in the reserve would likely attract more institutional investors, further boosting its price.

What’s Next for XRP?

With Hoskinson’s newfound support and growing whale activity, XRP appears to be on a positive trajectory. As the token finds itself in the U.S. crypto reserve, it is becoming more ingrained in the regulatory landscape, which could bring additional stability and confidence to the market.

The surge in whale accumulation highlights the potential for a continued rally in XRP’s price, particularly if more institutional investors begin to embrace the token. However, challenges remain, and the evolving regulatory and financial environment will play a crucial role in determining whether XRP can maintain its momentum in the long term.

For now, with Hoskinson’s backing and institutional confidence on the rise, XRP’s future looks promising, but the road ahead will be closely watched by traders and investors alike.