Trump considering building encryption reserves with USDC, SOL, and XRP? XRP hits another all-time high

The three major U.S. stock indexes closed slightly lower on Thursday (1/16), with only the Nasdaq gaining 0.18% with the support of TSMC. The market remains cautious ahead of Trump's official inauguration. BTC continues to hover around $100,000, with XRP performing the best among the top ten cryptocurrencies. This is influenced by the progress of the lawsuit between Ripple and the SEC, as well as rumors that Trump is considering establishing reserve assets using tokens such as USDC, SOL, and XRP. SOL also saw a 2.8% increase in the past 24 hours.

(TSMC's analyst meeting is held today. TSM's premium compared to 2330 is nearly 30%. Is there an arbitrage opportunity?)

The US economic data is mixed, and Federal Reserve Director Waller does not rule out a rate cut in March.

The initial claims for unemployment benefits in the United States last week increased more than expected, but the four-week moving average fell to the lowest level since April, indicating a gradual decrease in the number of layoffs.

US retail sales in December increased by 0.4% on a monthly basis and 3.9% on an annual basis, which is slower than the previous three years, but retail sales still exceeded expectations despite the pressures of high prices and borrowing costs. Since the election, consumer and business confidence has been rising, but inflation expectations have also increased, so it remains to be seen whether higher confidence will translate into higher spending.

Federal Reserve Board member Christopher Waller said officials could cut interest rates again in the first half of 2025 if inflation data continues to cooperate, and he does not completely rule out the possibility of a rate cut in March.

XRP hits another all-time high, Trump considers creating reserves with USDC, SOL, and XRP encryption?

According to the New York Post, citing knowledgeable sources, Trump is open to creating a US-centric encryption currency reserve, with priority given to tokens such as USDC, SOL, and XRP.

XRP hit a historical high of around $3.38 yesterday, the first time since January 2018, with a 7-day increase of 42%. SOL also saw a 2.8% increase in the past 24 hours.

In addition, the favorable progress of the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), as well as the increasing adoption of the RippleNet payment network by more and more institutions, are helping to drive the rise of XRP.

(XRP continues to soar! SEC appeal details exposed, attempting to overturn Ripple's ruling)

This article: Is Trump considering establishing an encryption reserve with USDC, SOL, and XRP? XRP hits a new all-time high. Originally appeared on Chain News ABMedia.