The cryptocurrency community was hit with a stunning twist, when an executive order signed by President Donald Trump dashed the hopes of Ripple and its supporters.
After pouring millions into political contributions to push for XRP (CRYPTO: XRP)’s inclusion in a U.S. sovereign crypto reserve, the company and its co-founders watched their efforts unravel.
What Happened: Over the weekend, David Sacks, dubbed the “Crypto Czar,” shared the signed document on X, revealing that XRP would not be part of any strategic reserve as Trump had once vowed.
Back on March 2, Trump had fueled excitement by pledging to establish a crypto strategic teserve featuring XRP, sparking a 36% price surge for the token within an hour.
Yet, the reality unveiled in the executive order was starkly different.
Far from elevating XRP to a prized reserve asset, Trump designated it a “Stockpile Asset,” meaning the …
