The newly inaugurated U.S president, is reportedly interested in some cryptocurrencies as national reserves. After this disclosure, Bitcoin, XRP and Solana saw a significant price surge as traders and investors are betting that Trump’s administration could bring about a new era for the U.S. backed digital currencies.
According to the New York Post, referencing anonymous sources, the president welcomed the idea of a crypto reserve, with Solana and XRP among the possible choices. This happened at a dinner before the inauguration yesterday. Trump had a dinner with Ripple’s CEO Brad Garlinghouse and Coinbase’s Brian Armstrong, where Trump reportedly expressed strong support for the idea.
Cryptocurrency as a national reserve has been a public discussion in recent times as proponents see it as a way to provide stability and encourage adoption of U.S. made cryptocurrencies. As such, the president’s endorsement of this could boost the price of these tokens. But how does this impact the price of Solana and XRP
Solana and XRP’s Price Action
Following the report, Solana surged to $217, an 8% rise before going on a full bullish mode, reaching $280. Its price has since retraced as the general market dips. Solana is currently trading at $239, an 6.6% drop in the past 24 hours, cutting its weekly gain to just 27%.
The idea of Solana as a national reserve could lead to an upsurge from this price point. Analysts are targeting $300 in February as a possible price point if the momentum keeps up. Meanwhile, some analysts are cautious of the moves, expecting the price to dip, particularly as Donald Trump’s linked World Liberty Financial just accumulated Ethereum immediately after the inauguration.
For XRP, its price reached $3.35, just shy of its 2018 record price, per data source CoinGecko after the cryptocurrency reserve hopes. Since Trump reelection, XRP’s price has skyrocketed, gaining over 500% as regulatory pressure on Ripple eases.
However, XRP’s price is downtrodden following the general market dips. Currently, it trades at $3.10, a 6.5% loss in the past day. However, it still poses an impressive 21% weekly gain and a 464% year-to-date growth. Meanwhile, Egrag Crypto, a crypto analyst, mentioned 3 XRP’s patterns that could lead to significant surge. If this would pan out as expected, however, remains uncertain.
Will Remittix Surge Following Trump’s Inauguration?
Analysts are particularly bullish on RTX’s price following the inauguration of the president and appointment of pro-crypto leaders. RTX is the native token of Remittix (RTX) that is redefining global payments by integrating blockchain technology with fiat transactions, offering fast and cost-efficient cross-border solutions.
Remittix supports over 40 cryptocurrencies, including Cardano, Shiba Inu, Dogecoin and Ethereum. Additionally, the platform provides instant conversions into fiat currencies like USD and GBP, enabling seamless deposits into recipients’ bank accounts.
Bridging the gap between crypto and fiat, Remittix has a competitive advantage over traditional payment providers such as Stripe and Wise and crypto-exclusive platforms like Coinbase Wallet. With over 30+ fiat currencies and 50 crypto pairs supported, Remittix ensures accessibility and inclusivity for businesses and individuals, simplifying global commerce with its extensive range of options.
Notably, this platform offers an open flat-fee approach, reducing costs and offering transparency over exorbitant charges and inadequate exchange rates of conventional banks. This approach guarantees that the full amount sent reaches the recipient, making Remittix a game-changer in the payments industry, where shady practices are unfortunately all too common.
Additionally, Remittix’s token offers investors a chance to interact with a project with the potential same as Solana and XRP in their earlier stage. In fact, the fundamentals suggest RTX surpasses these tokens and alter the benchmarks for blockchain-based financial solutions.
Meanwhile, the RTX token is currently priced at $0.0239 in its presale offering a compelling investment opportunity. This presale has generated over $4.5 million, highlighting investors confidence in the projects.
Analysts predict significant growth, with a 25x multiplier expected in the presale phase and over 1,500% gains after launch, as demand for innovative cross-border payment solutions continues to rise.
Discover the future of PayFi with Remittix by checking out their presale here:
Website:https://remittix.io/
Socials: https://linktr.ee/remittix
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