Analyst Highlights XRP as Americas Edge in Economic Battle With China
- Egrag Crypto pointed out that the U.S. holds 198,109 BTC and China owns around 190,000 BTC.
- Egrag claimed the U.S. could have an upper hand through Ripples escrowed XRP holdings.
- The cryptocurrency is currently priced at $2.17, slipping by 2.97% in the last twenty-four hours.
As the economic rivalry between the United States and China heats up, some in the crypto space argue that XRP could deliver a strategic advantage to America. Egrag, a prominent figure in the XRP community, recently shared his views on social media, noting that while both superpowers are heavily invested in Bitcoin, XRP could shift balance in favor of the United States.
To support his view, Egrag shared an illustrative comparison showing the U.S. government controlling 198,109 Bitcoin, slightly more than Chinas approximate 190,000 Bitcoin holdings. Despite the narrow margin, the argument extends beyond Bitcoins influence.
He identified Ripples escrow, containing 36 billion XRP, as a significant asset capable of strengthening Americas position within the global crypto landscape. According to Egrag, China does not own XRP, whereas the United States could potentially leverage Ripples massive escrowed in its favor.
Critical Voices Challenge XRP-Centric Narratives
Yet, not every voice in the crypto community agrees with Egrags enthusiastic assessment. Vincent Van Code, another influential figure within the community, offered a different point of view. In response to Egrags claims, Van Code argued that the debate should not boil down to a simple XRP versus Bitcoin comparison.
He reminded everyone that the economies of both the United States and China operate on scales of tens of trillions of dollars. In that context, $20 billion in Bitcoin holdings is a relatively minor figure, unlikely to shift the balance of global economic power by itself.
Van Code further emphasized that while cryptocurrency is undoubtedly a revolutionary technology, its real power as a strategic national asset depends heavily on its integration into the broader economic system, rather than the mere possession of digital coins.
Interestingly, Trump had once hinted at the possibility of incorporating alternative cryptocurrencies into a national reserve. His final executive order suggested adding XRP to an altcoin stockpile, with Bitcoin as the primary reserve asset. However, in contrast to Egrags claim, the U.S. government currently does not hold XRP.
Some commentators propose that Ripples upcoming $50 million fine could potentially be settled using XRP instead of cash, offering a way for the U.S. government to indirectly acquire a significant stake in the token.
XRP Price Action and Market Sentiment
As of now, XRP is trading at $2.17, marking a 2.97% decline over the past 24 hours. The altcoin has also dropped over 5% on the monthly chart, underscoring sustained bearish pressure across the market.
Meanwhile, data from Coincodex shows that market sentiment remains neutral, reflecting persistent uncertainty among investors regarding its future trajectory. Only 43% of its last 30 trading sessions have recorded profitability, further emphasizing cautious market behavior.
Nevertheless, Coincodex analysts anticipate short-term resilience, forecasting a potential rise to $2.31 within five days. Despite short-term optimism, the long-term outlook remains pessimistic, with projections pointing to a decline toward $1.97 in one month and $1.65 over three months.
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Read more: https://www.tronweekly.com/xrp-may-offer-u-s-key-advantage-over-china/
Text source: TronWeekly
