Recent financial disclosures have revealed an unprecedented development in favor of the crypto world. Pennsylvania Representative Guy Reschenthaler has become the first sitting U.S. lawmaker to invest in XRP.
The Republican congressman’s portfolio now includes XRP holdings valued between $1,000 and $15,000, according to documentation shared by Nancy Pelosi Stock Tracker, an X account that publicizes trades made by politicians.
The investment extends beyond XRP, as Representative Reschenthaler allocated similar amounts to both Bitcoin and Solana during December 2024. These strategic moves have already yielded positive returns since the initial investment.
Notable Crypto Politician Trade Alert ✍️
For the first time ever, a Politician has bought Ripple
Rep. Guy Reschenthaler (R) disclosed up to a $15K buy of $XRP
Small buy, but bullish nonetheless for the Ripple community pic.twitter.com/vZc6QgI0hF
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) January 14, 2025
Political and Regulatory Landscape
The timing of these investments corresponds with significant anticipated changes in the political landscape. The upcoming transition to a Donald Trump-led Republican administration has generated optimism within the crypto industry.
Additionally, former SEC Commissioner Paul Atkins is positioned to assume leadership of the regulatory body following Gary Gensler’s scheduled departure on January 20, 2025. XRP could benefit significantly from this change in leadership, as industry observers believe the new administration might dismiss the long-running legal battle between Ripple and the SEC.
XRP’s Historic Breakout
The optimism and positive developments have pushed XRP to heights not seen since 2018. The digital asset is currently trading at $2.54 and is the third-largest cryptocurrency by market cap.
Santiment, a crypto analytics platform, highlighted this feat, as this is the first time XRP has claimed the number three spot since December 17, 2024. This coincides with the increasing Whale activity highlighted by Ali Martinez, a prominent crypto analyst on X.
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Santiment has also documented substantial institutional interest, with whales holding between 1 million and 10 million XRP increasing their positions by 37% since November 2024, representing approximately $3.8 billion in new investments.
XRP recently rose to a multi-year peak of $2.99, and with a 27.15% increase over the past week, it has surpassed the top 100 assets in terms of performance. Donald Trump’s victory was the major catalyst that kick-started XRP’s rally, and when he takes office and Gensler leaves, the asset could soar even higher.
Congressional Cryptocurrency Adoption
Representative Reschenthaler’s investment represents an expansion of cryptocurrency adoption within Congress. Senator Cynthia Lummis maintains a substantial Bitcoin position valued up to $230,000, including a significant purchase in 2021 ranging from $50,001 to $100,000.
These investments are even more notable because the U.S. recently inaugurated its most pro-crypto Congress in history. Representative Mike Collins has demonstrated interest in Ethereum and other altcoins in the market.
Senator Pat Toomey has also established positions in cryptocurrency investment vehicles, particularly through Grayscale’s Bitcoin and Ethereum trusts.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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