In a surprising turn of events, Ripple’s XRP is making headlines with a robust comeback, rejuvenating investor optimism in a volatile crypto landscape. After a disruptive drop provoked by the emergence of DeepSeek—a low-cost AI model from China that rattled both tech stocks and cryptocurrencies—XRP is spearheading a remarkable recovery.

The cryptocurrency, XRP, after sliding from a weekend peak of $3.14 to a trough of $2.75 by Monday, is now trading at $3.19. This surge places XRP within arm’s reach—just 6.5% shy—of its all-time high of $3.40, last recorded on January 7, 2018.

Amplifying this upward momentum, Ripple CEO Brad Garlinghouse has sparked debate with a call for the establishment of a federal crypto reserve embracing a variety of altcoins, advocating for a diverse crypto portfolio rather than one dominated by Bitcoin. Garlinghouse argues against “Bitcoin maximalism,” urging a shift toward a multi-chain future that offers a “level-playing field” for various digital assets.

His proposal coincided with a notable partnership announcement. Ondo Finance, a decentralized finance protocol, revealed plans to launch its Short-Term US Government Treasuries (OUSG) fund on the XRP Ledger. This move, signaling a significant step toward institutional blockchain adoption, is expected to further solidify XRP’s position in the crypto-market.

With Ondo trading at $1.42, up by 9.6% in the past 24 hours, the implications of these market shifts are profound. As traders and investors take notice of XRP’s resurgence, Garlinghouse’s vision for a federal altcoin reserve adds a new dimension to the ongoing conversation about the future of cryptocurrency regulation and adoption.

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