Peter Schiff Questions XRP’s Inclusion in Multi-Token Reserve as Crypto Prices Surge

Peter Schiff questions XRP’s role in a multi-token reserve as crypto prices surge and industry leaders debate its necessity.

Fridah Kangai
March 3, 2025
2:36 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Peter Schiff questions XRP’s role in a multi-token reserve, sparking debate among financial experts and crypto analysts.
Following the announcement, crypto prices soared, with XRP jumping 33%, SOL rising 22%, and ADA gaining over 60%.
Coinbase CEO Brian Armstrong supports a Bitcoin-only crypto reserve, stating it is “probably the best option” for stability.

Prominent financial commentator Peter Schiff has expressed doubts about including XRP in a multi-token cryptocurrency reserve. Schiff, widely recognized for his skepticism toward digital assets, acknowledged Bitcoin’s status as a digital equivalent to gold but remained puzzled by the selection of XRP.

I get the rationale for a Bitcoin reserve. I don't agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let's create a Bitcoin reserve too. But what's the rationale for an XRP reserve? Why the hell would we need that?
— Peter Schiff (@PeterSchiff) March 2, 2025

According to Schiff, Bitcoin’s role as a store of value makes sense, but XRP’s presence in the reserve is highly questionable. He openly challenged the necessity of holding an XRP reserve, igniting widespread discussions among financial analysts and the cryptocurrency community.

In response, Crypto Kemal pointed to politics and financial strategies for adoption as longer explanations for such perceived justification. He referred to a statement that indicated that for America to become the leading crypto hub, it must target altcoin investors, with XRP and Solana being some of the most substantial coins in the market.

Market Reaction to XRP’s Inclusion

Schiff acknowledged this perspective but argued that it does not justify why XRP is needed in a strategic reserve. His stance reflects the broader skepticism among some investors regarding XRP’s long-term viability and necessity in financial reserves.

After the announcement, the cryptocurrencies rallied, with XRP increasing by 33%, SOL by 22%, and ADA skyrocketing, passing 60%. Cryptocurrencies’ recovery from the slight slump seen in recent days continued into trading on Tuesday, with Bitcoin rising to over $94,000, an increase of 10%, and Ethereum, up by 12%, to $2,850.

According to Wacher Guru Coinbase CEO Brian Armstrong also entered the fray, saying that a US crypto reserve with only Bitcoin is “probably the best option.” His comments contributed to the ongoing debate on whether diversification or an exclusively Bitcoin strategy is the way to go with such reserves.

The ongoing controversy over XRP’s inclusion underscores the continuing debate surrounding the long-term viability of different digital assets. While the market’s reaction appears favorable, the actual impact of the multi-token reserve remains uncertain and subject to further analysis.

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