Key Takeaways
- Economist and Bitcoin critic Peter Schiff criticized XRP’s inclusion in the proposed crypto reserve.
- Despite past conflicts, Charles Hoskinson defended XRP’s inclusion, calling it a strong technology.
- Ripple’s CTO was surprised at Hoskinson’s stance as the Cardano chief explained his change of mind.
On Sunday, March 2, Donald Trump confirmed that the U.S. would establish a strategic crypto reserve, with XRP among the selected assets.
However, the decision faced immediate pushback. Longtime Bitcoin (BTC) skeptic Peter Schiff was among the first to question XRP’s inclusion.
In an unexpected turn, Cardano founder Charles Hoskinson—who has a history of public spats with XRP supporters—came to XRP’s defense.
Hoskinson Defends Trump’s XRP Decision
Schiff noted that he has no issues with Bitcoin’s inclusion, citing its status as “digital gold.” However, he cast doubt on XRP’s role, questioning why it was chosen for the U.S. crypto reserve.
“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?” Schiff asked.
In response, Hoskinson defended XRP, calling it “great technology” and backing Trump’s decision to include the token.
“Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision,” the Cardano founder added.
His remarks stunned the crypto community, given his history of clashes with XRP supporters.
What Changed?
Hoskinson’s relationship with the XRP community has been rocky.
In 2022, he argued that XRP should be regulated as a commodity, a position that sparked a fierce backlash from the XRP Army.
By May 2023, tensions escalated further when Hoskinson took a swipe at XRP in a now-deleted post, prompting Ripple CTO David Schwartz to hit back. Later that year, he labeled the XRP community “toxic and petty.”
However, in early 2024, Hoskinson extended an olive branch, and the XRP Army, surprisingly, accepted his peace offering.
Now, following his praise for XRP, Schwartz expressed disbelief, asking if he was dreaming.
“No, I just appreciate your work after spending some time with the code and protocol for the Glacier Drop,” Hoskinson replied.
Ripple, Cardano, and the Trump Administration
XRP’s inclusion in the proposed crypto reserve may not come as a surprise, given Ripple’s ongoing engagement with the Trump administration.
Since Trump’s victory, Ripple CEO Brad Garlinghouse has had multiple discussions with the president’s team, building a strong rapport with key players. Similarly, Hoskinson has joined Trump’s crypto policy team.
Meanwhile, the SEC will likely pause its litigation against Ripple, as it has done with other major cases as part of its pivot. However, it remains unclear whether XRP, Cardano’s ADA, or other altcoins will be removed from the SEC’s watchlist.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
