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President Donald Trump said that crypto industry innovation is poised to “unleash an explosion of economic growth” and help it expand US dollar dominance.
Speaking in a recorded video to the Digital Asset Summit, Trump said he’s creating a legal framework that will liberate institutions to ”invest, innovate and take part in one of the most exciting technological revolutions in modern history.”
Those innovations will help improve the banking and payments systems, while dollar-backed stablecoins will help expand the dollar’s dominance of global finance, he said.
“I can already see that the energy and passion of the crypto community is the kind of spirit that built our country and it’s exciting to watch as you invent the future of finance,” he said. ”It’s going to be right here in the USA. It’s I think as big as you can get. Together we will make America the undisputed Bitcoin superpower and the crypto capital of the world.
Trump’s remarks came as XRP surged after the SEC dropped its appeal against Ripple, and Arthur Hayes predicted Bitcoin’s bottom at $77K.
XRP Rallies After Ripple SEC Case Ends
XRP rallied after the long-standing case between the Securities and Exchange Commission and Ripple Labs, the company behind XRP, ended.
Ripple CEO Brad Garlinghouse shared the development in an X post yesterday. He said that the regulator dropped its appeal against a ruling that said XRP is not a security when sold on the retail market.
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let’s build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
Investors reacted to the news positively, with XRP up over 6% in the last 24 hours to trade at $2.47 as of 7:16 a.m. EST.
Trump Urges FOMC To Cut Interest Rates
XRP’s gain in the last 24 hours was boosted by a broader crypto market rebound of more than 1% after the Federal Open Market Committee (FOMC) announced that it will keep interest rates at between 4.25-4.5%, in line with analyst expectations.
While the crypto market reacted positively, Trump urged Fed officials to “do the right thing” and cut interest rates.
“The Fed would be MUCH better off CUTTING RATES as US Tariffs start to transition (ease!) their way into the economy,” Trump wrote in a post on Truth Social.
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