A pivotal announcement from U.S. Treasury Secretary Scott Bessent has sent ripples through the cryptocurrency market, causing a significant decline in XRP prices. Notably, Bessent confirmed that the government will halt purchasing new Bitcoin for its strategic reserve, shifting focus towards existing reserves acquired through confiscations. This policy shift directly impacts the long-term demand for cryptocurrencies like Bitcoin and XRP. 💰 The news sparked a rapid market reaction, with major crypto assets experiencing downward pressure. 📈 📉 While Bitcoin initially surged past its all-time high of $124,000, fueled by institutional investments and pro-crypto policies, it experienced a pullback to around $119,000 as traders processed the implications of this new policy. 📊 The broader crypto market reacted in kind; Ethereum and other altcoins followed suit with moderate dips. Ripple’s XRP was particularly affected, declining over 4 percent intraday after its price reached highs above $3.34. As an altcoin heavily dependent on sentiment and regulatory narratives, XRP experienced increased volatility as investors liquidated riskier positions amid uncertainty about the future direction of the cryptocurrency market.