Ripple’s XRP Joins Nasdaq Worksport’s $5M Crypto Treasury Shift

Ripple’s XRP has hit a major milestone. Nasdaq-listed Worksport Limited will add XRP and Bitcoin to its $5 million corporate treasury. More companies are now putting cryptocurrency in their treasuries, which shows growing interest from big institutions in digital assets.

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Nasdaq and Ripple: A New Era of Cryptocurrency Treasury Adoption

Worksport’s Strategic $5M Crypto Investment

Worksport Ltd. makes tonneau covers. The company will spend up to $5 million on Bitcoin and XRP. This Worksport crypto treasury plan will help with faster transactions and fight inflation. CEO Steven Rossi said:

“Our upcoming adoption of Bitcoin (BTC) and XRP (Ripple) reflects our commitment to staying ahead of market trends while prioritizing operational efficiency and shareholder value.”

SEC Leadership Change Boosts XRP Outlook

The Nasdaq XRP adoption news comes at a key time. SEC Chair Gary Gensler will step down on January 20. President-elect Trump picked Paul Atkins as the new SEC Chair. This news excited the Ripple community.

Ripple CEO Brad Garlinghouse tweeted:

“An outstanding choice – Paul Atkins at the helm of the SEC will bring common sense back to the agency. Along with Hester Peirce and Mark Uyeda, it’s time to swiftly and definitively end the prohibition era on crypto, restoring freedom of choice, economic growth, and innovation.”

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Ripple’s XRP Market Response and Technical Analysis

The cryptocurrency treasury news affected prices. XRP dropped 5%. This led to $55.26 million in liquidations. Long positions lost $42.3 million. Short positions lost $12.96 million. The Nasdaq XRP price now tests the 14-day EMA support. There’s more support near $1.96 at the 0.382 Fibonacci level.

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Regulatory Landscape and Future Outlook

The SEC’s case against Ripple Labs might end soon under new leadership. The SEC’s appeal doesn’t fight XRP’s status as a non-security for retail investors. They also cut the fine from $2 billion to $125 million. With Worksport’s crypto treasury move, more institutions might adopt XRP.