Uncertainty over the U.S. government’s cryptocurrency holdings is coming back into focus. Speculation continues over whether it holds XRP, but there is no confirmed information.

On March 26, blockchain outlet The Crypto Basic reported that crypto analyst Scott Melker (스콧 멜커) said on a recent podcast, "No one knows how much XRP the U.S. government holds," pointing to a lack of transparency. He also stressed that it is hard to confirm exact holdings of major digital assets such as bitcoin and ether because there has been no official audit.

Expectations are growing in the market that the United States could pursue a strategic reserve of digital assets. Critics say investors are relying on speculation because there is no verified data on actual holdings.

Debate over XRP continues. Some raised scenarios in which the U.S. government could be a potential buyer related to Ripple's escrow holdings, up to 37 billion XRP, and also mentioned the possibility that XRP could be used in the process of paying fines.

But those claims are no more than unverified hypotheses. There has been no official announcement that the U.S. government holds XRP, and the fines are assessed as likely to have been handled in fiat currency.

Mark Yusko (마크 유스코) took a sceptical view of excessive expectations about government crypto holdings. He said most cryptocurrencies held by the government are assets seized in criminal investigations, not intentional purchases, and suggested the idea of a national XRP reserve may also have been exaggerated.

On-chain data show the U.S. government holds a range of cryptocurrencies including bitcoin, ether and stablecoins. Arkham tracking data confirm digital assets worth more than $23 billion in total, including about 328,000 BTC, but they do not include XRP.

Some of those holdings have not yet completed legal procedures, leaving room for future changes. The market expects the U.S. government's actual crypto holdings structure to become clearer if a full official audit is carried out.