Behind the news of Ripple's plan to establish a $1 billion XRP reserve, a larger macro pattern is quietly changing.

At the start of 2026, the Trump administration rolled out a new set of economic measures. Where is the promised tariff barrier? Suddenly, there was a major shift. Plans to increase tariffs on some furniture and cabinets were postponed, and tariffs are no longer a trade fortress but rather a bargaining chip at the negotiation table. Wall Street analysts have sensed the change: the power of tariffs is waning.

A more aggressive move has arrived—the trillion-dollar tax rebate plan. The "Big and Beautiful Act" tax cuts have taken retroactive effect, and over 100 million Americans are expected to receive tax refunds during the filing season, averaging about $3,278 per person. Where will this money go? Consumption, investment, or crypto asset allocation? JPMorgan's warning is worth noting: this liquidity will directly stimulate consumption, push up inflation, and the Congressional Budget Office estimates it could boost GDP growth by 0.4% in 2026.

For a moment, optimism spread. GDP growth forecasts were raised to 3.0%-3.5%, and the "Roaring Twenties" probability soared to 60%. The market is optimistic, but risks are also brewing.

Treasury yields could spike due to debt issues, worsening European geopolitical tensions could disrupt the entire plan, and most painfully—so much liquidity might completely disrupt inflation expectations. The Federal Reserve's attempt to cut interest rates? Difficult. For the crypto market, abundant liquidity is both an opportunity and a risk exposing the inflation spiral. This economic gamble driven by tariffs and tax rebates is being watched by markets worldwide.