SOL, ADA, XRP Price Surge As Donald Trump Announces Strategic Reserve
Highlights
- President Trump has issued an executive order for a Crypto Strategic Reserve
- The Strategic Reserve extends beyond BTC to include XRP, SOL, and ADA
- The announcement has sent the prices soaring upwards for altcoins.
While conversations for a Bitcoin Strategic Reserve have been swirling in crypto circles, US President Donald Trump has confirmed his administration’s intention to proceed with the offering. Rather than put all its eggs in one basket, Trump is eyeing a Crypto Strategic Reserve including altcoins XRP, SOL, and ADA.
A Crypto Strategic Reserve To Make America Great Again
President Trump has announced plans to launch a US Crypto Reserve that will include BTC, XRP, SOL, and ADA. The President has since directed the Presidential Working Group on Digital Assets Market to proceed with the establishment of a Crypto Strategic Reserve.
“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” said Trump via X.
According to the announcement, the Strategic Reserve is an attempt by the Trump administration to transform the US into the crypto capital of the world. While details are sparse, it appears that Bitcoin will take up the lion’s share of the Strategic Reserve while XRP, SOL, and ADA will jostle for the remaining slice.
It remains unclear when the Strategic Reserve will go live but experts are eyeing the middle of the year with a White House Crypto Summit scheduled to iron out the finer details.
XRP, SOL, And ADA Surge Following The Announcement
The market’s reaction to the report of Trump’s executive order was instant with top coins embarking on a rally. Right off the bat, XRP surged by 32% within minutes of the announcement while SOL spiked by an impressive 22%.
The biggest gainer of the lot is ADA with its staggering 63.14% rally to cross the $1 mark after months underwater. On the other hand, BTC has posted modest gains of only 7% to trade at $90,000 after a price crash under $80,000.
Other altcoins are riding the wave of the seismic announcement to record an impressive upswing. DOGE, ETH, and XLM rose by 12%, 10%, and 18% respectively, sending the total crypto market capitalization over $1 trillion.
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