U.S. President Donald Trump officially named XRP, Solana (SOL), and Cardano (ADA) as part of a planned U.S. strategic crypto reserve.
- Bitcoin (BTC) and Ethereum (ETH) were later added after initial confusion.
- XRP, SOL, and ADA surged in response, with ADA jumping over 72% in the past 24 hours.
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Trump’s Crypto Reserve Plan
President Donald Trump announced that the U.S. will establish a strategic crypto reserve, listing XRP, Solana, and Cardano as the first assets to be included. The move is part of his broader effort to position the U.S. as a global leader in the crypto industry.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration.”
Donald Trump, written on Truth Social
Trump directed his Presidential Working Group to move forward with formalizing the reserve.
However, his initial post omitted Bitcoin and Ethereum, leading to confusion and frustration among their supporters. An hour later, Trump followed up:
“And, obviously, BTC and ETH, as other valuable cryptocurrencies, will be at the heart of the reserve. I also love Bitcoin and Ethereum!”
Donald Trump, written on Truth Social
Market Reaction
Trump’s post caused a sharp rally in the named assets:
- Cardano (ADA) skyrocketed 72.1% in the last 24 hours.
- Solana (SOL) surged 23.8% to $177.31.
- XRP gained 33.6%, now trading at $2.92.
- Bitcoin (BTC) and Ethereum (ETH) also saw gains of 9.4% and 13.5%, respectively, following their inclusion.
Political and Industry Impact
Trump’s announcement aligns with his campaign promises to support crypto.
- His administration has already signed an executive order forming a digital asset working group.
- The group is set to hold a summit this week with industry leaders and regulators.
Senator Cynthia Lummis previously introduced legislation for a Bitcoin-focused strategic reserve, aiming to acquire one million BTC over five years.
- Trump’s plan appears broader, incorporating multiple assets beyond Bitcoin.
This article is published on BitPinas: Trump Confirms U.S. Crypto Reserve Will Include XRP, Solana, Cardano, Bitcoin, and Ethereum
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