Bitcoin, Cardano, XRP Surge as Trump Boosts Crypto

Bitcoin, Cardano, and XRP emerged as significant winners as the cryptocurrency market rebounded, sparking interest in the next big players in the market. After a $20,000 price drop between February 21st and 28th, Bitcoin (BTC) recovered and surged beyond the $94,000 mark, leading to a market-wide rally that saw numerous altcoins soar.

Cardano (ADA) is threatening to break past the $1 mark, while XRP (XRP) has recovered from its late February losses. Established altcoins are not the only ones gaining attention; investors are also showing interest in tokens still in their presale phase, such as Solaxy (SOLX) and BTC Bull Token (BTCBULL), which are bursting through their funding goals.

President Donald Trump's recent posts on Truth Social have sparked interest in BTC, ADA, XRP, SOL, and ETH, as he plans to include them in the upcoming crypto reserve. Trump's pro-crypto stance during his 2024 election campaign has historically driven up cryptocurrency prices. According to data from Arkham, the US government already owns over $18 billion worth of BTC, which could form the backbone of its crypto reserve.

Standard Chartered's Head of Digital Assets Research, Geoff Kendrick, is confident that Bitcoin stands a chance to soar to $200,000 by the end of this year and potentially reach $500,000 during Trump's presidency. This prediction has become more feasible for the leading cryptocurrency.

Trump's inclusion of ADA could see the token explode past its 2021 all-time high of $3.10, signaling a shift toward embracing innovative blockchain technologies for the US government. Over the past 24 hours, ADA gained 47.83%, pushing its price to $0.9783, which is above its 50-day Simple Moving Average (SMA) of $0.8515, indicating strong potential for further short-term gains.

The president's endorsement of Ripple's XRP comes at a crucial time, as it could help the token unlock its full potential once it gains regulatory clarity and the years of legal battles between Ripple and the SEC come