Trump Unveils US Crypto Reserve: XRP, SOL, ADA Surge
1min read Former U.S. President Donald Trump has announced plans to establish a U.S. Crypto Strategic Reserve, which will include XRP, Solana (SOL), and Cardano (ADA). The announcement comes as a surprise to the crypto community, as Bitcoin was widely expected to be the foundation of any federal digital asset holdings.
Trump framed the initiative as a countermeasure to what he called "corrupt attacks" on the cryptocurrency industry under the Biden administration. He posted on Truth Social, "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. I will make sure the US is the Crypto Capital of the World."
The announcement builds on Executive Order 14178, signed earlier this year, which established the Presidential Working Group on Digital Asset Markets. Led by Crypto Czar David Sacks, the group was tasked with shaping a national framework for digital assets, including the potential for a government-held cryptocurrency reserve.
Following the announcement, all three tokens jumped significantly. XRP surged nearly 20%, reaching $2.60 after previous indicators suggested the altcoin might dip under $2 in the bear market. Cardano witnessed the biggest rally, with ADA up 30% in the past hour. Solana is also up by nearly 15% in the past hour.
Trump's push for a national crypto reserve could set the stage for sweeping legislative changes, including potential crypto-friendly tax policies and regulatory overhauls. The Presidential Working Group's recommendations are expected in the coming months.
