US President Donald Trump announced Sunday that three cryptocurrencies — XRP (Ripple), SOL (Solana), and ADA (Cardano) — will be included in a new US Crypto Strategic Reserve, sending their market prices surging.
In a social media post, Trump said his January executive order on digital assets would initiate the stockpiling of XRP, SOL, and ADA, as part of efforts to position the US as a global leader in cryptocurrency.
“My administration has directed the Presidential Working Group to advance the Crypto Strategic Reserve, including XRP, SOL, and ADA. I will make sure the US is the Crypto Capital of the World,” Trump said.
Following the announcement, the three cryptocurrencies gained between 10% and 35% in Sunday trading, while broader digital asset markets also climbed.
The move highlights Trump’s alignment with the crypto industry, a key supporter of his 2024 election campaign. The stance marks a shift from the previous administration under Democrat Joe Biden, which prioritized tighter regulation to protect consumers from fraud and money laundering.
Despite initial optimism after Trump’s election victory, cryptocurrency prices have fallen sharply in recent weeks, with major tokens giving up most of their post-election gains. Analysts say clearer regulatory guidance or interest rate cuts from the Federal Reserve could be catalysts for another rally.
Trump is set to host the first White House Crypto Summit on Friday, as his family also launches its own line of digital tokens. However, details on how the reserve will be structured remain unclear.
Legal experts are divided on whether the reserve would require congressional approval. Some argue it could be established through the US Treasury’s Exchange Stabilization Fund, which allows the government to buy and sell foreign currencies without new legislation.
