U.S. President Donald Trump jolted the cryptocurrency markets with a bold announcement on Truth Social, unveiling plans for a U.S. strategic crypto reserve featuring Cardano (ADA), Solana (SOL), and XRP, alongside Bitcoin (BTC) and Ethereum (ETH). Within hours, ADA skyrocketed 70% to $0.87, SOL jumped 25% to $170, and XRP soared 40% to $2.96, according to CoinGecko data. The broader crypto market swelled by $329 billion, reversing a bruising February sell-off that had shaved $450 billion off its total capitalization since February 20, per Axios reports. By Monday, March 3, at 3:59 AM PST, prices moderated but held gains—ADA at $0.84, SOL at $159, XRP at $2.71—underscoring the announcement’s seismic impact.
Trump’s initial post read, “A U.S. 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.” An hour later, he clarified, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!” The dual posts, tying into his January 23 executive order “Strengthening American Leadership in Digital Financial Technology,” ignited a rally that analysts say could mark a turning point—or a speculative bubble.
The market’s reaction was immediate and ferocious. ADA led the charge, surging 70% in minutes from $0.51, its highest single-day gain since 2021, fueled by Cardano’s reputation as a scalable, research-driven blockchain. SOL, trading at $136 pre-announcement, hit $170—a 25% leap—reflecting its appeal as a high-speed Layer 1 rival to Ethereum. XRP, languishing near $2, rocketed to $2.96, a 40% spike, bolstered by Ripple’s cross-border payment niche and South Korea’s recent adoption of Ripple Custody for institutional storage, announced February 27. Bitcoin and Ethereum, though slower off the mark, gained 11% ($94,164) and 13% ($2,516), respectively, per Reuters, affirming their primacy.
Posts on X captured the frenzy. One user noted, “$ADA up 70%, $XRP 40%, $SOL 25%—Trump just flipped the board.” Another warned, “This is a hype pump—watch the crash when details flop.” Trading volume backed the surge: XRP’s 24-hour volume hit $4.84 billion, SOL’s $8.18 billion, and ADA’s $1.2 billion, per CoinMarketCap, dwarfing their February averages. The total crypto market cap climbed to $3.24 trillion by Sunday afternoon, per CoinGecko, recouping much of last month’s losses tied to macro uncertainty and a $3.3 billion Bitcoin ETF outflow.
Trump’s pivot from crypto skeptic—he called Bitcoin a “scam” in 2021—to cheerleader traces back to his 2024 campaign, where he courted the industry with promises of deregulation and a “strategic national Bitcoin stockpile” at Bitcoin 2024 in Nashville. His January order tasked the Presidential Working Group with evaluating a digital asset stockpile, potentially using $19 billion in seized Bitcoin held by the U.S. government, per Forbes. Adding ADA, SOL, and XRP broadens that vision, aligning with his vow to make the U.S. the “Crypto Capital of the World.” The March 7 White House Crypto Summit, chaired by David Sacks, could flesh out details, but questions swirl: Will Congress approve new acquisitions, or will it lean on existing reserves?
Analysts see both promise and peril. James Butterfill of CoinShares called ADA, SOL, and XRP’s inclusion a nod to “U.S.-made” innovation, contrasting Bitcoin’s global roots. Yet, legal scholars told The New York Times that expanding beyond seized assets requires legislative green lights—a hurdle given Capitol Hill’s crypto divide. Senator Cynthia Lummis, pushing a 1-million-BTC reserve, admitted progress is slow, suggesting states might outpace federal action. Meanwhile, the Federal Reserve’s stance remains murky, with no comment on how a crypto reserve fits its mandate.
Technically, ADA faces resistance at $0.90, with support at $0.70; SOL eyes $180, backed by $150; XRP tests $3, with $2.50 as a floor. The trio’s fundamentals—Cardano’s staking, Solana’s speed, XRP’s utility—lend credence to their rally, but sustainability hinges on policy clarity. Posts on X suggest a “Trump pump” could fade without follow-through, especially after February’s tariff-driven Bitcoin dip to $80,000.
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