Bitcoin, crypto surge after Trump names XRP, Solana, Cardano in reserve
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The news: Cryptocurrencies rallied on Sunday after US President Donald Trump talked up digital assets, including XRP, Solana (SOL), Cardano (ADA), Bitcoin and Etherum, in posts on Truth Social.
What they said: Trump said his executive order on crypto "directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA."
In a second post, he added, "obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum."
The context: His late January executive order did not mention specific tokens, only referring to the possibility of a "national digital asset stockpile."
The numbers: Bitcoin, which had tumbled from all-time highs in February, jumped more than 6% after Trump’s second post, reclaiming the USD90,000 ($145,000) level.
Ethereum rallied nearly 10% to around USD2,400. Ripple was up nearly 30% at around USD2.80, Solana climbed 20% to about USD170, and Cardano initially surged over 60% before trading at around USD1.02.
The sources: Donald Trump social media post, Bloomberg
