ADA, SOL and XRP surge after Trump statement
Cardano, Solana, XRP surge as Bitcoin rebounds above $90K.
Some altcoins outperformed the broader cryptocurrency market as Bitcoin rebounded above the $90,000 mark, driven by positive news on crypto adoption in the United States.
Notably, Cardano, Solana, and XRP experienced significant gains, with Cardano’s ADA surging over 43% in 24 hours to trade above $0.95.
Key Takeaways
- Cardano Leads the Pack: ADA surged over 43% in 24 hours, reaching $0.9949 amid renewed market optimism.
- Strong Rally for XRP and Solana: XRP climbed over 15% and Solana rose nearly 12%, outperforming Bitcoin’s 7.3% intraday gain.
- US Reserve Inclusion: Trump’s directive to include these altcoins in the U.S. crypto strategic reserve appears to have been a primary catalyst behind the rally.
- Broad Market Recovery: The recovery signals a potential end to last month’s capitulation, where nearly 24% of top cryptocurrencies hit one-year lows.
Trump’s Reserve Move Fuels Altcoin Rally
Nearly a day after U.S. President Donald Trump announced that his Working Group on Digital Assets would include Cardano, Solana, and XRP in the proposed U.S. crypto strategic reserve, these tokens began to rally.
XRP price chart. Source: coinmarketcap.com
Marcin Kazmierczak, co-founder and COO of blockchain oracle provider RedStone, stated that this inclusion was the primary driver behind the sudden price uptick, further supported by a confirming tweet indicating that Bitcoin and Ethereum would form the core of the reserve. This marked a pivotal shift, as institutional sentiment appears to be pivoting toward altcoins alongside traditional giants.
Community Support and Market Recovery
Analysts also point to strong community support for ADA and XRP, whose established followings have attracted retail investors during this bullish phase. The overall crypto recovery, following a period where 24% of the top 200 cryptocurrencies plummeted to one-year lows, suggests that investor confidence is gradually returning.
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Juan Pellicer, a senior research analyst at IntoTheBlock, noted that Trump’s explicit focus on these altcoins signals a significant turning point, potentially extending U.S.-based crypto projects beyond Bitcoin.
Looking Ahead
With these positive indicators, experts believe the rally may continue, particularly if broader market conditions improve and regulatory clarity persists. This development not only reinforces the growing appeal of altcoins but also highlights the evolving dynamics of institutional support in the crypto space.
Recently we wrote, that Coinbase CEO Brian Armstrong has joined the growing debate on the composition of a national crypto reserve, arguing that the United States should adopt a Bitcoin-only approach.
