Why Bitcoin Ethereum and XRP Price are Up Today?
Recently, President Trump’s announcement of US crypto strategic reserves has triggered a huge surge in crypto prices, with market value growing nearly 20% since last Friday!
On Sunday, Trump took to social media to announce that he signed an order to encrypt strategic reserves, including XRP, SOL and ADA. About an hour later, he revealed that BTC and ETH will also be the main players in the reserve. The first three coins he mentioned soared 62% on the day.
It is worth noting that President Trump’s news about holding strategic cryptocurrency reserves of Bitcoin, Ethereum, Solana, Cardano, XRP and possibly more coins have triggered huge growth in the entire cryptocurrency market. Bitcoin jumped 7.5%, Ethereum rose 10.2%, Solana soared 18.8%, Cardano soared 61.7%, and XRP soared 24.5%.
It is worth noting that the top four performers in the last 24 hours (market cap of over $1 billion) are Cardano, XRP, official Trump Memecoin and Solana. BNB has the smallest gains among the top 10 cryptocurrencies (excluding stablecoins), but still rose 2.55%.
Trump’s post has boosted cryptocurrency prices, reversing the sharp drop he has seen after his election surge. Over the weekend, Ether climbed 20% to $2,482, XRP jumped 38%, Solana rose 20%, and Cardano soared 78%. Additionally, the rally could continue into Trump’s first White House crypto summit on Friday.
David Sacks Shared in an X postal Trump’s move is consistent with his executive order (EO 14178) before his first week of office, which reinforces his commitment to making the United States a “cryptocurrency capital.” More details are expected to be revealed during the upcoming summit.
Trump will hold his first White House crypto summit on March 7 to bring industry leaders together to discuss regulations and Stablecoin’s oversight. The event will be hosted by Sacks and managed by Hines.
