XRP up 17%, BTC and ETH Jump by Almost 10% After Trump Announce Plans To Include Them in the US Crypto Reserve

The crypto industry lit up after US President Donald Trump announced yesterday that the US national crypto reserve will include Bitcoin, Ethereum, XRP, Solana, and ADA coins.

XRP prices soared by over 17% after Trump's announcement to hover around £2.11 on 3rd March. Meanwhile, Bitcoin soared by almost 10% to £75,243. Ethereum prices also witnessed similar gains, reaching a high of £2,016. The renewed optimism in the crypto industry comes after weeks of massive liquidations.

'A US 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. I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN,' Trump wrote on Truth Social. 'And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!' However, he didn't mention how much would be invested in each digital asset.

Solana prices were up 15%, but Cardano (ADA) tokens witnessed the biggest jump, soaring by over 50% to £0.79. Even the President's official meme coin, $TRUMP, which was launched in January on the Solana blockchain, jumped over 15% to £13.9. The Republican plans to host a cryptocurrency White House summit this week.

Eric Trump Reacts To Trump's Announcement

Donald Trump's son, Eric Trump, posted on X, formerly Twitter, that he loves the 'genius of announcing a strategic reserve on a Sunday when traditional markets are closed, and Wall Street sleeps. For the first time, retail investors win. Traditional finance better catch up, or it will quickly become extinct.' Eric also urged investors to buy the Bitcoin dip last week.

Meanwhile, MicroStrategy founder Michael Saylor posted on the social media platform that 'Bitcoin is the foundation of the crypto economy.' MicroStrategy has the largest corporate Bitcoin portfolio, with 499,096 tokens. Saylor predicted BTC prices would reach £3.9 million in the long run.

However, other crypto experts like Jan3 CEO Samson Mow said that 'Trump can't just pick what goes into a Strategic Crypto Reserve,' explaining that 'there will be some report/proposal with criteria for what goes into a reserve, then Congress will need to approve.'

He is hopeful that the crypto reserve will soon become a reality because 'Trump seems set on fulfilling his crypto capital promise.' Mow predicted earlier that Bitcoin prices would violently surge to £800,000.

James Butterfill, head of research at CoinShares, was also surprised to see digital assets other than Bitcoin included in the reserve. 'Unlike bitcoin... these assets are more akin to tech investments,' he said. 'The announcement suggests a more patriotic stance toward the broader crypto technology space, with little regard for the fundamental qualities of these assets.'

Overall, the crypto market grew by £238.08 billion after Trump's announcement that the crypto reserve would include the five coins.

Disclaimer: Our digital media content is for informational purposes only and not investment advice. Please conduct your own analysis or seek professional advice before investing. Remember, investments are subject to market risks and past performance doesn't indicate future returns.