Trump announces strategic crypto reserve including bitcoin, Solana, XRP and more

Cryptocurrencies rallied on Sunday after President Donald Trump announced the creation of a U.S. strategic crypto reserve that will include bitcoin and ether, as well as XRP, Solana'sSOL token and Cardano's ADA, he said in a post on Truth Social.
"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," the post said. "I will make sure the U.S. is the Crypto Capital of the World."
"And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve," he said in a follow-up post. "I also love Bitcoin and Ethereum!"
XRP surged 33% after the announcement while the token tied to Solana jumped 22%. Cardano's coin soared more than 60%.
Bitcoin and ether gained 9% and 11%, respectively.
Trump is hosting the first White House Crypto Summit on Friday, and investors will be watching closely for more clues about the direction of the reserve plans.
This is the first time Trump has specified his support for a crypto "reserve" versus a "stockpile." While the former involves actively buying crypto in regular installments, a stockpile would simply not sell any of the crypto currently held by the U.S. government.