Quick Take: Solana, XRP Surge Amid Rumors of U.S. Crypto Reserve

Solana’s SOL and XRP rallied Thursday following reports that Donald Trump may support an “America-first strategic reserve” of cryptocurrencies.
Key Details:
Market Reaction:
- SOL: Up 8% to $217.
- XRP: Climbed to $3.35, nearing its 2018 record.
- HBAR: Rose over 10%, despite not being mentioned in the report.
Trumpโs Stance: Reports suggest Trump is “receptive” to including altcoins like SOL, XRP, and USDC in a strategic reserve, alongside bitcoin.
XRP’s Momentum
- Favorable developments in Ripple’s legal battle with the U.S. SEC and increased institutional adoption of RippleNetโs payment network are driving bullish sentiment.
- A shift to pro-crypto SEC leadership and a more crypto-friendly U.S. political climate under Trump add to optimism, per Bitget Research Chief Analyst Ryan Lee.

Skepticism from Experts:
- Lekker Capital’s Quinn Thompson called the idea “ridiculous,” arguing the government shouldn’t make venture-style investments in altcoins, Coindesk reported.
- Innovating Capital’s Anthony Georgiades warned that “nationalizing” digital assets could undermine blockchain decentralization.
Broader Context:
- Trump’s campaign emphasized making the U.S. a crypto leader, including a national bitcoin reserve. (Read more: This is the Price of Bitcoin if Trump Wins โ Bitwise Executive | Key Points | Oct. 24, 2024)
- Senator Cynthia Lummisโ BITCOIN Act proposes acquiring 5% of bitcoin’s supply for a U.S. reserve.
This article is published on BitPinas: Quick Take: Solana, XRP Surge Amid Rumors of U.S. Crypto Reserve
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