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The post Why Bitcoin, ETH and XRP Are Rising? appeared first on Coinpedia Fintech News
Recently, President Trump’s announcement of a U.S. Crypto Strategic Reserve has sparked a huge surge in crypto prices, with the market cap jumping nearly 20% since last Friday!
On Sunday, Trump took to social media to announce he’d signed an order for a Crypto Strategic Reserve, including XRP, SOL, and ADA. About an hour later, he revealed that BTC and ETH would also be key players in the reserve. The first three coins he first mentioned surged up to 62% that day.
Notably, President Trump’s news of a Crypto Strategic Reserve holding Bitcoin, Ethereum, Solana, Cardano, XRP, and potentially more coins triggered massive gains across the crypto market. Bitcoin jumped 7.5%, Ethereum rose 10.2%, Solana surged 18.8%, Cardano skyrocketed 61.7%, and XRP soared 24.5%.
Notably, the top four performers in the last 24 hours (with a market cap over $1 billion) were Cardano, XRP, the Official Trump memecoin, and Solana. BNB had the smallest gain among the top 10 cryptocurrencies (excluding stablecoins), but still rose by 2.55%.
Trump’s posts gave crypto prices a boost, reversing the sharp drop seen after his election surge. Over the weekend, Ether climbed 20% to $2,482, XRP jumped 38%, Solana rose 20%, and Cardano soared 78%. Furthermore, the rally could keep going right into Trump’s first White House Crypto Summit on Friday.
David Sacks shared in an X post that Trump’s move aligns with his earlier executive order (E.O. 14178) from his first week in office, reinforcing his commitment to making the U.S. the “Crypto Capital of the World.” More details are expected to be revealed during the upcoming summit.
Trump will host the first White House Crypto Summit on March 7, bringing together industry leaders to discuss regulation and stablecoin oversight. The event will be chaired by Sacks and managed by Hines.
