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.

Trump’s 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 RippleNet’s 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:

This article is published on BitPinas: Quick Take: Solana, XRP Surge Amid Rumors of U.S. Crypto Reserve

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