XRP and Solana Rise Ahead of Trump's Inauguration
2025-01-18
Bittime - XRP And Solana (SUN) experienced a significant price spike on Thursday, along with rumors that President-elect Donald Trump is considering establishing a strategic crypto reserve with an “America First” approach.
Trump Reportedly Plans to Make Solana and XRP a National Reserve
According to a report from the New York Post citing anonymous sources, Trump is reportedly "open" to the idea of a national strategic reserve that would include Solana, XRP, and the stablecoin USDC. These three assets were developed in collaboration with a blockchain project based in the United States.
Source: Forbes
In last week's meeting, Trump met with Ripple CEO Brad Garlinghouse and legal chief Stuart Alderoty. The report also stated that Trump met with the “founders” of Solana and USDC.
Read too 5 Reasons for Cooperation between Ripple and Banks in Various Countries
Circle's $1 Million USDC Donation to Trump
Circle, the company that issues USDC, recently donated $1 million worth of the stablecoin to Trump's inaugural committee.
Currently, XRP is trading at $3.30, with an increase of 7% in a day and almost 45% in the past week.
Read too How to Buy XRP (XRP)
Meanwhile, SOL is trading at $214.16, up more than 5% in the last 24 hours and more than 14% in the last seven days.
The increase in the price of these two assets occurred amidst crypto market conditions which tend to be stable, according to data from CoinGecko.
Read too How to Buy Solana (SOL)
FAQ
1. What caused the surge in XRP and Solana prices?
The surge in XRP and Solana prices was caused by rumors that President-elect Donald Trump is considering establishing a strategic crypto reserve with an “America First” approach, covering all three assets.
2. What assets are included in the strategic crypto reserve Trump is considering?
The assets considered for the strategic crypto reserve are XRP, Solana (SOL), and USDC stablecoin.
3. How are XRP and Solana prices performing currently?
Currently, XRP is trading at $3.30 with a 7% increase in a day, while Solana is trading at $214.16 with a gain of more than 5% in the last 24 hours.
Reference
Daily Hodl Staff, XRP and Solana Surge in Price Amid Rumors Trump Is Considering ‘America First’ Crypto Reserve: Report, Accessed January 18, 2025
Author: IN
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
.png)