ADA, XRP, and SOL Prices Drop After White House Comments on Crypto Reserve
Cardano's ADA, XRP, and Solana's SOL experienced declines on Friday after a White House official clarified President Trump's statement about a proposed U.S. crypto reserve. The reserve was initially said to include ADA, XRP, SOL, bitcoin, and ether.
- The White House official indicated that the president mentioned cryptocurrencies as examples, not definitive inclusions.
- According to CoinGecko, the largest cryptocurrencies by market cap are bitcoin, ether, XRP, Binance's BNB, and SOL, with Dogecoin sixth and ADA following closely.
- Trump's post claimed a U.S. crypto reserve would benefit the industry after criticism from the Biden Administration.
- This announcement faced backlash over concerns of potential corruption with altcoins in a strategic reserve.
- Following these developments, ADA dropped over 5% to $0.82, XRP fell 3.5% to $2.41, and SOL decreased by 2%.
All three tokens are down over the past 24 hours amid a weak crypto market.