Cardano, XRP, Solana Drop As White House Clarifies Trump's Crypto Reserve Plan

Cardano (CRYPTO: ADA), XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) declined on Friday after a top White House aide suggested President Donald Trump's mention of a broad crypto reserve might have been misunderstood.

Ahead of the White House Crypto Summit, White House crypto czar David Sacks told journalists that the list of included tokens was likely an illustration of leading market-cap assets, not a definitive plan, sparking a market pullback.

The event, attended by major crypto players, follows Trump's recent directive establishing a Bitcoin-centric reserve, distinct from other digital holdings.

Sacks responded to Trump's Mar. 2 social media declaration, where he vowed a "U.S. crypto reserve" to revive the industry after what he termed the Biden administration's harsh policies.

"I think the president just gave five examples of cryptocurrencies in his post. Those five have to be the largest by market cap," the aide explained, cautioning against overinterpretation.

Also Read: US To Conduct Full Audit Of Bitcoin Holdings Following Strategic Reserve Executive Order

Why It Matters: The strategic Bitcoin reserve is seen as a success, as it fulfills a campaign promise without using taxpayer funds.

The executive order establishes a framework for Bitcoin accumulation and sets the stage for nation-state adoption.

The reserve cements Bitcoin’s status as a strategic asset and distinguishes it from other cryptocurrencies.

Despite an initial sell-the-news reaction, analysts predict a bullish long-term outlook for Bitcoin, as the government can now acquire more BTC through budget-neutral strategies, reducing market uncertainty.

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