U.S. President Donald Trump announced on Sunday that XRP (Ripple), SOL (Solana), and ADA (Cardano) will be part of a new U.S. Crypto Strategic Reserve. The announcement caused a sharp rise in cryptocurrency prices, with the selected assets gaining between 10% and 35% in market trading. Other digital currencies also saw an increase in value following the news.

Trump made the announcement on social media, linking it to his January executive order on digital assets. He stated that the directive instructed the Presidential Working Group to establish a national crypto stockpile, which would include the three mentioned cryptocurrencies. "I will make sure the U.S. is the Crypto Capital of the World," he said.

The move is seen as a significant step in Trump's pro-crypto stance. The Republican leader has received strong support from the cryptocurrency industry in his 2024 election campaign. He has quickly worked to align his policies with the sector's priorities. Under the previous administration, President Joe Biden and his regulators took a stricter approach, aiming to curb fraud and money laundering in the digital asset space.

Despite the recent rally, cryptocurrency prices remain highly volatile. Over the past few weeks, many major digital currencies have lost nearly all the gains made after Trump's election victory. Market analysts suggest that a clear regulatory framework from his administration or signals of an interest rate cut by the Federal Reserve could help push prices higher.

Trump is set to host the first-ever White House Crypto Summit on Friday. The event is expected to bring together industry leaders, policymakers, and investors to discuss the future of digital assets in the U.S. Meanwhile, Trump's family has also entered the crypto space by launching their own digital coins.

Details on how the U.S. Crypto Strategic Reserve will operate remain unclear. Experts are divided on whether the initiative will require congressional approval. Some argue that the reserve could be created using the U.S. Treasury's Exchange Stabilization Fund, which allows the government to buy and sell foreign currencies.

There have also been discussions within Trump's crypto advisory group about using seized digital assets from law enforcement actions to establish the reserve. However, no official decision has been made on this approach.

The crypto market continues to react to Trump's policies, with investors closely watching upcoming developments. The White House summit could provide further insights into the administration's plans for digital assets and the role of cryptocurrencies in the national economy.