Shock Trump leak triggers huge crypto price rally, boosting Bitcoin, XRP and Solana

Bitcoin and cryptocurrencies including Ripple’s XRP and Ethereum rival Solana have soared since Donald Trump’s election (with the market bracing for a bombshell next week).

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The price of bitcoin, currently hovering around $100,000 per bitcoin, has more than doubled over the past year, pushing the combined bitcoin, ethereum, XRP, solana and crypto market to nearly $4 trillion, as bullish traders step up their bets on Trump to follow through on his speech. plans for a bitcoin reserve in the United States.

Now, as the Federal Reserve grapples with a nightmare scenario, a leak has revealed that the new Trump administration could create a broader crypto reserve, prioritizing US-created cryptocurrencies such as XRP and solana.

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A “US-first strategic reserve” would support Solana, a more established Ethereum competitor, the USDC stablecoin issued by Circle and backed by leading crypto exchange Coinbase, and XRP, developed by the Ripple company to facilitate cross-border payments , it was reported by the New York Post, citing anonymous sources.

THE Job described Trump as “receptive” to the idea following meetings with Ripple Chief Executive Officer Brad Garlinghouse and Coinbase’s Brian Armstrong.

Earlier this month, Circle CEO Jeremy Allaire posted on attract the good graces of the new administration.

In July, then-Republican candidate Donald Trump promised to create a “strategic national bitcoin reserve” and predicted that bitcoin could eclipse the $16 trillion market capitalization of gold of dollars, during an appearance at the Bitcoin 2024 conference.

The price of Ripple’s could soften.

“Compared to other cryptocurrencies, XRP has demonstrated remarkable strength,” Arthur Azizov, chief executive of cryptocurrency platform B2BInPay, said in emailed comments. “While others have experienced pullbacks, XRP has simply been accumulating quietly, and it is now heading towards its all-time high, which it is likely to surpass.”

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This week one Reuters report that says the United States Securities and Exchange Commission (SEC) is preparing to review the agency’s cryptocurrency policies, citing anonymous sources.

“Given recent developments, such as reports that Trump considers XRP as a strategic reserve and its growing popularity in Google searches, where it overtakes bitcoin, the potential of XRP is clear,” Azizov said, predicting that XRP price will climb to over $10 in 2025.

Meanwhile, Ethereum rival Solana has surged higher as traders bet that a more crypto-friendly SEC will face a flood of crypto exchange-traded funds (ETFs).

“The price of solana rose well above the $200 mark today due to speculation about a potentially imminent approval for a solana ETF,” Chris Chung, founder of the solana exchange Titan, said in comments sent via email, highlighting four proposals that have upcoming decision deadlines. week, January 25.

“But we have to keep in mind that an approval on the 25th is not guaranteed and if these initial proposals are rejected, it could cause a sell-off,” Chung said. “Similarly, we’ve seen many cases recently where investors are buying the rumor and selling the news, which could be the case for Solana ETFs. Ultimately, it’s worth preparing for increased volatility, whatever whatever the decision.”

Wall Street giant BlackRock has led a campaign to gain approval for a spot Bitcoin ETF in the United States in 2023, with a fleet of Bitcoin funds debuting in January last year, followed by ‘a series of Ethereum funds.