Crypto Soars Then Plunges Following Trump’s Post About a Strategic Reserve

Donald Trump’s touch is poison. On Sunday morning the President took to Truth Social to juice the numbers of the cryptocurrencies XRP, SOL, and ADA. He said they’d be part of the forthcoming U.S. Crypto Reserve. For a while after the post, the number went up. But now it’s coming back down again. “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump said on Truth Social. “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN! In a second post he added everyone’s preferred crypto. “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!” He said an hour later. Trump’s posts spiked the price of all five cryptocurrencies. Crypto pric ... Read full article.