The prices of XRP, Solana (SOL), and Cardano (ADA) surged following the announcement of a strategic cryptocurrency reserve in the U.S. on March 2, 2025. This initiative aims to position the U.S. as the “crypto capital” of the world, leading to significant price increases for various cryptocurrencies.
- XRP, Solana, and Cardano prices surged.
- Cardano (ADA) increased by 33%.
- XRP price rose 12%, nearing $2.5.
- Solana (SOL) experienced a double-digit spike.
- U.S. aims to become "crypto capital."
- $160 million in crypto liquidated recently.
The announcement regarding the strategic cryptocurrency reserve has created a notable impact on the market. Cardano (ADA) experienced a dramatic price increase of 33%, surpassing the $0.60 mark. XRP, associated with Ripple, saw a 12% rise, nearing $2.5 on the Binance exchange. Solana (SOL) also recorded a significant price spike, contributing to the overall positive sentiment in the market.
In addition to these developments, Bitcoin’s price increased by nearly 4%, approaching $89,000. The announcement has led to a total liquidation of approximately $160 million worth of crypto in just one hour, with long positions accounting for the majority of these liquidations. This volatility underscores the market’s reaction to the strategic reserve plans.
Ripple’s push for a multi-token reserve, which would include XRP, has sparked controversy among Bitcoin advocates who prefer a Bitcoin-only reserve. Despite the pushback, the announcement has generated optimism among investors, leading to increased trading activity across various cryptocurrencies.
The recent announcement of a U.S. strategic cryptocurrency reserve has led to significant price increases for XRP, ADA, and SOL. As the market reacts to this initiative, the implications for both U.S. and Canadian investors remain to be seen.
