The cryptocurrency market reacted strongly to President Donald Trump’s announcement on March 2. He revealed that Bitcoin, XRP, Solana, Cardano, and Ethereum would be part of a new US strategic crypto reserve.
This initiative aims to establish the United States as a leader in the digital asset space. The news led to a surge in major cryptocurrencies before a brief market correction.
Also Read: SEC Has Dismissed Ripple (XRP) Lawsuit, EX White House Official Reveals
White House Crypto Summit Set for March 7
The White House will host its first-ever Crypto Summit on March 7, with President Trump leading discussions on digital assets. The event is expected to shape future policies on crypto regulation and innovation.
The White House AI and Crypto Czar David Sacks will host the event. Bo Hines, the executive director of the working group, is assisting in the coordination.
The XRP community will see its leader, Ripple’s CEO, Brad Garlinghouse, attending the event and representing the interests of community members. Other industry leaders attending include MicroStrategy’s Michael Saylor and Chainlink’s Sergey Nazarov.
Key figures like Coinbase’s Brian Armstrong, Kraken’s Jesse Powell, and the Winklevoss twins will also join.
Regulatory Discussions and Strategic Reserve Plans
The summit will focus on the role of the US strategic crypto reserve and regulatory policies. Topics include stablecoin oversight, opposition to a US central bank digital currency (CBDC), and the potential for tax-free crypto sales.
The XRP community and the entire crypto industry can expect a breakdown of the reserve’s allocations for BTC, ETH, XRP, SOL, and ADA is expected. The cryptocurrency(s) with higher allocations could see increased demand.
Trump’s stance on crypto has shifted since taking office. Under his administration, the SEC has halted enforcement actions against several crypto firms, aligning with efforts to promote innovation.
SEC Considerations and XRP Market Reactions
Following Trump’s announcement, XRP surged by 35% to a peak of $2.9 before dropping and trading at $2.49 on Wednesday, 05 March. Investor focus has shifted to the White House Crypto Summit, where further details on the strategic reserve will be revealed.
Meanwhile, speculation over whether the SEC will withdraw its appeal against the Programmatic Sales of XRP ruling is growing. The agency has already dropped cases against Coinbase and Kraken while reassessing its legal stance on Binance.
The SEC’s next closed meeting on March 6 will address crypto enforcement actions. Any decisions made could impact discussions at the summit and influence regulatory direction. The White House Crypto Summit is expected to outline long-term strategies shaping the future of digital assets in the US.
Also Read: XRP Price Prediction for March 31, Not What You Expect
