Donald Trump provided an explosion of joy on the Cryptomarkt on Sunday, by announcing a national reserve in which Cardano, XRP and Solana would also have a place. Those coins reacted with extreme increases of more than 20%, but now they act lower than for Trump’s large announcement.
Why do the prices fall after this positive development?
Although the announcement of Trump’s Strategic Crypto Reserve is unmistakably positive for projects such as Cardano, XRP and Solana, we should not forget that we are dealing with an unpredictable president.
In principle, Trump has said nothing at all about the size of that possible reserve.
It also does not seem completely clear whether there will be a national crypto reserve at all. He has only pushed his crypto working group in that direction. What exactly we can expect is still completely unclear at the moment.
Perhaps it is a symbolic reserve, in which the United States holds a small amount of those coins, in order to “support” the industry. That is also a victory, but that is of course not what the markets are counting on.
Even more bad news
In addition to the fact that the market was probably too fast about the announcement of Trump, there are also a number of factors that put the financial markets in the penarie.
Firstly, Trump is currently sowing a lot of uncertainty with his trade policy through the many import duties. And the financial markets do not like uncertainty.
In addition, the US economy is also significantly weakening, so that the market is now worried about a possible recession, or even about internship flation.
As long as that fear and uncertainty are above the market, it is unlikely that XRP, Solana and Cardano can move towards new race records.
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Source: https://newsbit.nl/cardano-xrp-en-solana-crashen-en-leveren-complete-trump-stijging-weer-in/
