Market Sell-Off: ADA, XRP, SOL Tumble 21%, Undoing Trump-Driven Surge

ADA, XRP, SOL Crash 21%, Erasing Gains From Trump’s Crypto Reserve Plans

The excitement around President Donald Trump’s U.S. crypto strategic reserve announcement was short-lived, as Cardano (ADA), XRP, and Solana (SOL) plummeted 21% on Tuesday, wiping out the massive gains sparked by Sunday’s news.

Trump’s declaration that ADA, XRP, and SOL—alongside Bitcoin (BTC) and Ethereum (ETH)—would be part of a government-backed digital asset reserve sent the market soaring. ADA skyrocketed 60%, XRP surged 33%, and SOL jumped 22% within hours. However, profit-taking and broader macroeconomic concerns led to a sharp reversal.

“Markets got ahead of themselves,” said Kevin Guo, director of HashKey Research. “The reality is that there are still no clear details on how or when the government would actually accumulate these assets.”

Adding fuel to the sell-off, Trump’s new trade tariffs rattled investors. On Monday, he doubled tariffs on Chinese imports to 20% and confirmed that 25% tariffs on goods from Mexico and Canada would take effect Tuesday. In response, China imposed a 15% duty on key U.S. imports, including wheat, corn, and meat.

The renewed trade tensions triggered a sell-off across risk assets, including crypto. Bitcoin fell 9% to $84,000, while Ethereum lost 12%, slipping to its lowest level since 2023.

With the first-ever White House Crypto Summit set for Friday, traders are watching closely to see if the administration provides more concrete details—or if the market remains stuck in uncertainty.