TRON (TRX) price drops after hints of inclusion in US strategic crypto reserve

TRON (TRX) price has been moving up and down due to speculations that it might be included in the US strategic crypto reserve

The price of TRON (TRX) has been going up and down as people speculate about whether it might be included in the U.S. strategic crypto reserve, which President Donald Trump talked about recently.

What Happened: While announcing his plans for a crypto reserve on Sunday night, Trump named Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) among the cryptocurrencies that would be part of the reserve.

This sparked interest in TRON (TRX) after TRON founder Justin Sun hinted that TRX could also be added. Following the hints, TRX showed a price increase but has since pulled back.

"We will fully back President Trump's cryptocurrency strategy and remain his most loyal supporter in the crypto world," Sun stated on Friday in response to Trump's post on Truth Social.

During an interview with Freshmen Millicon in February, Trump revealed his strategy to create a "strategic crypto reserve" to aid the U.S. in an "economic war" with China.

"We'll put it in a safe place, and we'll have the best crypto people, and we'll build a crypto fortress around it, and we'll have a magnificent, beautiful, incredible crypto structure, the likes of which has never been seen before," Trump elaborated on Sunday on Truth Social.

The former president's announcement on Truth Social, where he listed the top cryptocurrencies, led to a surge in the market, adding $300 billion to the crypto market cap and pushing Bitcoin past $90,000.

However, Bitcoin's price has since dropped below $90K, pulling the entire market downward.

Despite the recent price decline, TRON's price is still moving sideways.

Why It Matters: As Trump continues to discuss his crypto plans, investors are keeping an eye out for any mentions of TRON and any updates on the U.S. strategic crypto reserve.

The price of TRX has pulled back following an earlier surge, mirroring the drop in Bitcoin below the $90K mark.

As of Friday morning, TRX is trading at $0.2286 after a 6% decline.

The TRX price is now testing key support at $0.23, with the next support level at $0.22. A further drop could push the price towards $0.20.

On the upside, resistance remains at $0.24 and $0.25, with a potential rally to $0.28 if TRX regains momentum.

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Also Read: Trump Has Turned Crypto Into A U.S. Weapon - CryptoQuant CEO