U.S. President-elect Donald Trump Plans to Create a National Reserve of Digital Assets, Prioritizing Assets Like XRP

U.S. President-elect Donald Trump is reportedly planning to sign an executive order that will establish a national reserve of digital assets, prioritizing U.S.-developed cryptocurrencies like XRP, Solana (SOL), and USD Coin (USDC).

According to a report by the New York Post on Monday, Trump is considering an “America-first” strategic reserve that will favor cryptocurrencies developed in the United States over other offshore digital assets.

The move is part of Trump's broader efforts to strengthen America's position in the global crypto economy and support domestic blockchain projects over those created outside the country.

As part of the initiative, Trump has reportedly met with the founders of several U.S.-based coins, including XRP, Solana, and USD Coin, in recent weeks.

The proposal has sparked mixed reactions within the crypto community, with some suggesting that favoring U.S.-based tokens could hurt Bitcoin's status as a global cryptocurrency.

However, others have welcomed the initiative, arguing that it will ultimately benefit the U.S. by making it more competitive in blockchain.

"Trump setting a new tone for the crypto industry with his second term is a massive shift in tone from his first term, which saw crypto largely ignored by the administration and Trump officials making disparaging comments about Bitcoin," Chaparro wrote.

"This administration is now setting the stage for crypto to play a major role in 2025, which could be a huge year for crypto in terms of mainstream adoption, institutional investment, and regulatory clarity," he added.

Meanwhile, the prices of U.S.-based cryptocurrencies reacted positively to the news. XRP, which was trading at around $3.05 earlier on Monday, spiked to $3.32 a few minutes after the New York Post published the report.

According to data from CoinGecko, XRP is now less than 2% away from breaking its previous all-time high of $3.4, which was set in January 2018. Over the past 24 hours and seven days, XRP is up 19.5% and 44.53%, respectively.

With a market cap of $190.54 billion and a daily trading volume of $26.77 billion, XRP is the third-largest cryptocurrency on CoinMarketCap.

Solana, another U.S.-based cryptocurrency that could benefit from Trump's initiative, surged 12.81% over the past 24 hours, reaching $211.89 per coin.

Solana, which ranks as the fifth-biggest crypto on CoinMarketCap, has a valuation of $102.52 billion, according to the price tracker.

Sources have told Axios that Trump may also sign several pro-crypto executive orders after his inauguration on Jan. 20, which will further boost the digital asset industry.

These measures could include creating a national Bitcoin stockpile, reversing the de-banking policy that limited banks' engagement with crypto firms, and appointing pro-crypto advocates to key positions.

Trump has already made several appointments that are seen as favorable to the cryptocurrency industry, including appointing David O. Sacks as White House ‘Crypto Czar' and Paul Atkins as incoming SEC Chair.