Major cryptocurrencies XRP, Dogecoin (DOGE), and Cardano (ADA) experienced a significant drop of up to 9% in the past 24 hours after President Donald Trump dashed hopes of a diversified U.S. strategic crypto reserve. Trump directed his administration to establish a Bitcoin Strategic Reserve, which would hold seized bitcoins along with a "crypto stockpile" of other assets seized by the government. This news reversed the bullish momentum that was driven by Trump's earlier comments about including tokens like XRP, ADA, Ether (ETH), and Solana's SOL in the reserve. Bitcoin also dipped 4.5% following the announcement. The market slide resulted in over $400 million in liquidations on bullish crypto futures bets. Traders are now looking to the upcoming White House Crypto Summit but have lowered their expectations and do not expect anything substantial from the event.



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