XRP, ADA, and SOL Decline More Than Bitcoin as White House Crypto Summit Disappoints Traders

Hopes for major developments in the top cryptocurrencies were unmet on Friday, as the first presidential crypto summit concluded with commitments to stablecoin legislation and reduced regulatory hurdles.

Key Takeaways:

• The White House Crypto Summit, led by President Trump, concluded without the anticipated major announcements on a U.S. strategic crypto reserve, causing altcoins like XRP, ADA, and SOL to decline.
• The event yielded a framework for stablecoin legislation by August and a commitment to easing regulatory pressure, but these measures failed to excite the market.
• Despite the lukewarm response, the U.S. government’s decision to retain its Bitcoin holdings could influence other nations and potentially accelerate global institutional adoption of cryptocurrencies.

The highly anticipated White House Crypto Summit on Friday fell short of traders' expectations, leading to sharper declines in altcoins like XRP, Cardano’s ADA, and Solana’s SOL compared to Bitcoin (BTC).

Investors had high expectations for President Donald Trump’s pro-crypto stance, anticipating major announcements about a U.S. strategic crypto reserve that would highlight key altcoins.

However, the summit’s outcome was more restrained, focusing on a framework for stablecoin legislation by August and promises of reduced regulatory pressure—measures that fell short of sparking market excitement.

Trump criticized the federal government’s previous bitcoin sales, calling them "foolish," and suggested a new informal policy of “never sell your bitcoin.”

XRP fell 3.5% in the past 24 hours to around $2.4, marking a nearly 20% drop from its weekly high of $2.98 following Trump’s initial reserve announcement. Cardano’s ADA declined over 5%, while Solana’s SOL dropped 4%, hovering around $138 as of Saturday afternoon in Asia.

Bitcoin, however, showed more resilience, trading at $86,000—down 2.5% in 24 hours but faring better than the broader altcoin market downturn.

The summit, chaired by Trump’s AI & Crypto Czar David Sacks, was initially seen as a historic moment after Trump pledged to create a U.S. crypto strategic reserve, including BTC, ETH, XRP, SOL, and ADA. His Sunday Truth Social posts triggered a massive rally, with major cryptocurrencies surging up to 60% in anticipation of a major policy shift.

However, on Friday, Sacks clarified that Trump’s mention of those five cryptocurrencies was only illustrative, not a firm commitment, dampening hopes for a prolonged rally.

Despite the market disappointment, the U.S. embracing bitcoin as a reserve asset could encourage other nations to follow suit, potentially acting as a bullish catalyst in the coming months.

“The U.S. prioritizing Bitcoin as a reserve asset not only solidifies its status as ‘digital gold’ but also sets a precedent that could accelerate regulatory frameworks and institutional adoption worldwide,” Vincent Chok, CEO of First Digital, told CoinDesk. “This move will inevitably prompt diverse reactions from global regulators.”

Chok further noted that countries aligned with U.S. policy might be encouraged to establish their own national crypto reserves. The federal government's confidence in Bitcoin could also drive institutions to adopt blockchain technology, boosting participation and injecting liquidity into the decentralized finance market. This shift could extend interest beyond Bitcoin to other digital assets, including stablecoins.