The recent announcement of the Strategic Crypto Reserve by U.S. President Donald Trump has sent shockwaves through the cryptocurrency markets, leading to heightened risk aversion among traders. Bitcoin (BTC) ended February with a significant decline of 17.39%, marking its most negative performance since 2014.
Included in the Strategic Crypto Reserve are Bitcoin (BTC), Ethereum (ETH), and American-made altcoins including XRP, Solana (SOL), and Cardano (ADA). Initially optimistic, market participants quickly turned fearful, resulting in over $1.07 billion in liquidations on Monday. As traders process these developments, they look ahead to the upcoming White House Crypto Summit scheduled for March 7.
Top 5 Made in USA Altcoins to Watch
XRP, Solana, Cardano, Chainlink (LINK), and Stellar (XLM) have emerged as top contenders in the American-made altcoin category, driven by positive price trends and on-chain analysis. The focus on “made in USA” reflects a growing regulatory clarity for various crypto assets within the country, highlighting support for blockchain innovation and top-tier talent.
Recent analysis has underscored the ascent of the “made in USA” narrative, cementing the country’s position within the global crypto ecosystem.
Notably, the Pi Network (PI) has recently surged into the top 20 tokens by market capitalization, accompanied by significant project developments. Other notable tokens include Hedera (HBAR), Avalanche (AVAX), and Sui (SUI).
As Bitcoin saw a reversal erasing nearly all gains since mid-November, trader sentiment remains shaky, as indicated by the Crypto Fear & Greed Index, which currently stands at 20, signaling widespread fear among investors.
Price Targets for XRP, Solana, and Cardano
XRP Price Analysis
The XRP/USDT daily price chart indicates that the altcoin’s buy zone lies between the 50-day and 100-day Exponential Moving Averages (EMAs), ranging from $2.3020 to $2.5203. The token may test resistance at $3.0030, situated at the upper limit of a crucial imbalance zone.
Technical indicators RSI and MACD are trending positively for XRP, with RSI upwards at 49, nearing a neutral stance. The MACD showcases green histogram bars above the neutral mark.
The XRP price target is set at $3.40, with immediate resistance encountered at $3.0030.
Solana Price Insights
Currently priced at $147.78, Solana is nearing its long-term support level of $150. A daily close above this threshold could indicate potential for a rally toward resistance at $180.
The critical EMAs for SOL—50, 100, and 200 days—extend to resistances at $182.85, $191.30, and $184.91, respectively. Daily momentum indicators support a bullish outlook for Solana.
Cardano’s Price Target
Cardano is currently trading at $0.9973, with its key buy zone positioned between $0.9837 and $0.8235. The token is trading above its three long-term EMAs and may challenge resistance at $1.1723, representing an 18% price increase.
Technical indicators RSI and MACD lend support to a bullish forecast for Cardano.
Anticipations for the White House Crypto Summit
Following the announcement of the Strategic Crypto Reserve, the White House Crypto Summit scheduled for March 7 is poised to be a significant market influencer. The event is expected to attract top industry leaders and policymakers to discuss critical issues affecting cryptocurrency regulation and innovation.
Key figures from the crypto space, along with leaders from top exchanges, will engage in discussions with the White House’s working group on digital assets, with an agenda that includes policy formulation and regulatory frameworks.
Market Dynamics: Bitcoin and Ethereum Derivatives
Recent analysis reveals a sharp increase in Open Interest (OI) for the top five cryptocurrencies. Bitcoin and Ethereum have observed liquidations capped at approximately $218 million and $105 million, respectively, over the past 24 hours, amidst declining volumes.
Bitcoin’s long/short ratio indicates bullish sentiment among traders, who are anticipating price gains in the coming week. Similarly, Ethereum’s Open Interest reflects increased interest, signaling positive expectations among traders.
As institutional interest in Bitcoin lessens, Ethereum experienced its first net positive day of flows, indicating a revival of interest. The upcoming summit is anticipated to play a vital role in shaping trends for Bitcoin and Ethereum as well as altcoin markets.
Disclosure: This article does not constitute investment advice. The content presented is for educational purposes only.
