Donald Trump’s Crypto Reserve has received considerable skepticism from the crypto community. Rather than a stand-alone Bitcoin Reserve, he is proposing to fill a national reserve with XRP, Cardano, and other US-based tokens.

Already, these assets’ weekend gains have evaporated. As Congress seems very unlikely to pass the Reserve bill into law, this plan may have little long-term impact on the market.

XRP and ADA Drop More Than 20%

Since Donald Trump announced a US Crypto Reserve with XRP, Cardano, and Solana, the markets have been conflicted. During his 2024 election campaign, Trump ran on establishing a Bitcoin Reserve, but his recent executive order included a focus on other US-based cryptoassets.

Already, the crypto community has harshly criticized the decision, and it’s only intensifying:

“I’ve been thinking about the US Strategic Bitcoin/Crypto Reserve and there are two possible outcomes: The reserve is BTC and none of the mentioned altcoins actually make it in, or we’re going to accelerate into degeneracy unlike anything seen before,” said Samson Mow, a renowned opinion leader in the space.

Essentially, President Trump cannot simply purchase the requisite amounts of altcoins. The Bitcoin Reserve was premised on the notion that the federal government already controls the relevant assets due to seizures.

However, Congress will need to approve new purchases, and even some Republican party members might be hesitant to do so.

“Nothing new here. Just words. Let me know when they get congressional approval to borrow money and or revalue the gold price higher. Without that, they have no money to buy Bitcoin and shitcoins,” wrote former BitMEX CEO Arthur Hayes.

Several community members have speculated that Trump named these assets to fend off increasingly dire warnings of a bear market.

Although he did cause a pump over the weekend, it completely evaporated by Monday, and the community is not happy. XRP fell by 18%, Cardano dropped by 23%, and the entire crypto market is looking quite bearish.

“XRP basically flat over the last 10 days despite the literal President of the United States posting its ticker and saying it should be part of a US strategic crypto reserve,” said Bloomberg analyst Joe Weisenthal.

A Political Handout?

There are also potential hypotheses that President Trump’s choice to include XRP and ADA was largely because of the company’s political donations to his administration. Solana, too, stood to benefit greatly from Trump’s administration, and TRUMP meme coin was launched on the network.

In other words, it’s incomplete to suggest that these assets are in Trump’s expanded Reserve plan because they’re US-based companies. Each firm’s leadership is also materially entangled with him.

XRP, Cardano, and Solana would all get a direct boost from major federal acquisitions, and the companies’ closeness to the President may influence matters here.

“ETH and SOL make sense, given their strong and growing developer activity. But it’s not clear to me why XRP and ADA were included at all, considering they are virtually ghost chains compared to Ethereum and Solana. Indeed, the total value locked (TVL) and stablecoin capabilities on XRPL and Cardano are tiny compared to other ecosystem players. In my eyes, it somewhat delegitimizes the whole idea of crypto reserve assets like industry mainstays Bitcoin, Ether and Solana,” director of business development at SPACE ID Harrison Seletsky told BeInCrypto.

All that is to say, a lot is standing in the way of Trump’s proposal. The Republicans control Congress, but only by a slight margin. Some Democrats may oppose using taxpayer funds for crypto purchases, while Republican fiscal conservatives may question the impact on federal spending.

Overall, there’s a long way for the US president’s proposed crypto reserve to become a reality.

Onyx has introduced Goliath, a Layer-1 blockchain designed for financial institutions. The project aims to provide a scalable and secure infrastructure for banks and financial service providers. 

Onyx says Goliath will offer transaction speeds comparable to networks like Visa, which processes 24,000 transactions per second. It’s a bold claim, and the mainnet launch will reflect how true this might be. 

Onyx Goliath Will Provide High-Speed Transactions with Proof-of-Stake

Goliath will use a Proof-of-Stake (PoS) consensus mechanism to support high-speed transactions. PoS reduces energy consumption by selecting validators based on the number of tokens staked.

According to the announcement, the project builds on XCN Ledger. Onyxcoin already uses it as a Layer-3 roll-up solution within the Onyx ecosystem. 

Goliath will operate independently as a Layer-1 blockchain but will remain interoperable with existing financial networks.

Also, Onyx has outlined key milestones for the project. The testnet will be deployed in Q3 2025, while the mainnet launch will take place in early 2026. 

Meanwhile, Onyx is also launching a Points Program for its Layer-3 XCN Ledger. Participants who bridge assets like WETH, USDT, CBTC, and USDC from the Base blockchain to Onyx will receive incentives. 

“Onyx Goliath is a revolutionary Layer 1 blockchain aimed at reshaping global finance. Designed for banks and financial institutions, it promises unmatched scalability, security, and speed,” Onyx team wrote on X (formerly Twitter).

While Goliath will introduce a new blockchain layer, XCN will remain on Ethereum. The token will be bridged to the new network, maintaining compatibility with DeFi platforms.

XCN fell over 11% today, but a major drop took place hours before the Goliath announcement. The crypto market has taken a serious beating today, as bearish news from the Federal Reserve has combined with other economic woes to crater the big pump from this weekend.

Indeed, shortly after Onyxcoin jumped up this month, there was a mass exodus of old investors. The team made a valiant effort to regain this sliding momentum, but it slid 50% in February. Earlier today, a whale-led breakout attempt failed, and it doesn’t look like Goliath will do much to halt XCN’s slide either.

Ondo Finance (ONDO) briefly surged almost 20% yesterday, but the gains were reversed within 24 hours. Despite this pullback, ONDO remains a major player in the real-world asset (RWA) sector.

Technical indicators suggest momentum is slowing, while whale activity has declined for the first time in over two weeks. Whether ONDO can recover and push past key resistance levels or continue its correction toward lower support zones will depend on market sentiment and potential future developments regarding its inclusion in the reserve.

ONDO RSI Is Going Down After Reaching Its Highest Levels In 3 Months

ONDO surged in momentum yesterday, pushing its Relative Strength Index (RSI) to 76.1 before cooling off to 54.8.

The RSI is a widely used momentum oscillator that measures the speed and magnitude of price movements on a scale from 0 to 100. Readings above 70 indicate overbought conditions, often signaling a potential pullback.

Meanwhile, readings below 30 suggest oversold conditions that may lead to a rebound. With ONDO’s RSI briefly crossing 70 for the first time in three months, traders took it as a sign of strong bullish momentum before the recent retracement.

Now sitting at 54.8, ONDO’s RSI has dropped back to neutral territory, reflecting a slowdown in buying pressure. This suggests that the recent rally may have been overextended, leading to profit-taking and a potential period of consolidation.

If RSI stabilizes above 50, ONDO could maintain its bullish structure and attempt another move higher.

However, if it continues to decline toward 40 or lower, it could indicate weakening momentum, increasing the chances of further downside.

The Number Of ONDO Whales Dropped For The First Time Since Mid-February

The number of ONDO whales – wallets holding between 1 million and 10 million ONDO – had been steadily increasing since February 17, rising from 203 to 221 by March 1.

However, this trend reversed in the last few days, with the number of whales now dropping to 214. Tracking whale activity is crucial because large holders can significantly impact price movements through their buying or selling decisions.

A rising number of whales often signals accumulation, suggesting confidence in ONDO’s long-term potential, while a decline could indicate distribution, increasing the risk of selling pressure.

Despite the recent drop, the current number of whales remains high compared to previous months. That suggests that broader confidence in the asset is still intact.

However, this is the first decline in over 15 days, which could signal that some large holders are taking profits or repositioning. If this trend continues downward, the RWA coin could face increased selling pressure, potentially leading to further corrections.

On the other hand, if whale numbers stabilize or start rising again, it could indicate renewed accumulation. This would suggest a potential price rebound.

ONDO Falls Below $1

The broader market rally pushed ONDO’s price close to $1.20 yesterday before a correction began, signaling that traders were taking profits.

While ONDO remains a key player in the real-world asset (RWA) sector, its short-term price movement will depend on whether the current pullback deepens or stabilizes.

If the correction continues, it could test support around $0.95. Further declines could potentially bring it down to $0.90 or $0.88. If it drops below $0.80, this would be the first time that has happened since November 2024.

However, if bullish sentiment returns, ONDO could regain momentum, especially if the US takes a more crypto-friendly stance on RWAs or if ONDO is eventually added to the US strategic crypto reserve.

In that scenario, it could break through resistance at $1.26 and $1.44, with a strong rally potentially sending it toward $1.66.