Cryptocurrency prices surged as investors anticipate key announcements from the upcoming White House Crypto Summit on March 7, 2025. U.S. President Donald Trump will host the event, bringing together industry leaders, executives, and policymakers. Speculation is rising over potential tax policy changes, including a rumored zero capital gains tax on digital assets. However, even with a presidential executive order, it would require approval from the House of Representatives. The altcoins price, including ETH, XRP, SOL, and ADA price has seen a price rebound over the past 24-hours with BTC gaining 5%.
The White House issued a statement that indicated the upcoming meetings would address electronic assets as well as regulatory frameworks and economic guidelines. The movement of Bitcoin, Ethereum, and XRP prices forward received a significant boost when Trump included these cryptocurrencies in his proposed strategic reserve plans. The prices started declining because investors learned that the congressional approval mandate stands between the reserve plan and its implementation.
Cryptocurrencies Price Spikes: Are Altcoins Poised for More Gains Before Trump’s Summit?
Crypto market analysis has rebounded following recent market declines, pushing the total market cap up by 4.08% to $2.86 trillion. Altcoins have shown recovery, with Bitcoin gaining 4%, Ethereum 5%, and XRP 6%. Other top altcoins, including Solana and Binance Coin, have also followed the upward trend. This market movement comes ahead of the Trump Crypto Summit, set to take place in the on 7th March 2025.
Trump will host a crypto summit on March 7, 2025, scheduled from 1:30 PM to 5:30 PM ET (12:00 AM to 4:00 AM IST on March 8, 2025).
Here’s who’s confirmed to attend:
– Michael Saylor, Founder of Strategy
– David Bailey, CEO of Bitcoin Magazine
– Matt Huang, Co-founder of… pic.twitter.com/qjzKnEFA1L— Crypto India (@CryptooIndia) March 5, 2025
Bitcoin Price Recovers 5%, Is $90k Level Next?l
Over the past 24 hours, the BTC price saw a 5% recovery, reaching $88,761. The BTC price bounced from the $81,529 support but faced resistance at $90,000. With Bitcoin dominance is showing weakness.
The Relative Strength Index (RSI) stands at 53.97, signaling neutral momentum. A break above $90,000 could push BTC toward $100,000, while failure to hold gains may lead to another drop toward $84,000. Market volatility remains high.
ETH Price Eyes 30% Surge Ahead of Trump Crypto Summit
Ethereum price has surged past $2,200, gaining momentum from renewed market optimism. The digital asset secured support at $2,150, fueling expectations of a stronger rebound. ETH recorded a 7% increase over the past 24 hours, now trading around $2,240.
The price surge comes as the market anticipates a key crypto summit involving former U.S. President Donald Trump. If bullish momentum strengthens, Ethereum could climb toward $2,260, with further gains potentially pushing it to $2,500.
Analysts suggest that sustained bullish activity may drive ETH above $3,000, marking a 30% rise. The rally highlights growing confidence in altcoins amid broader market recovery.
XRP Price Holds Key Support as Analysts Eye Surge to $222
Ripple (XRP) price is holding above a critical support trend, signaling a possible breakout. Analysts highlight its strong consolidation above Fibonacci 0.888, aligning with historical patterns.
XRP’s next move could target $8.5 to $13, with a potential Fib 1.618 extension at $27. If history repeats, Fibonacci extensions suggest a possible range between $27 and $222.
What Next for Altcoins?
If BTC holds key support levels, altcoins may continue their bullish momentum. A strong Bitcoin trend often signals increased confidence in the crypto market predictions. This could lead to price surges for major altcoins being the altcoins to watch.
Altcoins such as Solana, Binance Coin, Dogecoin, and Aave could see further gains. Investors are anticipating additional catalysts from the Trump Crypto Summit, which may shape the market’s direction in the coming weeks.
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