"Crypto Market Slumps: XRP, ADA, and SOL Drop Sharply as White House Summit Disappoints"

Alternative cryptocurrencies like Ripple (XRP), Cardano (ADA), and Solana (SOL) experienced sharper declines than Bitcoin (BTC) after the White House crypto summit ended without major announcements. Investors had hoped that former President Donald Trump would introduce a strategic reserve for cryptocurrencies, including these altcoins. However, the summit only resulted in a framework for stablecoin legislation by August and some regulatory easing, which disappointed the market. XRP dropped 3.5% to around $2.40 after peaking at $2.98 earlier in the week, marking a 20% decline from its Sunday high. Meanwhile, ADA fell over 5%, and SOL dropped 4% to settle around $138.