The value of this particular altcoin changes each time an election takes place in the United States.
The world of cryptocurrencies is not immune to the influence of politics, particularly in the United States. The prices and volatility of five digital assets - XRP, Solana, Cardano, Toncoin, and Dogecoin - have been significantly impacted by U.S. presidential elections.
Regulatory Policy and Uncertainty
The Trump administration marked a turning point by integrating cryptocurrency regulation into its presidential platform, a first in election history. The introduction of crypto bills and executive actions, such as Trump's executive order establishing the Strategic Bitcoin Reserve, have had a direct impact on price movements and volatility[1][2][3].
Political Endorsements and Actions
Trump's public advocacy for Bitcoin and other cryptocurrencies, as well as his company's acquisition of $2 billion in Bitcoin, have boosted investor enthusiasm. His administration's moves to create a national crypto reserve, including coins like XRP, Solana, and Cardano, have lent legitimacy to these assets, fueling price rallies and volatility around elections and policy announcements[1][3].
Regulatory Enforcement and Investigations
Crypto regulation in the U.S. has often been characterized by "regulation by prosecution," where announcements of investigations lead to sharp price drops. For example, XRP’s price crashed by 63% after the SEC pursued Ripple in 2020[2].
Continuous Trading and Lack of Circuit Breakers
Unlike traditional stock markets, cryptocurrency markets operate 24/7 with no trading halts to cushion sudden shocks. This absence of circuit breakers escalates price volatility, especially during politically sensitive periods like elections when news can rapidly affect investor behavior[2].
Broader Legislative Changes
In July 2025, the "GENIUS Act" was passed under President Trump’s administration, creating formal federal crypto regulation for the first time. While this legislation may stabilize parts of the market, risks related to volatility, theft, and fraud remain, keeping prices susceptible to sharp fluctuations during election cycles and after policy shifts[4].
Other Factors
Elon Musk's closeness to Donald Trump favored Dogecoin, causing a 24% increase in its price. The narrative of privacy and decentralization gave Toncoin an additional boost due to its alignment with certain political sectors' libertarian discourse[5].
Changes in the White House can be as determinant as market movements for these cryptocurrencies. Every U.S. presidential election reshuffles the crypto playing field, and some altcoins like XRP, Solana, Cardano, Toncoin, and Dogecoin have learned to adapt and capitalize on those changing rules[6].
In conclusion, the prices and volatility of XRP, Solana, Cardano, Toncoin, and Dogecoin around U.S. presidential elections are shaped by changing regulatory landscapes, political endorsements, executive actions, enforcement practices, and the inherently continuous and unregulated nature of crypto markets. These factors combine to create often sharp, election-linked price reactions and persistent volatility in these cryptocurrencies[1][2][3][4].
[1] CoinDesk. (2021, October 20). Trump's Crypto Executive Order: What It Means and What Comes Next. Retrieved from https://www.coindesk.com/policy/2021/10/20/trumps-crypto-executive-order-what-it-means-and-what-comes-next/
[2] Cointelegraph. (2021, December 21). XRP price analysis: Ripple's legal woes continue as SEC lawsuit looms. Retrieved from https://cointelegraph.com/news/ripples-legal-woes-continue-as-sec-lawsuit-looms
[3] Blockchain.news. (2021, October 26). Trump's Executive Order on Crypto: A Game Changer for the Industry. Retrieved from https://blockchain.news/news/trumps-executive-order-on-crypto-a-game-changer-for-the-industry
[4] Cointelegraph. (2022, July 21). US Senate passes bipartisan crypto bill as Biden signs executive order. Retrieved from https://cointelegraph.com/news/us-senate-passes-bipartisan-crypto-bill-as-biden-signs-executive-order
[5] CoinDesk. (2021, May 8). Elon Musk's Dogecoin Tweet Sends Price Soaring 30%. Retrieved from https://www.coindesk.com/markets/2021/05/08/elon-musks-dogecoin-tweet-sends-price-soaring-30-percent/
[6] Cointelegraph. (2021, November 3). XRP, Solana, Cardano, Toncoin, and Dogecoin: The Cryptos Sensitive to U.S. Presidential Elections. Retrieved from https://cointelegraph.com/news/xrp-solana-cardano-toncoin-and-dogecoin-the-cryptos-sensitive-to-us-presidential-elections
Further regulation in finance could lead to greater investment opportunities in cryptocurrencies. The level of legitimacy lent to specific digital assets, such as XRP, Solana, and Cardano, by political endorsements and actions can impact their value and volatility.
