Crypto markets were mostly back in the red on Monday, with XRP, SOL, and ADA each suffering intraday declines of more than 10 percent after soaring the day before.

President Donald Trump said Sunday that he is directing his newly created digital assets working group to move forward on creating a “crypto strategic reserve” along the lines of existing U.S. reserves of gold and oil.

A backlash over President Donald Trump’s plan to include three small and relatively risky tokens in an eagerly awaited U.S. strategic crypto reserve helped largely erase a rally for bitcoin and other digital assets on Monday.