However, at most companies, there's no formal requirement that you do so. Most employment in the United States is called "at will", which means that your current employer can fire you at any time and for any reason (except those that are prohibited under law).
You want your intent to be as direct as possible. You are leaving, plain and simple. There's no need to mention where you're going. You can discuss that with your boss (though you're not obligated to do so) and your colleagues if you want, but there's little purpose for including that in your resignation letter. That's especially true if you're moving over to a competitor__you don't want to create ill will in this letter or cause any drama.