XRP and Altcoins Surge Following Trump Tariff Pause

By: Eva Baxter

In a surprising turn of events, major altcoins like XRP and Dogecoin have seen a significant resurgence following a 90-day pause on U.S. tariffs announced by President Donald Trump. This suspension of tariffs has provided a much-needed boost to the cryptocurrency market, especially for altcoins that had been under pressure in recent months.

XRP, in particular, has been at the forefront of this rally. The cryptocurrency soared by 13%, successfully reclaiming the $2 price level. This uptick is attributed not only to the tariff pause but also to the advent of the XXRP Exchange Traded Fund (ETF) that was recently launched on the New York Stock Exchange Arca. The launch has been viewed as a pivotal moment for XRP, enhancing its adoption narrative within the traditional finance sector.Learn more about NYSE

Moreover, the broader market context is also favorable as investors digest the potential long-term benefits of reduced trade tensions. A key aspect to consider is that while the tariffs have been partially paused, the tariffs targeting China have increased substantially in response to countermeasures from Beijing. This measure reflects the ongoing complexities of U.S.-China trade relations, which cryptocurrency markets are closely monitoring.View official government announcements

Despite the positive developments, market analysts remain cautious about the sustainability of this rally. XRP's current price movement suggests the formation of a potential triangle pattern on daily charts, indicating the possibility of a future price correction. It remains a critical time for investors as they navigate the ever-evolving dynamics of the crypto landscape.Read about triangle patterns