XRP and Dogecoin surged 20% before experiencing a significant dip following China’s announcement of retaliatory tariffs on the U.S. The tariffs imposed by former President Trump on imports from Canada, Mexico, and China contributed to a notable drop in Bitcoin and wider equity markets. While XRP and DOGE initially saw gains, these were erased as traders reacted to the evolving tariff situation, which raises concerns about the potential for a broader trade conflict. Market analysts express mixed views on the long-term implications of these developments, with some suggesting that if crypto-friendly policies are introduced in the U.S., the negative impact may be mitigated. Meanwhile, traders are considering the potential for increased volatility in the crypto market as they grapple with the uncertainty of the ongoing U.S.-China tariff conflict, which could reduce appetite for risk assets like cryptocurrencies. The interaction between crypto markets and traditional equities amidst these tensions continues to unfold, highlighting the interconnectedness of global trade policies and digital asset trading.

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