Will XRP’s Path to $10 Be Too Late as Trump’s Tariff Warning Fuel Market Volatility? ⋅ Crypto World Echo
Crypto assets, including bitcoin, XRP, and solana, sawrenewed volatility after former US President Donald Trump warned of moretariffs. He said these would be imposed if countries collaborated to harm theU.S. economy.
Trump posted on Truth Social early Thursday, stating that ifthe European Union coordinated with Canada for economic harm, the US wouldimpose “large-scale tariffs.” He added that these tariffs would be higher thanthose already planned, Coindesk reported.
The broader market uncertainty has affected individualcryptocurrencies. Investorsare assessing whether XRP’s price could reach $10, particularly followingthe SEC’s decision to drop its lawsuit against Ripple Labs and the growingadoption of Ripple’s RLUSD stablecoin. However, XRP has declined sinceyesterday, possibly in response to concerns over new tariffs and theirpotential market impact.
Trump Defends Tariffs Amid Economic Concerns
In another post, Trump wrote that the US had been “rippedoff” by many countries for years but that those days were ending. He emphasizedan “America First” stance.
His comments followed reports suggesting that concerns overtariffs were exaggerated and their impact would be more moderate than expected.
Earlier in the month, Trump had implemented 25% tariffs onimports from Canada and Mexico. He also imposed a 20% tariff on Chinese goods.He justified these measures by citing national security concerns related toimmigration and fentanyl trafficking.
New Tariffs Could Disrupt Global Supply Chains
The latest warning suggests further economic tensions withthe EU and Canada. Markets could react with caution as new trade barriers couldaffect global supply chains. Tariffs tend to raise import costs, push inflationhigher, and influence central bank decisions. The Federal Reserve could facemore pressure to tighten monetary policy.
Crypto Market Declines Amid Tariff Uncertainty
For cryptocurrencies, increased trade uncertainty may poseshort-term risks. Crypto markets often follow equities, which tend to declinein uncertain economic conditions. A stronger US dollar, supported by capitalinflows due to tariffs, could further weigh on BTC and other tokens asinvestors shift to safer assets.
Following Trump’s statements, the crypto market saw a briefdownturn during Asian trading hours. XRP and SOL fell by 2%, while ether (ETH)and BNB Chain’s BNB remained mostly unchanged. Dogecoin (DOGE) lost earliergains from a 3.5% increase over the past 24 hours.
This article was written by Tareq Sikder at www.financemagnates.com.
