- The XRP price surged 10% after Trump’s tariff pause increased investor confidence.
- Big Whale purchases in Solana suggest a very strong belief in its growth potential.
- Solana, XRP, and Dogecoin led the high altcoin surge after the tariff announcement.
Following President Donald Trump’s announcement of a 90-day pause on reciprocal tariffs, the cryptocurrency market experienced a significant surge. Altcoins such as XRP, Solana (SOL), and Dogecoin (DOGE) led the market recovery. XRP saw a 10% increase, and Solana and Dogecoin gained 12.5% and 10.5%, respectively, reducing their weekly losses to under 10%. The surge was spurred by investor confidence following Trump’s decision to lower the reciprocal tariff rate to 10%.
XRP Leads the Altcoin Recovery
Since the listing of the first 2x leveraged XRP ETF (XXRP) in the NYSE Arca, the XRP price has continued on an interesting rally. In essence, factors, including the news of the XXRP ETF and a general market trend for cryptocurrency adoption into traditional finance, have influenced the rise of XRP. But chart readings show that XRP may still retrace further down the price levels.
The above caution, however, comes amid continuous rolling volatility in the markets and regulatory worry. Nevertheless, it seems that XRP recovery has crossed a significant threshold for the coin, especially with the notable day-over-day recovery of around 10%.
Solana and Dogecoin Also Surge
In addition to XRP, Solana and Dogecoin also saw strong price increases, with SOL rising by 12.5% and DOGE climbing 10.5% over the past day. These gains have helped mitigate weekly losses, positioning both tokens in a favorable light as part of the broader altcoin rally. Market analysts are keeping a close eye on these assets, noting that their recovery is a sign of investor optimism driven by the global tariff pause.
The pivotal announcement on the Truth Social platform concerning Trump’s tariff suspension assuaged investors’ fears. This 90-day tariff moratorium and lowering of reciprocal tariffs to 10% shored up investor confidence. This development has positively influenced not just crypto assets but also traditional financial markets.
The global crypto market has improved by 7.22%, taking its market cap up to $2.59 trillion, and has increased the level of trading activities by 9.60% to around $148.87 billion, as stated by CoinMarketCap.
Related: Solana Levels Up Privacy with “Confidential Balances” Upgrade
Whale Activity on Solana Strengthens Confidence
Whale activity has also contributed to the positive sentiment. A whale recently made a move in the Solana market, acquiring 32,000 SOL tokens for $3.72 million. This purchase came after a six-month hiatus and indicates continued confidence in Solana’s long-term potential.
The whale has been working in the Solana ecosystem for several years now, having previously bought 30,541 SOL tokens at $216 and kept on holding even when its price fell below $10. This unwavering commitment, despite the challenging market conditions, highlights a long-term trust in Solana’s prospects.
Given the increase in whale operations, coupled with major macroeconomic developments, an avalanche of bullish sentiments has engulfed the crypto market, especially for XRP, Solana, and Dogecoin. With the crypto environment responding positively to the tariff pause and a few regulatory clarifications in recent weeks, the lingering question is whether these gains will be carried through in the following months.
