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The cryptocurrency markets are experiencing one of their most dramatic days in a long time. Bitcoin (BTC) has dropped by 6%, but altcoins have been hit even harder. Ethereum (ETH) has lost 18%, while XRP has plunged by a staggering 20%. Panic is spreading, and worried investors fear this could only be the beginning of further losses.
Trump’s Trade War Puts Crypto Markets Under Pressure
The massive crash across almost all cryptocurrencies began after reports emerged that President Donald Trump had initiated a trade war with China, Canada, and Mexico. Additionally, Trump threatened new tariffs on products from BRICS nations, including Brazil, Russia, South Africa, India, and China.
These harsh measures have significantly increased market uncertainty, shaking investor confidence. In response, the affected countries are preparing countermeasures, raising fears that this could mark the start of a global trade war with severe economic consequences.
XRP Price Plummets 34%
Among the hardest-hit cryptocurrencies today is XRP.
In the early hours of the morning, around 03:00 AM, the price dropped to a low of $1.91, marking a massive 34% decline in just 24 hours—after previously trading at $2.91.
Since then, XRP has slightly recovered and is now trading at $2.32, but for investors, this offers little relief given the severe losses.
Conclusion
The crypto markets are facing turbulent times due to geopolitical tensions and the looming trade war.
Although XRP has managed a slight recovery, the situation remains fragile. Investors will be closely monitoring Trump’s economic policies and potential retaliatory actions from BRICS nations in the coming days.
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