Trump's Tariff Pause Sparks 10% XRP, 12.5% SOL, 10.5% DOGE Gains

President Trump's recent announcement of a 90-day pause on tariffs has sparked a significant surge in the prices of various altcoins, particularly XRP and DOGE. This decision, aimed at stabilizing market sentiment, has led to a swift rebound in the cryptocurrency market, with altcoins experiencing notable gains. President Trump stated, “I have authorized a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10%,” which prompted immediate market reactions.

The announcement has had a profound impact on the altcoin market, with Ripple (XRP), Solana (SOL), and Dogecoin (DOGE) all experiencing significant gains. XRP leaped 10% to $2.04, while SOL gained 12.5% and DOGE rose by 10.5% within the last 24 hours. This rapid shift in trader sentiment and market optimism highlights the sensitivity of the cryptocurrency market to geopolitical developments.

The effects of the tariff pause were not limited to altcoins; major cryptocurrencies also enjoyed favorable movements. Bitcoin climbed 6.3%, and Ethereum recorded an impressive 11% upturn within the same period. The correlation between traditional market indices, which also marked gains, suggests an interconnected response to fiscal policies and market sentiment across both crypto and equities. Traders and investors from various sectors are closely monitoring these developments.

A notable highlight of this market surge is the performance of meme coins, which have also benefited significantly. The Solana-based Fartcoin skyrocketed by 28% in one day, showcasing an increase of 259% over the past month. Additionally, other meme-centric assets like Shiba Inu (SHIB) and Pepe (PEPE) also experienced gains exceeding 10%, indicating a broader trend within this niche of the crypto market during this period of heightened volatility.

Despite the optimistic uptrend, many altcoins like DOGE, XRP, and SOL remain significantly below their all-time highs. DOGE is currently down 78% from its peak of $0.73 in 2021, while XRP is 40% off its 2018 high, and SOL is nearly 60% below its January 2022 record. This discrepancy underscores the ongoing challenges and volatility within the cryptocurrency landscape, as assets continue to grapple with broader market conditions.

In summary, President Trump’s recent tariff pause has invigorated the altcoin market, showcasing the reactive nature of cryptocurrencies to external economic factors. As altcoins rally, the potential for sustained growth remains, but it is crucial for investors to remain aware of historical price performances and market sentiment shifts. Watching these trends will be vital for stakeholders as they navigate the complexities of the ever-evolving crypto landscape.