Trump's Tariffs Spark 6% XRP Drop, Potential 25% Gain

Trump’s ‘Liberation Day’ on April 2 is anticipated to bring significant announcements regarding tariff policies, which could have a substantial impact on the cryptocurrency market. Among the altcoins to watch, XRP stands out due to its recent underperformance compared to other major coins, positioning it for a potential sharp move if market sentiment shifts.

Dogecoin (DOGE), the leading meme coin, is known for its amplified market reactions and could experience significant price movements depending on how the market interprets the upcoming tariff news. RENDER, a top AI coin, could see a strong rebound if the event sparks renewed interest in the AI sector, which has faced pressure in recent months.

XRP has underperformed the broader crypto market over the past week, falling by 6% while major assets like Bitcoin, Ethereum, BNB, and Solana posted slight gains. This divergence suggests a short-term detachment of XRP from the momentum seen in other top coins, potentially positioning it as an oversold outlier. With this underperformance, XRP's price may be primed for a sharper move—up or down—depending on how market sentiment evolves in the coming days, making it one of the most important altcoins to watch in the next few days.

Much of the crypto market is currently reacting to macroeconomic developments, particularly news surrounding Trump’s tariff policies with the upcoming “Liberation Day” on April 2. If these headlines translate into a more bullish outlook for the crypto industry, XRP could benefit disproportionately. In that case, XRP may test and potentially break resistance levels at $2.47 and $2.59, paving the way for a push toward $2.74 and even $2.99. However, if the market turns bearish, XRP could revisit the $2.22 support level. A break below that could accelerate losses down to $1.90.

Meme coins are known for their significant price movements compared to major cryptocurrencies. They often surge higher during bullish trends or suffer sharper corrections during downturns. Dogecoin, the leading meme coin by market cap, is especially sensitive to shifts in market sentiment and often amplifies broader crypto trends. If the upcoming “Liberation Day” tariff news sparks a bullish reaction across the crypto space, Dogecoin could capitalize on the momentum, potentially testing resistance levels at $0.22, $0.24, and $0.26. However, if the broader market responds negatively, meme coins like DOGE are likely to see outsized losses. In that case, DOGE could drop toward the $0.179 support, and if that level breaks, further declines toward $0.16 and even $0.14 would be on the table.

As the global trade landscape braces for potential disruptions, the cryptocurrency market is also gearing up for significant movements. With President Donald Trump's announcement of a 25% tariff on all foreign-made vehicles set to take effect on April 2, the market is abuzz with anticipation. This move, part of a broader trade war strategy, has sparked a rush in bond markets as issuers seek to finalize deals before the tariffs are implemented. The cryptocurrency market, known for its volatility, is also expected to see heightened activity, particularly among altcoins.

Dogecoin (DOGE), a popular meme coin, is one of the altcoins to watch. Meme coins are notorious for their significant price movements, often surging during bullish trends. Given the current climate of uncertainty and potential market volatility, Dogecoin could see substantial price fluctuations. Investors are advised to keep a close eye on this coin as the trade war escalates.

Another altcoin to monitor is XRP (XRP). Despite facing resistance at $2.56 and a 5-year low in circulation, XRP's price movements could be influenced by the broader market sentiment. The trade war and potential tariffs could either drive investors towards safer assets or create a surge in riskier investments like cryptocurrencies. XRP's performance will be crucial to observe as the market reacts to Trump's tariff announcements.

The broader market sentiment, driven by Trump's tariff announcements and the ensuing trade war, is likely to create a volatile environment for altcoins. Investors should be prepared for significant price movements and potential opportunities in the altcoin market. As the countdown to Trump's "Liberation Day" continues, the cryptocurrency market is poised for a period of heightened activity and potential gains.