The cryptocurrency market continues to experience volatility, particularly with coins such as Ethereum and XRP showing price declines.
Current Prices for ETH and XRP
Currently, Ethereum (ETH) is priced at $2,531.85, down 4.47% in the last 24 hours. XRP is trading at $2.33, reflecting a decline of 3.84% over the same period.
Geopolitical Pressures
One of the factors contributing to this drop is former U.S. President Donald Trump's announcement of proposed 50% tariffs on European Union goods. In a Truth Social post, Trump cited stalled trade negotiations and accused the EU of unfair practices, suggesting the tariff take effect from June 1, 2025.
Impact on the Crypto Market
Sentiment in traditional financial markets is also under pressure, with sharp declines in indices such as Germany’s DAX and France’s CAC, both falling over 2.6%. Such geopolitical tensions are likely to weigh on the cryptocurrency market as investors brace for potential economic instability.
In summary, the current situation in the cryptocurrency markets is closely tied to geopolitical conditions and the reactions of traditional financial institutions to economic instability threats.
