Investor optimism returned as President Donald Trump's announcement of a 90-day pause on international tariffs was seen as a potential turning point for market sentiment.
Markets React to Tariff News
According to a statement shared by the White House and reposted by Trump on Truth Social, the United States will suspend tariffs for the majority of countries, lowering rates to 10%. The only exception remains China, where tariff rates have been raised to 125%. Markets responded immediately, with U.S. stocks staging one of their largest single-day rallies in recent months.
Crypto Market Also Shows Growth
The cryptocurrency market mirrored the stock market’s move, with Bitcoin rising to $82,000 and major altcoins following suit. The total global crypto market cap jumped over 8% in the last 24 hours, now standing at $2.59 trillion. XRP saw one of the most impressive moves, climbing more than 12% to briefly touch $2.
Uncertainty Persists
Despite the bullish momentum, there is still uncertainty. On higher time frames, XRP is technically within a broader bearish trend, and a sustained breakout is required to confirm a full reversal.
The announcement of tariff suspension has created positive sentiment in the markets, but economic uncertainty may impact further developments.
