March 24, 2025

Trump’s Tariff Talk Sends Bitcoin, XRP and Solana Climbing

By OUINEX

Cryptocurrencies rallied sharply on Monday, buoyed by a surprisingly upbeat turn in the world of US politics.

Bitcoin, XRP, and Solana led gains across the market, as investors responded to reports suggesting Donald Trump’s proposed tariffs, expected to be unveiled on April 2, will be less aggressive than feared.

Solana surged over 5%, while Bitcoin and XRP posted smaller but still meaningful gains. The moves mirrored a similar rise in S&P 500 futures, reflecting broader relief across financial markets.

The gains come at a time of heightened uncertainty about how potential future US policy could impact global trade and, by extension, risk assets like crypto. But Trump’s comments over the weekend, promising a “targeted, intelligent approach” rather than sweeping tariffs, seemed to calm nerves.

“Markets like clarity,” said analyst Rachel Yu of DeFi Insights. Even if they don't agree with the direction of policy, anticipating future developments is crucial.

Cryptos, once thought to move independently of traditional equities, are now increasingly showing correlation with macro sentiment. When stocks rise on economic optimism, crypto tends to follow.

Traders are now eyeing April 2 as a key date. A dovish tariff strategy could fuel another leg higher. However, if the rhetoric shifts back to harsh language, the rally could quickly reverse.