Trump’s Tariffs Cause Cryptocurrency Market Volatility, XRP Suffers Major Losses

President Donald Trump’s recent announcement of new tariffs has triggered significant volatility in the cryptocurrency market. Major cryptocurrencies, including Bitcoin (BTC), experienced steep declines, and Ripple’s XRP fell below the crucial $2 threshold. On Binance, XRP plummeted to an all-time low of $1.98 before recovering slightly to around $2.05. Reported losses exceed $20 million for XRP investors according to CoinGlass, highlighting a significant portion of losses were fueled by selling pressure and long positions liquidation.