Bitcoin and Ether Slide, XRP Holds Strong After Trump Slaps 30% Tariff on EU and Mexico

Bitcoin Down: Trump Escalates Trade War with Tariffs

Donald Trump triggered global economic tension again by announcing a 30% import tariff on all goods from the European Union and Mexico. The announcement came via his Truth Social account on July 14. He addressed both European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum directly, claiming the tariffs were necessary to “correct decades of unfair trade.” that makes Bitcoin Down.

The policy will take effect on August 1, just months before the U.S. presidential election. Analysts say the move aims to boost Trump’s protectionist stance and win favor among domestic manufacturers and voters.

Crypto Market Responds Swiftly
Following the announcement, Bitcoin prices dropped 0.6%, trading around $117,400. Ether followed suit, falling 1% to $2,930. Solana lost 2.4%, while Dogecoin dipped 2.1%. Even BNB, which had shown strength earlier this week, dropped 0.9% during the sudden correction.

Altcoins reacted sharply due to increased risk sentiment and fears of prolonged global trade instability. Many traders are now questioning whether macroeconomic risks could overshadow crypto’s internal bullish momentum.

XRP Defies the Downtrend
Unlike other major tokens, XRP held firm. It remained close to $0.62 with very little movement. Market analysts say this stability could reflect XRP’s strong community support and lower exposure to macro-sensitive investors.

Another factor could be the legal clarity XRP enjoys compared to many other tokens. This could make it a temporary safe haven in times of uncertainty.

Investors Brace for More Volatility
With the Federal Reserve’s interest rate meeting scheduled for next week, and the upcoming U.S. election in November, investors expect more market-moving events. If Trump wins, some analysts believe more tariffs may follow — possibly extending to China and Southeast Asia.

For now, crypto markets remain jittery. While XRP shows signs of strength, Bitcoin and other altcoins could face additional pressure if trade tensions continue to rise.