XRP, Solana and Dogecoin Lead Altcoin Comeback After Trump Tariff Pause

A trio of the top crypto assets by market cap jumped nearly 10 in an hour after President Donald Trump elected to hit pause on his aggressive tariff plan for the next 90 days. 

The Ripple-linked XRP, Solana (SOL), and Dogecoin (DOGE) all gained at least 7.5 with XRP leading the pack, jumping 10 on the day to $2.04. SOL and DOGE are now up 12.5 and 10.5 in the last 24 hours, respectively, trimming their weekly losses to less than 10 according to CoinGecko. 

“I have authorized a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10, also effective immediately,” the President posted on Truth Social.

The market’s response sent major crypto assets like Bitcoin and Ethereum swiftly upward, now up 6.3 and 11 respectively in the last 24 hours. The traditional equities market followed suit, with major indices like the S&P 500 and Dow Jones marking daily gains of more than 6.5 each. The Nasdaq is up more than 10, with crypto stocks surging as a result.

Gains in altcoins are following in-step, buoyed by the aforementioned trio but extended to other notables like Cardano (ADA), Avalanche (AVAX), and Sui (SUI), all of which now boast daily gains of at least 10. 

Meme coins too are leaping forward, led by flatulence-themed Solana meme coin Fartcoin, which is now up 28 in the last day at $0.725—a gain of 259 in the last month. Other notables on Solana like BONK and WIF have jumped 14 each as well, outperforming even the President’s official token TRUMP, which has only gained 8.1 to $8.25 in the last 24 hours.

Ethereum meme coins Shiba Inu (SHIB) and Pepe (PEPE) are up more than 10 as well, outperforming the meme category as a whole, which is up 8.5 in the last 24 hours according to CoinGecko. 

However, despite the daily reprieve, the alternative assets making a push higher remain well off their all-time highs. 

DOGE is furthest away, down 78 from its peak of $0.73 in 2021. Meanwhile, XRP remains 40 off the high it created in 2018 and Solana is nearly 60 below its January all-time high.

Edited by Andrew Hayward