The cryptocurrency market saw a powerful rebound led by popular altcoins such as XRP, Solana (SOL), and Dogecoin (DOGE), following President Donald Trump’s announcement of a 90-day suspension on most reciprocal trade tariffs. The pause injected a wave of optimism into risk assets, propelling several cryptocurrencies to double-digit gains within a day.
XRP took the lead among top-performing altcoins, surging 10% to $2.04. Solana and Dogecoin weren’t far behind, jumping 12.5% and 10.5% respectively over the past 24 hours, as per CoinGecko. These rapid price moves have helped ease the weekly losses for these coins, all of which had been struggling amid recent market turbulence triggered by escalating global trade tensions.
President Trump shared his decision via Truth Social, writing, “I have authorized a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10%, also effective immediately.” The announcement was met with enthusiasm not only in crypto markets but also across traditional financial sectors.
Bitcoin and Ethereum reacted swiftly to the development, with Bitcoin climbing 6.3% and Ethereum gaining 11% in the last 24 hours. Meanwhile, major U.S. stock indices posted strong gains—both the S&P 500 and Dow Jones rose over 6.5%, and the Nasdaq saw a notable 10% surge, further lifting crypto-related equities.
The altcoin rally extended beyond the big three, with other notable tokens like Cardano (ADA), Avalanche (AVAX), and Sui (SUI) also recording daily gains of over 10%. This broader market movement suggests renewed investor confidence in speculative assets following policy clarity from the White House.
Meme coins joined the rally with impressive momentum. Solana’s novelty token Fartcoin jumped a staggering 28% in just 24 hours, reaching $0.725 and boasting a remarkable 259% gain over the past month. BONK and WIF, also Solana-based meme tokens, each advanced 14%, outshining the performance of even the TRUMP token, which only climbed 8.1% to $8.25.
Ethereum’s meme ecosystem followed suit, with Shiba Inu (SHIB) and Pepe (PEPE) both gaining over 10%, helping the overall meme coin market notch an 8.5% daily rise, according to CoinGecko.
Despite the bullish momentum, most altcoins remain significantly below their all-time highs. DOGE is still down 78% from its 2021 peak of $0.73, XRP is 40% off its 2018 high, and Solana continues to lag nearly 60% behind its January top.
While the current rally reflects short-term enthusiasm driven by political decisions, many analysts caution that long-term recovery for altcoins will depend on broader economic stability and continued investor sentiment.