Ethereum, XRP Drop as Altcoins Brace for New Trump Tariffs on EU, Apple
Altcoin prices declined on Friday following President Trump's threat to impose new tariffs on the EU and Apple. Ethereum dropped 4.1% to $2,550, XRP fell 3.6% to $2.35, Dogecoin decreased 3.6% to $0.23, and Solana edged down 0.8% to $177. Trump announced potential 50% tariffs on EU imports and 25% tariffs on non-U.S. manufactured iPhones. The trade threats disrupted a previously positive market sentiment, leading to a spike in gold prices and declines in Wall Street indices. Meme coins like Official Trump ($TRUMP) fell 13% to $13.47. Bitcoin's price decreased 2.7% to $108,500, retreating from a recent high. Bitcoin's dominance in the crypto market increased to over 62%. While a renewed trade war could potentially boost interest in decentralized systems, reduced investor risk appetite is expected to negatively impact altcoin valuations.
