Crypto values dropped drastically over the weekend after President Trump announced new tariffs on goods from Canada, Mexico, and China. The price slash began on February 1, 2025, when Bitcoin fell from around $105,000 to about $92,000. Although BTC rebounded to over $100,000 on Monday, February 4, 2025, Solana and XRP didn’t do so well.Seeing how things have turned out, many Solana and XRP holders are taking shelter with 1Fuel. The new crypto is in its pre-launch phase, but analysts have already predicted that
the coin can reach 100x its current price upon its launch. Could 1FUEL become the perfect alternative to Solana and XRP? Let’s find out.
Trump’s Tariff and the Crypto Market
After Trump’s election victory in November, the crypto market surged because of the popular belief that the new administration would create a more favorable climate for cryptocurrencies. However, the situation changed after he took office. Cryptocurrencies and related stocks fell in premarket trade in response to the most recent tariff announcement.
Trump implemented his long-awaited tariffs, which included a 25% charge on goods from Canada and Mexico and a 10% increase on imports from China. If these levies increase prices, sustained inflation could limit the Federal Reserve’s ability to lower interest rates. This will negatively impact the current price of risky assets like cryptocurrencies.
Current Solana and XRP Market Stats
As part of the crypto market, Solana and XRP were hit by the impact of Trump’s tariff announcement. The notable drop in market sentiment and the crypto fear and greed index plunged Solana’s price by about 6%, which is a relatively better performance than most cryptocurrencies. Although it’s currently about $216, it’s still not close to its price from last week.
On the other hand, XRP initially fell from above $3 to around $2.01 over the weekend. However, with the announcement of a temporary pause on the new tariff on Monday, February 4, 2025, XRP rebounded by about 12% to approximately $2.62.
Despite this rebound, many investors are not confident in the possibility of substantial price increases for both Solana and XRP. This explains why many investors are looking for other crypto with better long-term investment potential. This is where 1Fuel comes into play.
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