{"id":11199,"date":"2025-02-04T08:01:43","date_gmt":"2025-02-04T08:01:43","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=11199"},"modified":"2025-02-04T08:01:43","modified_gmt":"2025-02-04T08:01:43","slug":"xrp-and-dogecoin-surged-20-then-dipped-as-china-tariffs-dent-crypto-rebound","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=11199","title":{"rendered":"XRP and Dogecoin Surged 20%, Then Dipped as China Tariffs Dent Crypto Rebound"},"content":{"rendered":"
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Crypto majors zoomed as much as 20%, before reversing, in the past 24 hours as a buy-the-dip strategy following Monday\u2019s $2.2 billion turned profitable for risk-takers, although gains were wiped as China announced retaliatory tariffs on the U.S.<\/p>\n

The bump saw a pull back during the Asian morning hours as the deadline for the U.S. to impose additional tariffs on China passed without an agreement. <\/p>\n

XRP, dogecoin (DOGE), Solana\u2019s SOL, and Cardano\u2019s ADA are up nearly 3%. Bitcoin (BTC) and ether (ETH) are nearly 4% higher.<\/p>\n

“The U.S.-China tariff conflict could decrease the appetite for risk assets and further impact the positive sentiment that has been fueling a bull market in the crypto industry over the past year,” Ben El-Baz, Managing Director of HashKey Global, told CoinDesk in a Telegram message. “The damage from the tariffs could still be made temporary if more crypto-friendly policies in the U.S. are set in motion,” El-Baz added.<\/p>\n

Traders remain mixed on the long-term impact of China’s retaliatory decisions, however, with markets hinging on the chance of a reversal or a prolonged drawdown if further actions against the country happen under Trump.<\/p>\n

“Despite more people considering Bitcoin as digital gold, it still largely trades like a risk asset,” Min Jung, research analyst at Prestro Research, told CoinDesk in a Telegram chat. “As a result, China\u2019s retaliatory 10% tariff on the U.S. is pressuring crypto, much like other global risk assets such as equities.”<\/p>\n

“While today\u2019s initial reaction may have been an overreaction, heightened volatility is likely to persist as markets digest further developments. The key question now is whether this move is primarily a negotiation tactic that could eventually be reversed\u2014similar to what we saw with Canada and Mexico\u2014or if it signals the start of a prolonged trade conflict, given that China has been a central focus of Trump\u2019s rhetoric,” Jung said.<\/p>\n

Donald Trump’s decision to impose tariffs on imports from Canada, Mexico, and China led to a steep drop in bitcoin and broader equity markets on Monday, turning investors’ focus from Trump’s pro-crypto stance to immediate economic repercussions.<\/p>\n

Monday\u2019s major liquidation event offered a “buy-the-dip” opportunity to traders, as a CoinDesk analysis noted, with the tariff announcements sparking interest in dollar-backed stablecoins as a hedge against economic uncertainty and currency volatility.<\/p>\n

However, the imposition of tariffs could lead to retaliatory measures from affected countries, potentially sparking a broader trade war and leading to further volatility across the crypto market in the days to come.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto majors zoomed as much as 20%, before reversing, in the past 24 hours as a buy-the-dip strategy following Monday\u2019s $2.2 billion turned profitable for risk-takers, although gains were wiped as China announced retaliatory tariffs on the U.S. The bump saw a pull back during the Asian morning hours as the deadline for the U.S. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-11199","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11199"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11199\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}