XRP, Ethereum Lead Crypto Market Rebound as Trump Reignites Trade War

Altcoins XRP and Ethereumer are leading the cryptocurrency rebound following a mostly red week, as President Trump reignites his global trade war.

XRP and ETH have risen the most among the top 10 cryptocurrencies by market cap, per CoinGecko, climbing 4.5% and 2.7% respectively on the day. It comes as the odds that an XRP ETF will be approved before Litecoin have widened to 64%, according to Myriad Market predictors.

Ethereum is now down just 27% from its all-time high of $4,878.26, according to CoinGecko. As such, users on Myriad Markets believe there to be a 54.4% likelihood that ETH sets a new all-time high this year.

(Disclosure: Myriad is a prediction market developed by Decrypt’s parent company DASTAN.)

Leading the rebound is Ethereum-based stablecoin DeFi protocol Ethena, which has climbed 10.8% over the past 24 hours. Just behind Ethena is layer-1 blockchain Stellar, which has jumped 8.1%, Injective up 5.9%, and Solana meme coin BONK 5%.

Despite the daily green candles, all the aforementioned cryptocurrencies are still in the red over the past week.

On Thursday, President Trump renewed his global trade war by slapping dozens of U.S. trading partners with tariffs. The list of regions impacted includes China, Canada, the European Union, Mexico, and the UK. The new tariffs range from 10% to 41%.

In response the S&P 500 tanked 3.33% from Thursday high into Friday. Bitcoin and Ethereum dropped 2.1% and 3.8%, respectively, with XRP and Solana posting similar losses on the day.

However, as a new week dawns, the crypto market beginning its rebound.

As a whole, the global crypto market cap has risen just shy of 1% on the day, with Bitcoin, BNB, and Solana trading flat. The biggest loser, at the time of writing, is Hyperliquid, which is currently trading 4% than it was this time yesterday.