Bitcoin Surges 12% as Trump Trade Talks Ease and ETF Approval Looms

XRP Price Gains 13% After Trump's 90-Day Tariff Pause and XXRP ETF Launch

The price of XRP, the third-largest cryptocurrency by market capitalization, surged 13% in the wake of two significant developments: President Donald Trump's 90-day tariff pause and the launch of the first XRP-based exchange-traded fund (ETF).

On Wednesday, Trump announced a 90-day pause on tariffs on $200 billion worth of Chinese goods, sparking a rally in global markets. The news sent a positive signal to investors, who had been worried about the escalating trade tensions between the United States and China.

Meanwhile, the launch of the XXRP ETF, which tracks the price of XRP, added fuel to the fire. The ETF, which is listed on the New York Stock Exchange (NYSE), marks the first time a cryptocurrency-based fund has been listed on a major US exchange.

The combination of these two developments sent XRP's price soaring to $0.43, its highest level in over a month. The cryptocurrency's market capitalization also surged, reaching $17.4 billion.

Analysts attributed the price surge to the increased institutional interest in XRP, driven by the launch of the ETF. "The XXRP ETF is a game-changer for XRP," said market analyst Spencer Dooley. "It provides a new way for institutional investors to gain exposure to the cryptocurrency, which could lead to a significant increase in demand."

The tariff pause also played a role in the price surge, as investors became more optimistic about the prospects for a trade deal between the United States and China. "The tariff pause is a positive sign that the two countries are making progress on a trade deal," said economist Joseph LaVorgna. "This could lead to a boost in global economic growth, which would be positive for XRP and other risk assets."

The price surge has also sparked speculation about the potential for XRP to break out of its recent trading range and make a move towards $0.50 or higher. "The technicals look very bullish for XRP," said trader Michael Novogratz. "If the price can break above $0.45, we could see a significant move higher."

Overall, the price surge in XRP is a sign of growing institutional interest in the cryptocurrency and a positive outlook for its potential to make significant gains in the coming months.