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U.S. stock markets and cryptocurrencies saw a sharp rebound Thursday after former President Donald Trump announced a temporary 90-day pause on most international tariffs — a move that has been welcomed by investors as a potential turning point for market sentiment.
According to a statement shared by the White House and reposted by Trump on Truth Social, the United States will suspend tariffs for the majority of countries, lowering rates to 10%. The only exception remains China, where tariff rates have been raised to 125%, signaling an aggressive stance amid ongoing trade tensions.
Market Reaction: A Sharp Reversal
Markets responded immediately. U.S. stocks staged one of their largest single-day rallies in recent months, bouncing back from what had been one of the worst weeks of the year. The temporary easing of tariffs appears to have triggered renewed investor optimism, especially following recent volatility driven by trade war concerns and monetary policy uncertainty.
Crypto Market Joins the Rally
The cryptocurrency market mirrored the stock market’s move, with Bitcoin rising to $82,000 and major altcoins following suit. The total global crypto market cap jumped over 8% in the last 24 hours, now standing at $2.59 trillion.
XRP saw one of the most impressive moves, climbing more than 12% to briefly touch $2. The token bounced from a key support level around $1.75 and now faces resistance at $2.14 to $2.15. A confirmed breakout above that range could open the door to further gains, with technical targets around $2.47 and $2.56 in play.
Despite the bullish momentum, there is still uncertainty. On higher time frames, XRP is still technically within a broader bearish trend, and a sustained breakout is required to confirm a full reversal.