Crypto Markets Waver as Trump Unleashes 30% Tariffs on EU and Mexico; XRP Outperforms
Date: 2025-07-13
Cryptocurrency markets remained cautious on Saturday after former U.S. President Donald Trump announced a fresh wave of trade tariffs, escalating tensions with two of America’s key partners—Mexico and the European Union.
In letters published on his Truth Social platform, Trump declared a 30% tariff on all imports from the EU and Mexico, effective August 1. Addressing Mexican President Claudia Sheinbaum, Trump stated: “Mexico has been helping me secure the border. BUT, what Mexico has done is not enough.” In a separate letter to EU Commission President Ursula von der Leyen, Trump called the EU’s trade stance "far from reciprocal."
Following the news, Bitcoin (BTC) slipped to around $117,400, marking a 0.6% drop from its earlier European session peak of $118,200. The world’s largest cryptocurrency has struggled to maintain ground above the $118,000 resistance zone since early Friday trading in Asia, signaling investor hesitation amid growing macro uncertainty.
Ether (ETH), the second-largest digital asset, also dipped, trading 1% lower at $2,930. Altcoins mirrored the pullback, with Solana (SOL) and Dogecoin (DOGE) losing over 2%, and BNB down 0.7%.
In contrast, XRP showed unexpected strength, gaining 1.78% despite the broader downturn. The payments-focused token appears to be decoupling from Bitcoin’s short-term trend, a move some analysts attribute to increased utility and institutional interest.
Earlier in the week, Bitcoin surged past the $110K resistance, triggering a wave of optimism in the crypto space. However, Trump’s surprise tariff offensive has since tempered risk appetite.
“Markets are bracing for a choppy weekend,” noted a spokesperson from LondonCryptoClub on X. “But there’s speculation that Asian buyers could step in Sunday night and push BTC through the $120K mark.”
Amid rising global tensions and shifting macro conditions, many traders are diversifying their exposure. Interest in web3 investment tools like staking continues to grow, offering yield opportunities beyond price speculation. Meanwhile, funded trading at crypto prop trading platforms is becoming a go-to strategy for traders looking to navigate turbulent markets.
In addition, user adoption of virtual cards has soared, allowing crypto holders to spend digital assets directly for online purchases or in physical stores, bridging the gap between volatility and real-world use cases.
As geopolitical friction rises, crypto remains at the center of a rapidly evolving financial landscape. Whether Bitcoin breaks higher or continues to consolidate, all eyes are on the weekend trading sessions—and the next move from Trump.
