The post XRP, SOL prices tank as over $2b wiped from crypto market after tariffs announced by Trump appeared on BitcoinEthereumNews.com.

The crypto market has plunged into the fear zone of the crypto fear and greed index, sliding to sentiment levels last seen in October 2024. A mix of fresh U.S. tariffs, weak liquidity, and panic selling wiped over $2 billion from the market in the last 24 hours, according to data from Coinglass. Amid the chaos, Bitcoin (BTC) price dropped nearly 6% to around $91,200 before bouncing back slightly, but altcoins took an even harder hit. Liquidation heatmap after President Donald Trump announced tariffs | Source: Coinglass Ethereum (ETH) tanked 18%, XRP (XRP) was the biggest loser with a 20% drop, and Solana (SOL) fell 8% as the total market cap sank nearly 12% to $3.15 trillion. Sell-off: another typical weak Monday driven by low liquidity and CTAs chasing – Asia market these days can’t take any negative news nor apply independent thinking. The tariffs won’t lead to much productivity shock or inflation shock for the U.S. – market will recover soon. — Daniel Yan (@_D_Y_A_N) February 3, 2025 Matrixport co-founder Daniel Yan called it “another typical weak Monday,” blaming Asia markets for their knee-jerk reaction to bad news. He highlighted extreme volatility, with Coinbase’s ETH premium — a sign of strong U.S. buying demand — spiking to 6% while the top 100 tokens averaged a 22% loss. At the moment, it does look as though #xrp entered an expanded flat wave 4 correction in December last year. The loss of the green line increased the correction to come into play. It wasn’t my primary expectation, but it is what it is, we have to respect price structure over… pic.twitter.com/OphZDt4bnA — CoinsKid (@Coins_Kid) February 3, 2025 An X user under alias @Coins_Kid noted in an X post on Feb. 3 that XRP’s price structure suggests an “expanded flat wave 4…

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Filed under: News - @ February 3, 2025 7:20 am