XRP, ADA, SOL Erase Trump ‘Crypto Reserve’ Gains As US Tariffs Spark Sell-Off – Retail Enthusiasm Fades

Cryptocurrencies Cardano (ADA), Solana (SOL), and XRP slid during U.S. pre-market hours on Tuesday, erasing gains from President Trump’s announcement of a ‘crypto strategic reserve,’ as new U.S. tariffs on China, Mexico, and Canada took effect.

Cardano shed over 16%, trading around $0.80, while Solana fell 15% to $136, according to CoinGecko data. XRP dipped 10% to approximately $2.40.

Bitcoin fell 9% over the past 24 hours, trading below $84,000 as macroeconomic uncertainty rattled markets.

All three altcoins initially surged after Trump announced plans to include them in the ‘crypto strategic reserve’ alongside Bitcoin and Ethereum, but those gains have been erased amid fresh macroeconomic uncertainty.

Trump reaffirmed that 25% tariffs on Canadian and Mexican imports would take effect at midnight as Tuesday began, citing concerns over synthetic drug trafficking and illegal immigration. 

Canada and China swiftly announced retaliatory measures. Prime Minister Justin Trudeau condemned the move as "unjustified" and imposed counter-tariffs on $125 billion worth of U.S. goods, targeting autos, steel, and aluminum. 

Mexican President Claudia Sheinbaum took a more cautious approach, saying the country would wait to see whether Trump followed through before unveiling a full response.

China, meanwhile, imposed 15% tariffs on U.S. agricultural imports, including chicken, wheat, corn, and cotton, and added a 10% levy on other products such as soybeans, pork, and dairy. Beijing also restricted 25 U.S. firms from trade and investment.

Retail sentiment on Stocktwits around Ripple's native token cooled, moving from the ‘bullish’ zone to ‘neutral’ territory accompanied by ‘high’ levels of chatter.  

One trader advised using the volatility to make strategic bets, arguing that “money has no feelings.”

Despite the pullback, XRP's price remains up 269% for the year.

Retail sentiment on Stocktwits around the Solana token also fell to ‘neutral’ territory. One user quipped that they did not expect Trump to be worse for the crypto market than Biden.

The drop has brought Solana’s gains to just 4.3% for the year. 

Retail sentiment around Cardano’s token, while lower, remains in the ‘bullish’ zone with ‘extremely high’ chatter. 

Some investors believe prices will rebound once the Trump administration formally starts accumulating cryptocurrencies for the reserve.

Like Solana, Cardano only has gains of 5% for the year. 

Some traders noted that the U.S. government might be deliberately driving down crypto prices to accumulate assets at a discount.

With a White House Crypto Summit scheduled for Friday, investors are bracing for more policy developments that could stabilize or further roil the market.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Read also: Sui, XRP Shine Even As Crypto Investment Funds See Record $2.9B Outflows – Retail Sentiment Rebounds

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