Bitcoin, XRP Price Recover. Why Trump Is Failing to Boost Cryptos.

By Elsa OhlenBitcoin, XRP and other cryptocurrencies regained some ground early Tuesday, even as broader market jitters around President Donald Trump's tariffs weighed on market sentiment.Bitcoin is up 2.6% to $84,089 over the last 24 hours, according to CoinDesk data. It's recovering slightly from a downward trend in the past four days.Smaller digital currencies have followed a similar pattern. XRP, the crypto used to facilitate and settle transactions on Ripple Labs' digital payment platform, is up 5.2% to $2.18 while Ethereum gained 4.9% and traded at $1,883 early Tuesday.Despite Tuesday's early gains, most cryptos are down substantially since Trump took office.Hopes that the president would boost digital coins led them to soar in late 2024 and early 2025. However, that enthusiasm has ebbed since. Bitcoin is down about 25% since hitting a record high of nearly $110,000 on Trump's inauguration day, Jan. 20.Fears of a souring economic climate, worsened by an escalating trade war, has weighed on the stock market. Assets seen as risky investments, such as cryptos, have been particularly hard hit while safe-haven asset gold just posted its best quarter since 1986.Write to Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.