4th August 2025 – (New York) Altcoins XRP and Ethereum are spearheading the cryptocurrency market’s recovery after a tumultuous week marked by red candles, coinciding with renewed global trade tensions triggered by President Trump.
According to CoinGecko data, XRP and ETH have surged the most among the top 10 cryptocurrencies by market cap, rising by 4.5% and 2.7% respectively. The likelihood of an XRP ETF approval surpassing Litecoin has surged to 64%, as indicated by Myriad Market prognosticators.
Ethereum is now only down 27% from its record high of $4,878.26, fueling speculation on Myriad Markets with a 54.4% chance that ETH might reach a new all-time high this year.
In an impressive rebound, Ethereum-backed stablecoin DeFi protocol Ethena has surged by 10.8% in the last 24 hours. Following closely are layer-1 blockchain Stellar with an 8.1% jump, Injective up by 5.9%, and Solana meme coin BONK by 5%.
Despite the recent upward movements, all mentioned cryptocurrencies remain in the red over the past week.
Amid President Trump’s global trade war resurgence, impacting trading partners like China, Canada, the EU, Mexico, and the UK with tariffs ranging from 10% to 41%, the S&P 500 plummeted by 3.33% from Thursday’s high. Bitcoin and Ethereum faced declines of 2.1% and 3.8% respectively, while XRP and Solana mirrored similar losses.
As a new week begins, the crypto market shows signs of recovery, with the global market cap edging up nearly 1% on the day, as Bitcoin, BNB, and Solana trade flat. Conversely, Hyperliquid stands as the biggest loser, down 4% from its previous day’s trading value. XRP advocate Diep Sanh suggests that the growth of XRP is inadvertently fuelled by Bitcoin maximalists, turning criticism into an unexpected boon for the cryptocurrency.
