Bitcoin recently experienced an 8% correction since its all-time high of nearly $112,000 registered on May 22.
Considering that a tariff-related decision hurt crypto prices, a recent pause on US tariffs directed at select Chinese goods until August 31 might be the cause behind today’s price increase.
The momentum was also reflected in other risk assets, as the S&P 500 is up 0.6% and the Nasdaq is up 0.8%.
Ethereum capitalized on the recent tailwinds and reclaimed the $2,600 zone lost on May 30, following Bitcoin’s movement. At the current price of $2,622.60, ETH is up 89% since its yearly low of $1,385.51, registered on April 9.
While Bitcoin retraced slightly overnight toward $105,000 after peaking at $106,700, Ethereum has held onto its gains. Over the last week, Ethereum has gained 5.5% on Bitcoin.
XRP also shows strong performance among the largest cryptocurrencies by market cap, reaching $2.28 after a 5% daily price leap before retracing alongside Bitcoin to $2.23.
The plan also includes using XRP in payments to remove exchange friction for international trips.
