The cryptocurrency market entered the week with significant volatility, triggered by broader economic tensions. As the U.S.–China trade war intensified, digital assets like Bitcoin (BTC), XRP, and Solana (SOL) felt the impact. On April 7, 2025, Bitcoin prices slipped to $82,900, while major altcoins saw even steeper losses. The equity markets weren’t spared either, creating a synchronized market downturn led by geopolitical uncertainty.
In this article, we’ll explore how the tariff news affected the crypto space, with a focus on XRP and SOL, both of which saw sharp declines. We’ll also analyze technical indicators, market sentiment, and the broader macroeconomic picture.
Bitcoin and Equities Slide on Tariff Shock
Bitcoin’s Price Action
As the U.S. responded to recent Chinese economic policies with new tariffs, market anxiety spiked. Bitcoin, which had shown strong resilience above $84,000 last week, fell sharply to $82,900, down nearly 2% on the day.
Key Levels:
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BTC Opening Price (April 7): $84,500
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BTC Intraday Low: $82,900
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24-Hour Change: –1.95%
Although Bitcoin often behaves as a hedge against traditional markets, the latest dip suggests that even crypto is not immune to macroeconomic fears.
U.S. Stock Market Takes a Hit
The U.S. stock market also experienced a steep drop, with major indices reflecting investor panic:
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S&P 500: Down 1.2%
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Dow Jones Industrial Average: Fell 1.5%
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Nasdaq Composite: Dropped nearly 2.3%
With risk-off sentiment spreading across markets, cryptocurrencies were caught in the crossfire.
XRP and SOL Lead Altcoin Losses
XRP Tumbles Amid Market Uncertainty
XRP, which was recently trading above $2.05, dropped by more than 4.8%, falling to $1.95. This marks a sharp reversal from the bullish momentum seen last week.
XRP Technicals:
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Support Zone: $1.90
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Resistance: $2.10
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RSI: 48 (neutral, trending bearish)
Despite Ripple’s recent positive news surrounding RLUSD and stablecoin integrations, the broader market sentiment overpowered these bullish signals.
Solana Sees Sharp Decline
Solana (SOL), known for its strong DeFi and NFT ecosystem, was another big loser of the day. SOL dropped 6.5%, bringing its price to $168, down from $179 just 24 hours earlier.
Key SOL Levels:
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Resistance: $175
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Support: $165
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MACD: Bearish crossover
Whale movements and declining network volume also contributed to the downward pressure.
Tariff Tensions Fuel Market Uncertainty
The Economic Context
The market turbulence came after China announced a 34% tariff on a wide range of U.S. goods in retaliation for previous U.S. tariffs on Chinese tech imports. The news rattled both equity and crypto markets, as global trade disruptions typically weaken investor confidence.
LSI Keywords:
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U.S.-China trade war
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crypto market dip
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Bitcoin under pressure
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XRP price drop
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Solana crash
Broader Crypto Market Performance
While XRP and SOL led the decline, other altcoins also struggled:
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Ethereum (ETH): Down 2.1% to $3,160
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Avalanche (AVAX): Fell 5.3% to $49
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Cardano (ADA): Dropped 4.6% to $0.71
Only a few stablecoins and small-cap tokens showed resilience, with Tether (USDT) and USDC holding their pegs.
Technical Outlook for Bitcoin and Altcoins
Bitcoin Holding Crucial Support
Despite the fall, Bitcoin still maintains its long-term bullish structure. The $82,500–$83,000 range remains a crucial support zone. A breakdown below this level could expose BTC to a correction toward $80,000.
Altcoin Sentiment Shifts Bearish
For XRP and SOL, analysts are watching closely:
XRP:
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A close below $1.90 could trigger further downside to $1.75
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However, bullish divergence may form on RSI if prices stabilize
SOL:
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Maintaining $165 support is critical
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Trading volumes suggest potential short-term oversold conditions
Analyst Opinions
Market Strategists Weigh In
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Noelle Acheson, Macro Analyst: “The reaction to the tariffs shows how deeply interconnected crypto and traditional finance have become. Risk sentiment is key now.”
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Matthew Hyland, Crypto Trader: “Bitcoin’s drop isn’t surprising, but altcoins like SOL and XRP are taking a harder hit. We could see a relief bounce if equities stabilize.”
Conclusion: Navigating Uncertainty
April 7 was a stark reminder that global macroeconomic events heavily influence the crypto market. With XRP down nearly 5% and SOL falling over 6%, it’s clear that altcoins are more vulnerable to panic-driven sell-offs.
However, Bitcoin’s ability to hold above $82,000 shows underlying strength. For now, investors should stay cautious, watch key support levels, and pay attention to upcoming data like U.S. jobs reports and inflation figures, which could further impact both equity and crypto markets.