Bitcoin, XRP, and Dogecoin Rebound After US Temporary Suspension of Tariffs Against Mexico

• Bitcoin surges after Trump suspends tariffs on Mexico.
• XRP and Dogecoin recover with relief in the crypto market.
• Tariffs on China and Canada still create uncertainty.

The cryptocurrency market has seen a significant recovery after US President Donald Trump announced the temporary suspension of 25% tariffs on goods imported from Mexico. The decision came after an agreement with Mexican President Claudia Sheinbaum, who confirmed that she had spoken with Trump to avoid the immediate impact of the sanctions. As part of the deal, Mexico agreed to send 10.000 National Guard troops to reinforce security on the northern border, with the aim of curbing illegal immigration and drug trafficking.

At the time of publication, the price of DOGE was quoted at $0,2727 with a drop of 3.4% in the last 24 hours.

The announcement of the suspension of tariffs came at a time of great volatility in global markets. Over the weekend, Trump had announced the implementation of heavy tariffs on goods from Mexico, Canada and China, which increased the fear of a new trade war capable of affecting the global economy and generating uncertainty among investors. The possibility of an escalation in trade tensions contributed to a mass sell-off in the crypto market, with Bitcoin falling abaixo of US$95.000 and Ethereum suffering an even sharper drop, remaining just above US$2.500.

At the time of publication, the price of XRP was quoted at $2,66 with a drop of 2.4% in the last 24 hours.

However, the reversal of the decision on Mexican tariffs brought immediate relief to the crypto market. Bitcoin saw a rapid appreciation, rising from $92.460 to $99.605 in just one hour, before stabilizing around $99.000. XRP, which had started February above $3, plummeted to $2,01 on Sunday, but quickly recovered after the announcement, rising more than 12% in an hour to reach $2,62. Dogecoin, meanwhile, had hit its lowest value in almost three months at $0,216, rose to over $0,271, demonstrating strong resilience amid the volatility.

While cryptocurrencies are not directly linked to trade policies, the impact of global economic uncertainty is affecting market sentiment, resulting in sharp moves in the prices of digital assets. Fears of rising inflation caused by rising tariffs have also influenced investor behavior, as investors seek to protect their capital in less risky assets. This scenario was evident with the liquidation of approximately $2,4 billion in crypto positions in the last 24 hours, according to data from CoinGlass. However, Bybit CEO Ben Zhou said that this number could be even higher, based on the exchange’s internal records.

Trump said on social media that the United States and Mexico “have agreed to immediately pause the planned tariffs for one month,” while new negotiations will be conducted by high-ranking representatives of the American government. Despite the temporary relief, tariffs on products from Canada and China are still scheduled to go into effect soon, maintaining the climate of uncertainty in the financial markets and, consequently, in the cryptocurrency universe.