Ripple’s XRP & Ether Lead Altcoin Traders’ Drive Following De-escalating US Macro Tensions

Altcoins are swinging uphill alongside Bitcoin (BTC) and traditional assets as traders test new levels not seen in months. Ethereum (ETH) and XRP remain market leaders in terms of market cap and hourly growth data. In the last 24 hours, the ETH price spiked 3%, extending weekly growth above 41%. Analysts opine that this stellar price growth is poised to flag off a new chapter for altcoins.

Institutional Demand Remains Bullish

Ethereum’s institutional demand is soaring above other assets following a sharp price comeback. This recovery spurred similar growth in a slew of altcoins, while the pack followed with mild gains. At press time, Ethereum’s price broke the $2,500 mark after several months of moving past multiple psychological levels.

Institutional demand is the top factor behind this positive trend, as inflows surge. Weekly gains in ETH funds continue to rise, signaling a potential price rebound. Bulls placed a $4 target on the assets this year to trigger an altcoin season. However, heated macro conditions led to a steep decline, wiping billions off the market cap.

The White House sweeping and special tariffs jolted financial markets, although certain whales bought the dip. However, the recent U.S.-China agreement has boosted trader confidence, spiking a new wave of institutional inflows. ETH bulls have now set a $3K short-term price target if recent accumulation continues to institutional funds.

Meanwhile, XRP gained significant traction over the weekend as institutional funds circle in. XRP soared 4% today and 19% over the last seven days. This upward swing has seen the asset’s price reclaim the $2.5 mark. It should be noted that most trades will align towards an altcoin season if the price flips $3.

United States and China Cool Trade Tensions

The world’s two largest economies announced a 90-day pause on most tariffs imposed last month. This eased trade tensions ushering in positive sentiments in financial markets. Per the agreement, Chinese exports to the United States will attract a 30% tariff, a turn from the previous 145% while US goods to China will be levied 10%.

“ The Government of the United States of America (the “United States”) and the Government of the People’s Republic of China (“China”). Recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy, Recognizing the importance of a sustainable, long-term, and mutually beneficial economic and trade relationship…”