Bitcoin (BTC) and XRP (XRP) Have Been Able to Avoid the Worst of the Declines

Bitcoin (CRYPTO: BTC) and XRP (CRYPTO: XRP), have been able to avoid the worst of the declines in response to President Donald Trump's new tariffs.

President Donald Trump's new tariffs have sparked fear in the markets.

But some investments have been able to avoid the worst of the declines.

Among the large-cap cryptocurrencies, Bitcoin and XRP have managed to avoid the worst of the bear market in response to President Donald Trump's new tariffs. Both cryptocurrencies are still down in 2023, but they're not nearly in the same ballpark as some of their peers.

Image Source: Bankrate

Both Bitcoin and XRP have been battered throughout the 2024 bear market. But they've still managed to outperform the S&P 500, which is down more than 20% in 2023. They've also fared better than many other large-cap cryptocurrencies.

Ethereum, Solana, Cardano, Sui, and Avalanche have all been slammed this year. They still boast market caps of $9 billion or higher and rank among the top 15 cryptocurrencies in the world. But it's clear that many investors aren't in the mood to touch them.

Solana and Cardano are both down a disappointing 20% on the year. But Ethereum is down a whopping 46%. The investor sentiment around Ethereum is deeply negative, and the gap between Ethereum and its closest rivals appears to be narrowing.

World Liberty Financial, the crypto company that's affiliated with the Trump family, has made Ethereum a high-profile holding.

Dogecoin, the top meme coin by market cap, is down 45% this year. Shiba Inu, the second-largest meme coin, is down 37%. Pepe, the third-largest meme coin, is down 53%. And the Official Trump meme coin (which trades under the ticker TRUMP), the fourth-largest meme coin, is down a staggering 84% since its debut earlier this year.