Trump Endorses Crypto as “Much Stronger” Than US Stock Market

The crypto market has received yet another endorsement, this time from US President Donald Trump, who has declared it to be “much stronger” than the US stock market.

The president’s remarks come after the S&P 500 index shed more than $5 trillion during the first week of April alone as investors reacted to the US-China tariff war.

While the crypto market also shed some value, the losses were smaller, with Bitcoin (BTC) falling by around 15% between April 2 and April 7. Altcoins also registered minute losses compared to US stocks, with the total market cap shedding around $400 million of its value during the same period.

Besides its resilience, Trump further added that he was endorsing the industry because millions of people are interested in crypto assets.

“I think crypto is important because if we don’t do it, China is going to. And it’s new, it’s very popular, it’s very hot. I want crypto because a lot of people – millions of people – want it.”

This statement comes after a recent survey revealed that 73% of US digital asset investors believe that it is important for the US to emerge as a crypto leader, which could become possible with Trump’s pro-crypto approach, hence the surging demand for top crypto coins to buy.

Altcoins to Buy Today As Trump Endorses Crypto

Some of the top altcoins that crypto investors can consider to buy today, following Trump’s recent endorsement, include Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE). These are some of the top altcoins by crypto market ranking and have solid fundamentals and a bullish technical outlook that may support a rally.

Ethereum (ETH)

There are multiple reasons that a crypto trader should consider to buy the largest altcoin, Ethereum, including the upcoming Pectra upgrade and surging inflows to ETH products. This network upgrade will happen on May 7, with its releases coinciding with $149M inflows to Ethereum per a recent Coinshares report.

The rising demand and the potential surge in bullish sentiment that follows major blockchain upgrades suggest a bullish Ethereum price prediction as the altcoin eyes notable gains this week, making it a good choice for investors.

Ripple (XRP)

One of the altcoins to buy that is bound to make notable gains following Trump’s recent endorsement of the crypto industry is Ripple (XRP). XRP stands out as the biggest USA coin that is poised to benefit heavily from a pro-crypto regulatory framework.

Moreover, technical analysis shows that the Ripple price is at a pivotal point that may precede an uptrend to $2.59 if it overcomes resistance at the upper trendline of a falling wedge pattern. Coingape also reported that XRP may hit $12 amid a bullish formation in the Elliott Wave pattern.

Dogecoin (DOGE)

Dogecoin is also one of the top altcoins to buy this week as DOGE eyes a $0.40 breakout before the month ends. The meme coin has also seen a spike in the volume of long trades, with 70% of traders on Binance opening long positions. This indicates a bullish bias as most futures traders anticipate an upward price recovery.

Summary on Top Altcoins to Buy

President Trump’s recent statement about the crypto market being “much stronger” than the US stock market, with a $52 trillion valuation, has fuelled demand for altcoins. Some of the top altcoins to buy amid this development include Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE).

Frequently Asked Questions (FAQs)

1. What are the top altcoins to buy?

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3. Will Ethereum price rally this week?