The cryptocurrency market continues its lackluster performance. Bitcoin (BTC) still hovers below $98,000. The global crypto market cap has dipped 1.6% in the last 24 hours to $3.3 trillion.
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Cryptocurrencies Continue To Stumble
US President Donald Trump announced tariffs on countries taxing US goods. President Trump also said he’d slap a 25% tax on aluminum and steel. The move may have spooked investors away from risky assets, such as cryptocurrencies.
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US jobs growth slowed more than expected. The development could lead to the Federal Reserve announcing an interest rate cut. A rate cut could boost investor sentiment.
Top 3 Cryptocurrencies To Watch This Week
1. Ripple (XRP)
Ripple’s XRP token continues to trade below $2.50. The cryptocurrency breached the $3 mark earlier this year. The feat was commendable as XRP did not trade above $2 for nearly seven years.
The low prices could be a good entry point for new investors. XRP is expected to rally later this year.
2. Cardano (ADA)
ADA is another cryptocurrency that has had a rough few years. The asset is currently trading at around $0.70.
ADA is one of the most developmentally active crypto projects. The asset’s price could pick up steam in the coming weeks.
3. Dogecoin (DOGE)
DOGE is one cryptocurrency that could rise to new highs this year. The memecoin gained significant traction after President Trump greenlit the creation of the Department Of Government Efficiency (D.O.G.E.) with Elon Musk at its head. Musk is an avid DOGE supporter.
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The asset may make its way into X’s payment platform. The move could boost the memecoin’s adoption and price. Musk is also working on a satellite project funded entirely with DOGE.