President Donald Trump plans to impose 25% tariffs on all steel and aluminum imports from Monday. Cryptos have previously fallen on tariff announcements.

Cryptocurrency prices took a hit from the prospect of a trade war between the U.S. and its major trading partners, with some well-known digital assets seeing values fall more than 10%.

“A tidal wave of fear, uncertainty and doubt (FUD) has been unleashed across the cryptocurrency market after U.S. president Donald Trump’s Friday tariff announcement,” Petr Kozyakov, chief executive crypto payment platform Mercuryo, said in emailed comments.

January consumer price data could help set the tone for the Federal Reserve, which will have a knock-on effect on crypto prices.

XRP has dropped 2.36% in the last 24 hours, trading at $2.43 as market participants digest former US President Donald Trump’s sweeping tariff announcements. The digital asset’s decline aligns with broader market volatility following Trump’s renewed protectionist stance,