Dogecoin rises by 7% – Bitcoin and XRP benefit from hopes of trade war easing
While the US-China trade dispute intensifies, current developments in the crypto market are more reassuring. There is again movement in the altcoin market.
Dogecoin (DOGE) is currently one of the altcoins that have seen a significant price increase. The so-called meme coin, which is often used for tip services, jumped by more than 7% within a day, apparently driven by positive market sentiment.
But not only Dogecoin is benefiting from the recent developments. Bitcoin (BTC) and XRP also saw price increases. Bitcoin saw a price increase of about 1%, while XRP rose by about 1.5%.
Investment experts suspect that these gains are the result of hopes for an easing of the trade war between the US and China. Both countries have signaled their willingness to engage in serious negotiations to defuse the conflict, which has spread uncertainty in global financial markets over the past few months.
The optimism was additionally fueled by media reports suggesting that both sides have reached some compromises in the preliminary negotiations. It is still unclear how sustainable these hopes are and whether the tensions between the governments of the two largest economies in the world can actually be reduced in the near future.
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