XRP Surges as Bessent Signals Trade Deals Before Tariff Deadline

XRP saw a notable increase on Sunday morning, riding a broader wave of optimism in the crypto market amid hints of imminent trade agreements before a looming U.S. tariff deadline. Investors responded strongly to comments from U.S. Treasury Secretary Scott Bessent, who suggested on CNN that multiple trade deals are close and may be finalized before the July 9 Liberation Day tariff deadline.

According to CoinDesk, payments-oriented token XRP rose more than 2%, with Dogecoin posting a 3% gain and Solana’s SOL also up 2% on Sunday morning. Bitcoin briefly surpassed $109,000, marking a 1% increase, while Ethereum’s ether improved by 1.5%, trading at $2,550.

In his televised interview, Bessent stated that several trade negotiations were nearing completion and could be publicized within days. These prospects arrive just ahead of the July 9 expiry of the temporary reprieve granted to trading partners from increased tariffs initially announced by the Trump administration on April 2.

“President Trump will be sending formal communications to some trade partners saying that unless progress is made quickly, the tariff levels will revert to the steep rates announced on April 2 by August 1,” Bessent warned, according to Reuters. His comments sparked renewed market confidence, contributing to positive sentiment across both crypto and traditional financial sectors.

The July 9 deadline plays a pivotal role in current negotiations. If new deals are not sealed by then, enhanced tariffs will be implemented starting August 1. Bessent emphasized that while the U.S. remains open to fair agreements, delays from some nations are slowing progress. “We’re firm about the date. If countries want to avoid harsher tariffs, it’s up to them to act. If not, they will revert to the older, higher rates,” he told CNN.

Since returning to office, President Donald Trump has aggressively pursued a revamped trade policy focused on what he calls building American wealth. His administration’s April 2 announcement outlined a sweeping slate of tariff increases, beginning at a flat 10% for all trade partners, with elevated rates—some reaching up to 50%—imposed on specific nations. These surprise measures rattled global markets, causing a sharp stock sell-off and dragging bitcoin down to $75,000 in early April.

In response to the market turmoil, the Trump administration declared a temporary 90-day pause just a week after the initial announcement. This move seemingly restored investor confidence and stabilized markets, enabling recovery in both equities and digital assets like XRP.

Since then, market sentiment around U.S. economic dominance has improved significantly. As observed in recent macro analysis, the concept of “U.S. exceptionalism” is gaining traction once again. Key indices like the S&P 500 and Nasdaq have outpaced global counterparts, and bitcoin has rallied back above the $100,000 mark—a sign of returning confidence in risk assets.

XRP’s resurgence fits within this broader context of renewed optimism. As a digital asset tied closely to cross-border finance and payments, XRP responds positively to indications of simplified trade landscapes. Market watchers believe the clarity surrounding tariffs could encourage more global settlement activity, a factor that benefits tokens like XRP.

Related: Expert Advice: Sell XRP If You’re Confused

With just days left before the July 9 deadline, investors are watching for any formal trade announcements. Should deals be finalized swiftly as Bessent hinted, XRP and other major cryptocurrencies could continue benefiting from the renewed bullish momentum driven by policy clarity and economic optimism.