Behind the XRP, Solana, and Chainlink Roller Coaster

It's been a wild roller coaster for the crypto market over the past 48 hours. On Sunday, values dropped in a short period of time as investors realized U.S. tariffs on goods imported from Canada, Mexico, and China would hit as early as Tuesday. The stock market wasn't open over the weekend, so the selling initially started in crypto.

XRP (CRYPTO: XRP) was one of the hardest hit, falling as much as 33.4% from Friday's close and currently trading down 11.3% over that period of time. But it wasn't the only one, with Solana (CRYPTO: SOL) falling 20.2% at its low and Chainlink (CRYPTO: LINK) down 32.8%, although the two tokens are now down 8.4% and 16%, respectively, from Friday to Monday at 3 p.m. ET.

By Sunday night, tariffs of up to 25% seemed imminent on goods coming into the U.S. from Mexico, Canada, and China. On top of that, retaliatory tariffs seem likely as well, at least from Mexico and Canada.

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Source Fool.com