Ethereum and Ripple Tumble 6% and Suffer Weekly losses

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Most cryptocurrencies fell on Friday amid a weakening risk appetite as the global trade war between the US and its economic partners escalated.

 

Earlier government data showed US core personal spending rose 0.4% m/m and 2.8% y/y, beating estimates in both cases.

 

US President Donald Trump announced aggressive 25% tariffs on all imported cars and auto parts earlier this week, and warned the EU and Canada from working together to retaliate against Washington.

 

According to the University of Michigan, the final reading for the March consumer confidence survey stood at 57.00, compared to 57.9 in the previous reading. 

 

Ethereum

 

On trading, ethereum tumbled 6.2% as of 20:23 GMT to $1884.3, with  a weekly loss of 4.60%.

 

Ripple

 

Ripple fell 6.4% as of 20:23 GMT to $2.18, with a weekly loss of 8.7%.


 

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