Major cryptocurrencies saw moderate losses on Friday, with the exception of XRP, as President Donald Trump unveiled new tariffs on imports from Mexico and the European Union (EU).

Trump announced a 30% levy on goods from both trading partners, set to take effect on August 1, according to letters he shared on his Truth Social platform.

“Mexico has been helping me secure the border. BUT, what Mexico has done, is not enough,” Trump wrote in a letter addressed to Mexican President Claudia Sheinbaum. In a separate note to European Commission President Ursula von der Leyen, he described the relationship with the EU as far from reciprocal.

Earlier this week, Trump also imposed tariffs on several other nations—including South Korea, Japan, Canada, and Brazil—as well as a 50% tariff on copper, which sparked volatility in the red metal’s markets.

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, traded near $117,400 following Trump’s announcement, down 0.6% from its European session peak of $118,200. Despite multiple attempts since early Friday’s Asian trading hours, BTC has struggled to establish firm support above $118,000, according to CoinDesk data.

Ether (ETH), the second-largest crypto asset, slipped 1% on the day (UTC), changing hands at around $2,930 after forming an indecisive doji candle on Friday. Solana’s SOL and Dogecoin (DOGE) were each down over 2%, while BNB dropped 0.7%. Meanwhile, XRP, focused on payments and cross-border transactions, held steady, registering a 1.78% gain at the time of writing.

The softer tone in the market followed a strong midweek surge, during which BTC soared past the long-standing resistance at $110,000, sparking fresh risk appetite across crypto markets. However, some traders expect choppy price action to persist into the weekend.

“Expectations this weekend are we chop around in tight range today. Then Asia comes in late on Sunday evening and buys ALL the Bitcoin, and we break through $120k,” the founders of newsletter service LondonCryptoClub posted on X.