#TrumpVsMusk Trump vs Musk Fallout Reaches the Crypto Market

Notably, the Trump family has long supported Bitcoin while showing little interest in$XRP $XRP Until recently, Musk and Trump maintained a cordial relationship. However, that changed dramatically this week after Musk publicly criticized Trump’s spending bill in a June 4 post, warning of serious economic risks.

Trump fired back, threatening to revoke Musk’s government contracts and subsidies. In response, Tesla’s stock plummeted, erasing $150 billion in market value.

The crypto market followed suit. Bitcoin tumbled over 6% to a low of $100,400 before a modest recovery to $102,000 at press time. $XRP also suffered losses, though Dalton and others believe this situation could present a long-term opportunity for XRP.