Ripple's price rose on Friday amid strong demand for cryptocurrencies and as Bitcoin reached new record highs.

U.S. President Donald Trump announced today a 35% tariff on Canada and threatened to raise tariffs on other countries as well.

In a post on Truth Social yesterday, Trump said the tariffs on Canada were a response to its failure to help stop the flow of fentanyl into the United States, warning that he would increase them further if Canada retaliates.

In an interview with NBC, Trump also said he intends to impose broad tariffs ranging from 15% to 20% on other countries — higher than the current 10% rate that investors have become accustomed to.

Brazilian President Luiz Inácio Lula da Silva said he is seeking a diplomatic solution to the tariff dispute with the United States but pledged to respond in kind if the tariffs are implemented on August 1.

Bitcoin

The world’s largest cryptocurrency surged past $118,000 for the first time in history, after trading below $80,000 as recently as April.

The broader crypto market also posted strong gains, with Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) each rising more than 7%.

This new record pushed Bitcoin’s market capitalization above $2.3 trillion, surpassing tech giants like Google (Alphabet) and Meta, and even overtaking silver, though it still remains a fraction of gold’s estimated $22 trillion market cap.

This extraordinary rally began after President Trump declared "Liberation Day" on April 2, disrupting traditional markets and pushing both retail and institutional investors toward alternative assets like Bitcoin as a hedge against major economic uncertainty.

Gadi Chait, Chief Investment Officer at Xapo Bank, told The Independent: “Bitcoin shattered all expectations, shifting from a calm trading range to a full sprint that culminated in a new record.”

He added, “Behind the scenes, institutions are frantically accumulating Bitcoin. What’s remarkable is that this institutional inflow has continued despite the extreme global economic uncertainty — a test that many so-called ‘volatile’ assets have failed.”

The latest surge has fueled strong bullish sentiment. A recent Finder survey of 22 experts showed an average year-end 2025 price prediction for Bitcoin of $145,167.

To reach that level, the price would need to rise another $27,000 in the second half of the year, after climbing roughly $25,000 in the first half.

Kadan Stadelmann, Chief Technology Officer at Komodo and one of the survey participants, said, “We still have at least six months left in this bull cycle. If historical trends hold, I expect the peak in Q1 2026, followed by a bear market.”

Ripple

As for trading, Ripple’s price jumped 13.9% to $2.84 at 20:58 GMT on CoinMarketCap. The cryptocurrency has surged 28.8% over the past seven days, pushing its market cap to approximately $168 billion, making it the third-largest crypto after Bitcoin and Ethereum.

The Canadian dollar fell against most major currencies on Friday following decisions that signaled an escalation in the trade war between the United States and Canada.

U.S. President Donald Trump announced today the imposition of a 35% tariff on Canadian imports and threatened to raise tariffs on other countries as well.

In a post on Truth Social yesterday, Trump said the tariffs on Canada were a response to its failure to cooperate in stopping the flow of fentanyl into the United States, warning that he would raise them further if Canada retaliated.

Government data released today showed that the Canadian economy added 83.1 thousand jobs in June, far exceeding analysts’ expectations of only 0.9 thousand. The unemployment rate fell to 6.9% last month from 7.0% in May, while analysts had expected it to rise to 7.1%.

In trading, the Canadian dollar declined against its U.S. counterpart by 0.2% to 0.7308 at 20:53 GMT.

Australian Dollar

The Australian dollar also dropped against the U.S. dollar by 0.2% to 0.6577 at 20:53 GMT.

U.S. Dollar

The U.S. dollar index rose by 0.2% to 97.8 points at 20:29 GMT, after hitting a high of 97.9 and a low of 97.5.

In an interview with NBC, Trump said he intends to impose broad-based tariffs ranging between 15% and 20% on other countries — a rate higher than the current 10% level investors have become accustomed to in recent months.

Brazilian President Luiz Inácio Lula da Silva said he is seeking a diplomatic resolution to the tariff dispute with the United States but pledged to respond in kind if the tariffs are enacted on August 1.

Argentina’s massive shale gas reserves form the foundation for building export capacity through pipelines and LNG terminals — a transformation that could position the second-largest economy in South America as both a regional and global gas powerhouse.

The country holds the necessary resource base, notably the vast unconventional reserves in the Vaca Muerta shale formation in Neuquén Province. However, it must develop the infrastructure to transport gas from production zones to regional pipelines and planned export terminals. Additionally, Argentina must continue the market reforms initiated by business-friendly President Javier Milei to attract foreign investment and move past decades of economic instability and investor skepticism.

As it strives to become an LNG exporter, Argentina will face stiff competition from leading global LNG suppliers who enjoy lower production costs.

According to the latest report by Wood Mackenzie on Argentina’s gas and power markets, the country’s natural gas production could peak at 180 million cubic meters per day (Mmcd) by 2040 in a base-case scenario — potentially rising to 270 Mmcd if all planned LNG export projects are realized.

The unconventional gas fields of Vaca Muerta are central to this significant supply growth.

Javier Toro, Director of Research at Wood Mackenzie, stated: “With Bolivia’s exports expected to cease by the end of this decade, Argentina is strategically positioned to become the region’s leading supplier. At the same time, it has a real opportunity to establish itself as a reliable global LNG exporter.”

Vaca Muerta shale output surges

Oil and gas production from Vaca Muerta has seen a sharp rise in recent months, and Argentina is preparing for the next phase of this resource boom: exports.

Vaca Muerta — Spanish for “dead cow” — is often referred to as “Argentina’s Permian,” though geologically it more closely resembles the Eagle Ford formation in the U.S. The basin is estimated to contain 16 billion barrels of oil and 308 trillion cubic feet of recoverable natural gas, making it the second-largest shale gas reserve in the world and the fourth-largest for shale oil.

In Q1 2025, oil output from Vaca Muerta rose 26% year-on-year, while gas production increased 16%, according to Rystad Energy estimates.

Gas export prospects

Argentina is already connected by pipelines to Chile, Uruguay, and Bolivia. Recently, the flow through the Northern Pipeline was reversed, enabling gas exports to Brazil via Bolivia’s existing infrastructure.

Wood Mackenzie sees potential for Argentina to boost pipeline exports by extending the connection from Uruguaiana to Porto Alegre and linking it to Brazil’s integrated transportation system.

Argentina is also advancing several LNG export initiatives. State energy company YPF has signed agreements with Shell and Eni to co-develop the “Argentina LNG” project. This includes gas production from Vaca Muerta blocks, a 580-kilometer pipeline, and a processing and liquefaction facility in Sierra Grande, Río Negro Province, on the Atlantic coast.

The country has already reached a final investment decision (FID) for a floating liquefaction unit with a capacity of up to 2.5 million tonnes per year. It is also considering a second 3.5 million-tonne unit under the “Southern Energy” alliance, which includes Pan American Energy, Pampa, Harbour Energy, YPF, and Golar.

If all proposed projects are completed, Argentina could export 28 million tonnes of LNG per year by 2035, according to Wood Mackenzie.

Infrastructure and cost challenges

Despite its vast reserves and early commitments from global firms, Argentina’s LNG export future remains uncertain. The country needs multibillion-dollar investments in midstream infrastructure to move gas from fields to export terminals.

Wood Mackenzie notes: “To develop LNG projects, Argentina needs dedicated pipelines to liquefaction plants and significant upstream capacity.”

Interest in Vaca Muerta has surged since Javier Milei took office a year and a half ago, but he also halted state financing for infrastructure like pipelines, meaning companies must rely on private capital and incentives such as tax breaks under the new free-market model.

The government estimates that market liberalization efforts will raise energy sector investments to around $15 billion in 2025, up $2.5 billion from previous forecasts.

The recently passed RIGI law (Regime of Incentives for Major Investments) has further drawn investor attention, offering tax exemptions and regulatory facilitation for large-scale projects.

Global energy companies are once again exploring mergers and acquisitions (M\&A) opportunities in Argentina after years of market hesitation.

Still, cost competitiveness in the global LNG market remains a critical factor in determining Argentina’s actual export capacity.

U.S. stock indices declined during Friday trading as the global trade war between the United States and several other nations intensified.

President Donald Trump announced a new 35% tariff on Canada and also threatened to raise tariffs on other countries.

In a post on Truth Social yesterday, Trump said the tariffs on Canada were a response to its failure to cooperate in halting the flow of fentanyl into the United States. He warned that the tariffs could rise further if Canada retaliates.

Trump also told NBC that he plans to impose sweeping tariffs of 15% to 20% on other countries — a rate higher than the current 10% that investors have grown accustomed to in recent months.

Brazilian President Luiz Inácio Lula da Silva said he is seeking a diplomatic resolution to the tariff dispute with the U.S., but pledged to respond in kind if the tariffs are implemented on August 1.

On the trading front, the Dow Jones Industrial Average fell by 0.7% (equivalent to 330 points) to 44,320 points by 16:27 GMT, while the broader S&P 500 index dropped by 0.4% (equivalent to 28 points) to 6,252 points, and the Nasdaq Composite index declined by 0.2% (equivalent to 44 points) to 20,586 points.