By Elsa Ohlen

Bitcoin, XRP and other cryptocurrencies climbed off their recent lows early Friday, even as U.S. stock futures continued to drop. Yet, the future for digital assets is looking uncertain.

The largest cryptocurrency Bitcoin traded modestly up early Friday, rising 0.9% to $84,445 over the last 24 hours, according to CoinDesk data. XRP, the digital coin used to facilitate and settle payments on Ripple's payment platform, rose 2.2% to $2.09.

Meanwhile, futures tracking the S&P 500 were down about 0.5%, after the benchmark index plunged 4.8% Thursday.

Bitcoin dropped below $82,000 Thursday, amid a sharp decline in stocks. The three main indexes had their worst day in five years after President Donald Trump announced higher-than-expected reciprocal tariffs on countries all over the world.

"Retaliatory tariffs, potential provocations and verbal interventions will be an excellent basis for increasing volatility in the cryptocurrency market," Tracy Jin, COO of crypto exchange MEXC, said.

A slowdown in the U.S. economy due to tariffs could also push the Federal Reserve to resume the interest rate cutting cycle, which, combined with the fall in Treasury yields and the weakening dollar, has a restraining effect on cryptocurrency and indexes, Jin added.

Bitcoin may end April in the $76,000 -- $78,000 range, with a potential drop to $52,000 -- $56,000 during the summer, according to Jin.

Among other cryptos, Ether traded flat at $1,815 and Solana slid 1% to $118. Memecoin Dogecoin gained 0.7%.

Write to Elsa Ohlen at elsa.ohlen@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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April 04, 2025 05:45 ET (09:45 GMT)

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