XRP Faces Major Resistance as Trump's Tariffs Weigh on the Crypto Market – Will XRP Hold $2?
Can XRP Defy the Bearish Pressure and Reclaim $2.50, or Is a 40% Drop Inevitable? | That's TradingNEWS
XRP Price Faces Strong Resistance at $2: What’s Fueling the Bearish Sentiment?
The price of XRP (XRP-USD) has been under significant pressure recently, holding around the crucial $2.05 level despite an initial recovery attempt. On the 1-hour chart, XRP showed signs of a potential rebound from $1.96, but lackluster volume suggests a lack of conviction from buyers. The resistance near $2.05 has proven tough to breach, which is preventing any meaningful upward momentum. This price action has traders wary as XRP struggles to reclaim past highs. Could the XRP price remain range-bound, or will the broader market dynamics push it lower?
The Impact of Trump's Tariffs on XRP's Price Action: Bearish Signals Abound
Trump's tariff announcement has undoubtedly stirred the financial markets, and XRP is no exception. Following the announcement of reciprocal tariffs, XRP's price dropped by approximately 5% in just one day. The US Dollar weakness resulting from escalating trade tensions coupled with the uncertainty surrounding global economic growth has translated into further selling pressure on riskier assets like cryptocurrencies. As a result, XRP tested the $2.00 support, with some analysts predicting a potential fall to $1.21 if it breaks below this key level. How will XRP respond to these broader economic and political challenges?
XRP’s Long-Term Outlook: Is $2 Support Enough to Halt the Decline?
Looking at the 4-hour chart for XRP, the broader trend remains bearish-to-neutral after the recent $2.23 to $1.96 drop. While the $2.00 to $1.90 region has provided some support, bearish market conditions persist, with resistance seen at $2.10 and above. Technical indicators like the MACD and RSI on the daily chart continue to suggest a lack of bullish momentum, with RSI hovering at 38.3, signaling oversold conditions. However, these readings also suggest that XRP could be due for a reversal if the support at $1.90 holds. Will XRP manage to break past resistance at $2.24, or is the bearish pressure too strong?
XRP's Descending Triangle: A Bearish Setup for XRP?
The daily chart shows a worrying descending triangle pattern for XRP, which typically signals further downside if the price breaks below support. This pattern is confirmed by the series of lower highs and flattening support around $2.00. If XRP fails to hold above this level, the price could fall as much as 40% to the $1.21 mark, aligning with historical resistance levels. As XRP continues to face macro-economic headwinds from global market uncertainties and Trump's tariff policy, will it be able to mount a recovery, or is this the beginning of a deeper correction?
XRP Price Prediction: Bearish Momentum Persists Despite Brief Rebounds
Despite attempts to recover, XRP's price continues to struggle at key resistance points. The 200-day EMA at $1.95 offers some hope for bulls, but unless there’s a shift in volume and market sentiment, the $2.50 target seems out of reach in the short-term. With on-chain data showing a decline in active addresses and an increase in XRP's total supply, there are growing concerns about liquidity. As of now, XRP is locked in a battle to maintain support above $2.00, and until a confirmed bullish reversal materializes, the downside risk remains high. Will XRP break free from this bearish grip, or will the market forces push it lower?
