Ripple: Trump’s Tariffs Squeeze XRP Soul
XRP struggled at the start of the new month as markets braced for an escalating trade war fueled by new tariffs
Live XRP/USD Chart
XRP struggled at the start of the new month as markets braced for an escalating trade war fueled by new tariffs from President Donald Trump to take effect this week.
The cryptocurrency used to settle and facilitate transactions on Ripple Labs’ payment platform had fallen 3.7% to $ 2.10 over the previous 24 hours
XRP has undergone a significant downturn in recent price activity, with its value decreasing 15% over the past seven days as bears maintain their grip on the market. The coin’s technical indicators present mixed signals; while the RSI has rebounded from oversold territory, Ichimoku Cloud patterns continue to depict a predominantly bearish outlook.
Despite yesterday’s test of the critical $2.05 support level, which pushed in a brief bounce, the momentum remains negative, with short-term EMAs below long-term averages.
The shift from extreme oversold conditions indicates that XRP may be in a consolidation phase before its next major price movement
XRP’s market performance and the lack of positive sentiment following the announcement of the Securities and Exchange Commission (SEC) suing Ripple Labs tell a compelling story.
While the revelation initially triggered a small rally, various factors soon influenced that price action, causing the token to dip below its original level. This scenario illustrates that external forces affecting the crypto market are significantly more pronounced than any singular development in the industry, which appears to be true as of March 31st.
Moreover, XRP is losing its cultural relevance due to its recent performance.
Previously, it was an emblem of the digital assets industry’s defiance against perceived excessive regulatory activity and responded more favorably to positive news. Furthermore, the contrasting price actions following ex-SEC Chair Gary Gensler’s departure and his resignation highlight a gap between unreciprocated expectations and reality at the end of Q1 2025 for the cryptocurrency market
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