XRP Price News: XRP Prices Fall By 3% & Showing No Signs Of Change.

At this point, it is evident that the crypto community has hit a rough patch. The looming cloud of a trade war has truly put everyone on edge. As a result, a mass liquidation event last week saw a total liquidation of around 10 billion US dollars. This has saturated the market with tokens, which affected the price greatly. As a result,  almost all coins have taken some hit. One such coin is XRP. Things are not looking great. 

XRP is under some pressure as the coin has taken some unprecedented hits due to the current macroeconomic landscape. Back in the middle of January, XRP recorded a price of $3.3999. However, there were some swift changes in the leadership as Trump emerged. Trump appointed a new chief of SEC, Mark Uyeda. 

Uyeda came into power and released an official statement claiming, “The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm. President Trump and the American electorate have sent a clear message. Starting in 2025, the SEC’s role is to carry out that mandate.” As a result, investors were optimistic about the shift. 

The Hit 

Things looked good for XRP, but it took a major hit due to Trump’s decision to impose extra tariffs on Canada, China, and Mexico. As a result, there were some major storms in the crypto landscape. Soon, every token started falling, resulting in a cascading effect that led to a total liquidation of 10 billion US dollars.  

As a result, the market was saturated with digital assets, and the prices fell. XRP was subjected to a similar fate as well. XRP was quiet over the weekend with no major breakout scope. However, analysts believe that the token is showing signs of corrective steps, even though the larger market is still volatile.  

At the time of writing, the price of XRP stands at $2.39 with a narrow support range. The intraday for XRP is oscillating between $2.32 and $2.50. To recover and reach the $3 mark, XRP must break through two resistance levels at $2.51 (50% retracement area) and $2.72 (88.7% retracement area).  

Currently, XRP is depicting a bearish move with very little scope of stability. Hence, the best way to act is to see if the coin breaks through the retracement area to reach the $3 mark. Follow for more crypto news.