This week, Ripple (XRP) coin fumbled this week in a similar way to the broader crypto market with Bitcoin (BTC) backtracking at $108K on Friday morning, dropping to Ethereum’s 3.8K. Now, resilience is undergoing another test. A quick $3 recovery earlier this week shook investors’ trust.
Is a $2 XRP more likely than $3?
On Wednesday evening, Ripple’s signature Altcoin bounced off the $2.69 support floor and tacked $2.99, but failed to keep up with this confluent resistance level for more than six hours. After the shakeout, it traded for $2.744, with Ripple Coin prices continuing to trade under several key trend lines.
Under both the 50-week index moving average (EMA) and the 26-week EMA, the XRP price could plunge into major support at $2 if the current support level doesn’t hold the ground. For the meaning of rebound, whale emotions need to switch to accumulation, but for now the CMF is negative.
On top of that, XRP prices are currently far below all three Bollinger Bands (BOLLs). So, OG Altcoin has yet to find the floor as the market has plummeted to $3.8 trillion.
Trump’s tariffs and feeding stance burns fire
This comes after the Donald Trump administration declared 100% tariffs on all foreign drugs, promoting further uncertainty in the financial market. So the latest ride on the Ripple Coin (XRP) is $2.99, and it’s just a bull trap, making the short-term perspective seem bewildering.
According to the Fed Chairman’s latest announcement, there is no possibility of interest rate cuts this year. As a result, Federal Reserve officials like Beth Hammack and Austan Ghoolsby have urged bank officials to carefully cut fees. This could allow investors to pivot into risk-off investment vehicles, including gold and real estate.
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People ask:
The $3 counterfeiting was a recent price spike, and was not held to $3, probably before returning to $2.75 as of today due to hype and manipulation.
The $2 to $2 drop comes from profit after FakeOut, low purchase volume, or bear market sentiment, with $2.69 as the main support zone.
The settlement in the Ripple vs. SEC case (since 2020) cleared uncertainty, but the recent market decline suggests prolonged pressure.
Yes, while the use of XRP for cross-border payments by Ripplenet increases demand, speculative transactions still have a major impact on price fluctuations.
Do your own research and consult a financial expert. The volatility and legal risks of current can make it gamble.