CoinInsight360.com logo CoinInsight360.com logo
Finbold 2025-04-03 15:19:47

XRP price analysis as Trump tariffs trigger panic selling

Panic selling has caused a 5.63% decrease in XRP price over the past twenty-four hours. On April 2, President Trump’s latest tariff package sent the entire cryptocurrency market into panic mode. This resulted in over $140 billion in losses for the wider market. At press time, the token was changing hands at a price of $2. This figure equates to a 3.69% loss on a year-to-date (YTD) basis. XRP price 1-day and year-to-date (YTD) charts. Source: Finbold It appears that a drop below $2 due to the tariffs is imminent. While bullish traders managed to keep the drop in XRP price from breaching the psychologically important level of support on April 1, at present, there simply is no bullish catalyst strong enough to stop the sell-off. Key level to watch as XRP price continues to slide XRP is currently trading well below its 50-day and 100-day moving averages (MAs). With the level of support at $2 about to be breached, the next price point where the asset could stabilize is around $1.80, at its 200-day moving average. Conversely, a close above $2, however unlikely, would go a long way in blunting the currently bearish sentiment at play. One positive development could be in the cards — the Securities and Exchange Commission (SEC) is holding a closed meeting today. Quite a few market commentators speculate that the meeting will be the final conclusion of the regulator’s case against Ripple. Even so, the news will likely have little impact on the prevailing XRP price at the time, as it will almost certainly be drowned out by market-wide volatility. Featured image via Shutterstock The post XRP price analysis as Trump tariffs trigger panic selling appeared first on Finbold .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.