XRP’s price surged by 19% in the last 24 hours, breaking the $2 mark after President Donald Trump revealed a 90-day pause on all reciprocal tariffs, excluding China, which saw a 125% hike in response to US counter-tariffs.
This positive macroeconomic news and the listing of the XXRP ETF on the New York Stock Exchange (NYSE) Arca helped to contribute to the rally. However, the price prediction of XRP shows a bearish signal on the charts at the moment; the XRP price is currently at $2 with a 14% uptrend on the day, as per the data from CoinMarketCap.
It is also important to note that since December 2024, XRP has been in a descending triangle pattern, which is a bearish signal. As it was expected, XRP fell below the $2 mark on April 6, which pointed to a breakdown. If the price is to follow this trend, it may reach $1.20, which will be a decline of 33 percent from the current price.
Traders, including CasiTrade, predict that XRP could hit as low as $1.55 due to Elliott Wave Theory analysis, with $1.81 being a key level to watch. If XRP loses this support, a further decline to $1.71 and $1.55 could follow. Veteran trader Peter Brandt also forecasts a possible drop to $1.07, citing a head-and-shoulders pattern on the daily chart.
Though the XXRP ETF attracted $5 million in first-day volume, market volatility, along with the ongoing trade wars, keeps XRP’s price uncertain. As the US-China tariff situation escalates, more volatility could hit both crypto and traditional markets in the coming weeks.
Also Read: Will XRP Hit $3 This Week as Trump Pauses Tariffs?
