Ripple (XRP) coin fumbled this week in a similar fashion to the broader crypto markets, led by Bitcoin’s (BTC) backtrack to $108K on Friday morning, as well as Ethereum’s drop to $3.8K. Now, the resilience is getting another test, as a quick $3 reclaim earlier this week shook up investor confidence.
XRP At $2 Becomes More Likely Than $3?
On Wednesday evening, Ripple’s signature altcoin bounced back from the $2.69 support floor to tack on $2.99, but couldn’t keep up with this confluent resistance level for longer than 6 hours. Trading at $2.744 after the shake-out, Ripple coin’s price continued trading beneath several key trend-lines.
Below both the 50-week Exponential Moving Average (EMA) & the 26-week EMA, XRP’s price might plunge to the major support at $2 if the current support levels do not hold their ground. For any rebound implications, whale sentiment has to switch back to accumulation, but right now the CMF is negative.
On top of that, XRP’s price is currently trading far below all three Bollinger Bands (BOLL), which means the OG altcoin is yet to find its floor as the market plunges to $3.8 trillion.
Trump Tariffs & FED Stance Fuels The Fire
This comes after Donald Trump’s administration declared a 100% tariff on all pharmaceuticals that’s coming from foreign countries, fueling further financial market uncertainty. So, with Ripple coin’s (XRP) latest run to $2.99 being nothing more than a bull trap, the short-term perspective looks bearish.
In the Fed Chair’s latest announcement, there’s no further chance of rate cuts this year. As a result, Federal Reserve officials like Beth Hammack & Austan Goolsbee urged banking officials to cut rates cautiously. This could make investors pivot to risk-off investment vehicles, including gold & real estate.
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People Also Ask:
The $3 fake-out was a recent price spike to $3 that didn’t hold, likely due to hype or manipulation, before dropping back toward $2.75 as of today.
A drop to $2 could stem from profit-taking, low buying volume, or bearish market sentiment after the fakeout, with $2.69 as a key support zone.
The settling of Ripple vs. SEC case (since 2020) cleared uncertainty, but recent market dips suggest lingering pressure.
Yes, XRP’s use in cross-border payments via RippleNet boosts demand, but speculative trading still heavily influences its price swings.
Do your own research and consult a financial expert—current volatility and legal risks can make it a gamble, not a sure play.