With the introduction of reciprocal tariffs, Ripple and its digital currency XRP are in the spotlight. The recent legal victory might work in the company's favor.
Ripple: Strengthening its Position Post-Lawsuit
Recently, Ripple successfully concluded its lawsuit with the SEC, strengthening the company's market stance. With RLUSD's launch in cross-border payments, XRP might become a strong contender amidst news of new tariffs.
Technical Analysis: Patterns and Indicators
An inverted head and shoulders pattern has formed on XRP's hourly chart, indicating a possible bullish reversal. A rising trend on both MACD and the 14-day EMA suggests increased buying pressure.
XRP Price Development Forecast
Breaking through its key resistance zone could push XRP's price to the $2.33 level, and a positive tariff announcement could lift it to $2.50. Conversely, strong rejection at resistance might see the price retrace to its support at $2, or even $1.75 if bearish sentiment intensifies.
The introduction of new tariffs could be a significant factor for market volatility and XRP's price dynamics. Ripple's successful moves towards strengthening its position set favorable conditions for growth.
