XRP's price is actively changing due to political factors related to President Trump's statements about the Federal Reserve. The escalating situation may contribute to the cryptocurrency's growth.
Political Factors Impacting XRP
Donald Trump has expressed opinions on potential changes in the leadership of the Federal Reserve, which may influence XRP's price. In a video shared by analyst Levi Rietveld, it was noted that Trump might be about to "flip the switch" on the economic situation, signaling potential changes in interest rate policy.
Market's Positive Reaction
According to Rietveld, XRP has already shown a positive reaction to the news, posting eight consecutive days of growth. The cryptocurrency has surpassed key resistance levels at $3.06 and $3.07. He described the market activity as "insane," adding that the current rally appears to be just beginning. The market also responds to a mix of "fake news, real news, good news, and bad news," creating sharp reactions in cryptocurrencies.
Technical Forecasts for XRP
Analyst Steph Is Crypto highlighted a bullish double bottom pattern forming on XRP’s 3-day chart, indicating a possible rise toward the $4 mark. XRP has gained 27 percent over the past week, with traders focused on the interplay between monetary policy and market structure. Rietveld also pointed out that the ongoing devaluation of the U.S. dollar is driving investors towards inflation-resistant assets.
As political uncertainty rises and XRP builds technical strength, market watchers prepare for significant fluctuations. Expectations of policy changes under Trump's pressure could lead to potential gains for the cryptocurrency in the future.
