XRP's price increased by 13% following the announcement by US President Donald Trump of a 90-day pause on reciprocal tariffs. At the same time, the XXRP ETF launched on NYSE Arca.
General News About XRP and the Market
The rise in XRP's price was recorded after Donald Trump announced a pause on reciprocal tariffs, except for tariffs on China, which increased by 125%. The launch of the XXRP ETF also marked a significant event in the financial market.
Technical Analysis and Predictions
XRP charts show the formation of a descending triangle, indicating potential price decline. Since December 2024, the price has been under pressure, with forecasts suggesting a drop to $1.20, 33% lower than current levels. Analyst CasiTrade also predicted a decline to $1.55 based on Elliott Wave Theory.
Impact of Macroeconomic Factors and XXRP ETF
The XXRP ETF, launched on April 8, 2025, attracted $5 million on its first trading day. However, XRP's price remains precarious due to market dynamics and escalating trade wars. It is suggested that this could influence further volatility in the cryptocurrency market.
Despite positive tariff news and the ETF launch, the ecosystem surrounding XRP remains under pressure from potential downturns, requiring careful analysis of current events by investors.
