We explore why XRP is losing its value and what is behind the current changes in the cryptocurrency market.
Economic Factors and Trump's Influence
The decline in XRP prices is due to macroeconomic factors in the U.S., including President Donald Trump's threat of high tariffs on Canadian, Mexican, and Chinese goods. These measures could lead to stagflation and force the Federal Reserve to cut rates prematurely.
Technical Indicators: What Do They Show?
Technical indicators suggest a potential bearish breakout. XRP's price fell to $1.9615, matching the neckline of the head-and-shoulders pattern. Further decreases could lead to a drop to the $1.6230 level.
Future of XRP: What to Expect?
Despite the price decline, Ripple's fundamentals remain solid. Improvement in SEC litigation and potential spinoff ETF could support the price.
The factors affecting XRP prices are varied. Technical indicators suggest potential further declines, but positive outlooks on fundamentals could change the situation.
