XRP News: XRP Faces Bearish Pressure Amid Tariff News and Market Decline

Ripple's XRP cryptocurrency experienced a decline on Monday, amid news of President Trump's plans to impose tariffs on Mexico and Canada. The broader crypto market also saw a significant drop, shedding nearly $230 billion in market capitalization. Here's a closer look at what's happening with XRP and the crypto market.

Ripple's XRP Declines Amid Tariff News

Ripple's XRP dipped on Monday as President Donald Trump reiterated plans to impose tariffs on Mexico and Canada. The token's funding rates turned negative in the past five days, signaling increasing bearish pressure. If XRP declines below the support level of $1.96, it could face significant downward pressure. The broader crypto market also declined, shedding nearly $230 billion in market capitalization in response to the news.

Crypto Funds See Massive $508M Outflow

Crypto asset investment products experienced significant outflows last week, totaling $508 million, according to CoinShares. This brought the cumulative two-week outflows to $924 million, following an 18-week streak of inflows that had accumulated $29 billion. CoinShares attributes this reversal to cautionary investor behavior amid macroeconomic uncertainty. Despite the broader outflows, altcoins saw continued interest, with XRP leading the inflows with $38.3 million.

Ripple: Will bears push XRP to $2.10? – Data suggests…

XRP has broken down an ascending triangle price action pattern and its $2.50 support. Traders were over-leveraged, and Ripple[XRP] appears to be shifting its trend from upside momentum to a downtrend amid ongoing market uncertainty. With a 5% price drop, the asset has breached its prolonged support and is poised for a massive price drop. Technical analysis confirms that XRP could experience a significant decline.

XRP Price Settles Lower—Will Sellers Push It Further Down?

The XRP price has started a fresh decline, dropping below the $2.550 and $2.50 support levels. It is currently testing the $2.250 mark and may continue to move downwards. The price is trading below the $2.50 level and the 100-hourly Simple Moving Average. A key bearish trend line is forming with resistance at $2.4880 on the hourly chart of the XRP/USD pair (data from Kraken). The pair might continue its downward movement unless there is a close above the $2.50 resistance zone. XRP failed to surpass the $2.75 resistance zone and started declining, similar to Bitcoin and Ethereum. It moved below the $2.65 and $2.55 support levels and even dipped below the $2.50 support, entering a bearish zone. A low was formed at $2.2310.