XRP (XRP) Price reached 13% during the day, trading above $ 2 level after President Donald Trump announced 90-day pause in all reward tariffsApart from China, who saw an additional 125% walk in response to their counter-tariffs against the US.
The XRP rally came to the heel of further positive news and the XXRP ETF was launched at the New York Stock Exchange (NYSE) ARCA.
Despite the positive macroeconomic and tradfi Crypto Adoption News, XRP charts are still cautious that a sharp price on the downside can be lying ahead.
The decrease of triangle pattern pattern to a 33% collapse
Since December 2024, the price of XRP has developed a potential triangle pattern in its daily chart, characterized by a flat support level mixed with a line of resistance to descending-sloping.
A downward triangle chart pattern That develops after a strong -to -date is seen as an indicator of bearish return. As a rule, the setup is resolved when the price breaks below the level of flat support and has dropped a greater number of the maximum height of the triangle.
The price dropped under the triangle support line at $ 2 on April 6, confirming a potential breakdown transfer. In this case, the price may fall towards the target downside around $ 1.20 by the end of April, down 33% from the current price levels.
XRP/USD Daily Chart. Source: Cointelegraph/Tradingview
The lowering triangle of the XRP trial triangular exemplifies the prophecy of businessman Casitrade that Altcoin may decrease by less than $ 1.55 due to a “book -study” review of the Elliott wave theory of Elliott.
“So far, $ 1.81 is a critical level to break into this plan,” the businessman Says In an April 8 post on X, added that if the price is losing that level, it will confirm a deeper move.
According to the Casitrades, the next level of viewing is $ 1.71, where the price will temporarily pause before the “expected final” to $ 1.55.
“Key Zone: The $ 1.55 is the golden secret and likely to end the entire W2 correction.”
XRP/USD 15-minute chart. Source: Casitrades
The bearish outlook mirrored veteran trader Peter Brandt’s prediction The price of that XRP could drop to $ 1.07 due to a “textbook” pattern of head-and-shoulders that make up the daily chart.
Related: Ripple Acquisition of Hidden Road A ‘Determining Moment’ for XRPL – RIPPLE CTO
Can XXRP ETF launch an XRP price that seller?
In spite of Launching XXRP ETF At the Nyse Arca on April 8, 2025, the price of XRP remains specific due to a mix of dynamics in the market and The rise of trade wars.
The 2x leveraged ETF, designed to strengthen the sun -the -day return of XRP, debuting amid increased volatility, with XRP trade around $ 1.71 after a 7.4% collapse in 24 hours.
XXRP ETF attracts $ 5 million in first-day quantity, to what Bloomberg ETF’s analyst Eric Balchunas analyst It’s called A praiseworthy victory over the ongoing chaos in crypto and other global markets.
Although it was 200x less than the volume posted by Blackrock’s Ibit ETF in the day one, this performance places XXRP in the top 5% of the new ETF launch.
Source: Eric Balchunas
Beyond the XXRP ETF, Macroeconomic Factor, especially US President’s President Donald Trump’s tariffs Donald Trump, rode on stage this week, threatening further volatility in crypto markets.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
