There is a distinct possibility that XRP below $2 could soon become a reality.
Donald Trump’s ‘Liberation Day’ tariffs are set to be announced later today. While duties levied on imports don’t have a direct effect on the cryptocurrency market, they do have an indirect effect — which has proven to be no less impactful.
Simply put, the budding trade war brings resurgent fears of inflation, increases the possibility of recession, and decreases the odds of long-awaited rate cuts. This tends to make investors more than a little skittish — resulting in a risk asset selloff and a pivot to more conservative holdings.
At press time, XRP was changing hands at $2.12. A 14.02% drop on the weekly chart has brought year-to-date (YTD) gains down to 1.91%.
XRP price 1-week and year-to-date (YTD) charts. Source: Finbold
Despite a landmark legal victory, recent events have not provided enough of a catalyst to sustain an upward trajectory for the digital asset. The token has lost
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