XRP prices have fallen 4.08% in the past day alongside the majority of the crypto market following the US announcement of a potential 50% tariff on goods being imported from the European Union (EU). Amid this market downturn, popular market analyst CasiTrades has stated that XRP lies in danger of a further decline should a particular support level fail.
XRP Must Avoid Crash Below $2.25 – $2.26
As Bitcoin prices reached a new all-time high in the past week, XRP followed suit, reaching as high as $2.45 before experiencing a price rejection driven by negative macroeconomic pressure due to the new international tariffs by the US Government.
In the day, XRP price notably declined by over 5% from $2.45 to $2.33 before finding some stability to enter a sideways movement as seen in the last few hours. According to CasiTrades, XRP’s rejection aligns with a 1:1 Fibonacci extension of the corrective C-wave pattern in the Elliott Wave Theory, signaling the possible exhaustion of
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