Over the past week, XRP has fallen by 4%, with a sharp 2.9% drop in the last 24 hours alone. This sudden decline has left investors asking: why is XRP down today?
On February 10, the newly elected US government, led by President Donald Trump
Even before the announcement, the crypto market reacted. On February 9, XRP slipped by 0.72%. By February 10, the price had dropped to as low as 2.3232, showing early signs of market uncertainty.
Trump first revealed his plan to impose tariffs on Canada, Mexico, and China on February 1. This led to a sharp decline across financial markets, including crypto. By February 2, XRP had already fallen by 15.02%, dropping from 3.0364 at the start of the month.
On February 3, the White House announced a temporary pause on the tariff proceedings against neighboring countries, but the damage had already been done. Shortly after, China responded with a 15% counter-tariff on selected US goods, creating more market uncertainty. Between February 4 and 6, XRP dropped another 13.87%.
In total, between February 1 and 6, XRP lost 23.41% of its value. The market has not yet recovered from this price drop, which was triggered by early February’s trade policy shifts.
The 50-day SMA of XRP stands at $2.4114; the 100-day SMA at $2.1684; and the 200-day SMA at $1.3641.
Currently, the price of XRP remains at $2.4145. In the last 24 hours alone, the market has declined by over 2,9%.
The 14-day RSI of the XRP market is approximately 38.61. The market’s RVI value remains at 51.29.
The ATR of XRP is approximately 0.2331. Meanwhile, the stock indicator shows that %K remains at 46,35 and %D at 45,99.
XRP is dropping due to Trump’s new tariffs, global trade tensions, and overall crypto market correction affecting investor sentiment.
XRP fell 2.9% in 24 hours, influenced by U.S. economic policies, declining investor confidence, and broader market volatility.
XRP remains volatile; traders should watch key support levels and market trends before investing amid ongoing economic uncertainties.
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