Why XRP Price Is Dropping Today: Will Inflation Data Release Help It Recover?

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?

Key Reason Why XRP is Down Today

On February 10, the newly elected US government, led by President Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President , imposed a 25% tariff on steel and aluminum imports. This move was aimed at supporting struggling domestic industries but has had a ripple effect on global markets, including cryptocurrency.

How US Trade Tariffs Are Impacting XRP

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.

China’s Response Worsens Market Sentiment

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.

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XRP Technical Analysis

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.  

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