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๏ปฟAnjali Belgaumkar
๏ปฟAnjali Belgaumkar
Author
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โEnthusiastโ but trust me I'm getting there.
- Apr 03, 2025 06:31 UTC
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XRP Price Dips Below $2 for the First Time in Months
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XRP $ 2.01 (-5.62%) 
XRP drops below $2 amid market volatility, testing $1.96 support as Trumpโs new tariffs spark a $450M crypto liquidation.
XRP faces key resistance at $2.24-$2.30, with short-term bullish divergence offering hope, but major upside remains uncertain.
On Wednesday, XRP dropped below the critical $2 mark, retesting the $1.96 level as the crypto market faced heightened volatility. The sudden downturn in the market erased gains from the past three days, with over $450 million in crypto futures liquidated in the last 24 hours amid the impact of new U.S. tariffs.
The market shakeup follows President Donald Trumpโs decision to impose a 25% tariff on auto imports and at least a 10% tariff on all exporters to the U.S., adding pressure to already fragile investor sentiment.
Technical Analysis of XRP
According to an analyst, XRP continues to show signs of a bearish divergence, a pattern that has been developing for months, suggesting the potential for lower prices. However, zooming into the 8-hour timeframe, there’s evidence of a short-term bullish divergenceโa slight upward movement in price with choppy sideways action.
Currently, XRP is facing strong resistance between $2.24 and $2.30, with a recent rejection at around $2.24. This level has been a consistent barrier, preventing XRP from gaining momentum.
For support, the key zones are between $1.95 and $2.05. If XRP holds above this range, there could be a chance for a mild relief rally or a sideways price movement in the coming days. However, even with a short-term bullish divergence, XRP may struggle to break through resistance without stronger market catalysts.
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FAQs
XRP is dropping due to market volatility, U.S. tariff concerns, and large liquidations affecting overall crypto sentiment.
A short-term bullish divergence hints at a possible relief rally, but strong market catalysts are needed for sustained recovery.
Tariffs increase economic uncertainty, causing investors to move away from risk assets like crypto, leading to market-wide sell-offs.
Yes 
No 
