A few days ago, US President Donald Trump
However, the rally didn’t last long. In the past 24 hours, XRP has dropped over 5.2%, raising concerns about whether the initial hype is fading.
Is Trump’s plan really a game-changer for XRP, or was it just a temporary boost? Let’s break it down.
Despite the recent dip, XRP has seen strong gains this week. On March 1, the token was trading at $2.14, and within just two days, it surged over 35.5%, briefly crossing the $3 mark on March 2.
However, this rally didn’t last long. By March 3, XRP had fallen to $2.38. The market then attempted a recovery, gaining 8.82% between March 4 and 6, but in the last 24 hours, it has dropped another 4.9%. This suggests that while Trump’s announcement initially boosted the market, the effect was short-lived.
Recent economic reports from the US have added to the uncertainty in financial markets.
These numbers indicate that the US economy is under pressure. Concerns over inflation and Federal Reserve policies have also led to lower risk appetite among crypto investors.
Nikolaos Panigirtzoglou, managing director of global market strategy at JPMorgan, believes Trump’s crypto reserve proposal has less than a 50% chance of gaining congressional approval. He also noted that if the reserve does get approved, it would likely only include Bitcoin and Ethereum, making it difficult for XRP, Solana, and Cardano to be part of it.
This explains why XRP’s rally was short-lived. Reports suggest that many traders took profits near the $3 level, contributing to the recent decline.
At the moment, XRP is trading at $2.35. Analysts warn that if selling pressure increases, the price could drop as low as $1.95.
On the other hand, if XRP holds above $2.47 and sees strong buying volume, it could move toward $3.20. However, there is strong resistance at $2.99, which may limit further gains.
The coming days will be crucial in determining XRP’s next move, as investors weigh the impact of macroeconomic conditions and political developments on the crypto market.
XRP might reach a high of $5.81 with an average of $4.89.
If Ripple wins against the SEC, XRP could reach $10 or higher. A prolonged case might keep prices around $5.81 in 2025 before further growth.
Yes, considering the developments in store for Ripple, XRP is surely a good investment for the long term.
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