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Yash Jain
Yash Jain
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- May 23, 2025 14:31 UTC
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Why Bitcoin Ethereum and XRP Price Are Down Today? What Traders Need to Know Now
BTC, ETH, and XRP prices fell sharply after Trump's remarks on EU trade talks.
Bitcoin dropped below $108,500, Ethereum fell to $2,510, and XRP hit $2.31.
Trump announced a potential 50% tariff on the EU starting June 1, escalating trade tensions.
When Donald Trump became president of the USA and took a seat at the white house, people thought this year would boost cryptos to amazing prices. But those expectations are basically ruined by trade tensions. In Q1, almost every top crypto fell due to these tensions.
However, people thought Q2 would be fruitful, and it was, to some extent, when the US and UK became the first ones to register the deal. The optimism boosted every coin on the planet to some extent, and BTC jumped $112K following this optimism with massive institutional buying.
While Ethereum price rose to $2737, and XRP price rose to $2.64, the recent update from Donald Trump’s Truth Social highlights that trade talks with the European Union are “going nowhere”. The harsh statement sent shockwaves through the cryptocurrency market. Bitcoin fell below the $108,500 threshold in a matter of minutes, Ethereum price fell to $2510, and XRP price fell to the $2.31 mark.
Many are intrigued to know what happens here onwards, will Q2 see a fall like crypto prices did in Q1, or is it just another bump on the road? Keep reading to know.
Trump Will Impose 50% Tariff On June First: Know Why?
Trump, in his short but harsh speech, said that the European Union was “established to exploit Americans” and seems solely built to take advantage of the US in Trade. He sounded in the post that he tried, but the European Union was a tough one to deal with.
He also says that the EU has trade barriers, unmatched corporate penalties, VAT taxes, and several more issues that have directly led to a humongous amount of trade deficit with the US, which Trump claims to be over $250 billion annually.
Accordingly, he announced that he is strongly in favor of recommending the US to impose a straight increase in taxes to 50%, which will begin on June 1 onwards. He further said that if the EU wanted to build and manufacture in the US, then there would be no tariffs.
This sudden hardline stance against Europe is particularly disruptive, given recent efforts to ease trade relations with China, which had provided some stability to global markets. The unexpected shift has now pushed bearish sentiment in the market.
Bitcoin (BTC)
A look at bitcoin’s broader trend remains bullish, underpinned by strong support and fundamentals, alongside strong institutional backing.
However, in the short term, the price action looks uncertain, as it is exchanging hands at $108716, which is near its all-time high. The price seems to be trying to sustain in the strong supply region.
If this breaks, then this supply region will push the price back to $ 100 K. Also, the RSI shows that it is returning from the extreme overbought zone at 68.19, which indicates caution.
Ethereum (ETH)
At the start of 2025, the ETH price was on a decline, and in Q1 2025, it developed a strong high volume profile level at $2710. In Q2 2025, when the price started rising, this level became a hindrance to its further ascent.
Since mid-May 2025, the price of ETH has been trying to jump above it, but has failed due to the absence of strength, and now the increasing tensions with the EU have raised more uncertainty in the short term.
If ETH breaks its previous swing low of $2330, then it could fall to take support near $2100 mark. SO one must exercise caution, and avoid FOMO until it breaks the resistance area.
XRP (XRP)
The XRP price has also taken a hit from the recent Trump action, and fell a few points intraday. At this point onwards, things remain uncertain for XRP as well. If tensions escalate here on, then like any other crypto, XRP will also fall.
It has long followed a volume profile level built in Q4 2024, and currently, its price sits at that level. If in the coming days, XRP leaves this level and falls, then $2.06 is the support that needs monitoring; once taken out, the fall could escalate.
However, if XRP price takes out this high volume profile level this time, then $3.40 could be the next target.
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The crypto market pulled back after Bitcoin briefly hit $112K due to profit-taking and recent comments from Donald Trump regarding stalled trade talks with the EU.
Bitcoin’s long-term outlook remains bullish, but short-term volatility is expected amid trade uncertainty and global economic shifts.
The tariff signals rising global trade tensions, increasing market fear and prompting crypto sell-offs across multiple assets.
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