$XRP
🚨Will XRP price crash halt here?🚨
From a technical standpoint, the chances are in favor of bulls. However, Bitcoin’s outlook remains bearish as noted by CoinGape’s previous coverage. Hence, investors should watch for a BTC recovery rally to confirm a potential bottom formation for XRP. A failure to hold above $105K could lead to a steep correction for BTC, including a revisit of $ 100,000.
In such a case, the high correlation with BTC will cause XRP price to follow Bitcoin’s footsteps and crash lower. Investors can expect a retest of the $2 psychological level under these bearish conditions.
The macroeconomic factors keep playing a crucial impact on crypto market. One key such factor is Trump tariffs and US president’s uncertain moves. Yesterday, the market went bullish following the US international trade affairs court overrules the tariffs. But, as reported by Coingape, soon after, the Federal appeals court reinstated the Trump tariffs. This was a huge shock for the crypto markets, Bitcoin fell to $105k while XRP price also took a hit.
Markets are expecting a very volatile weekend as macroeconomic factors continue to adversely impact crypto while the fundamentals look better than ever.