The price(UPDTE)👇💥 of Ripple’s cryptocurrency, XRP, has plunged 27% from $3.07 to $2.23 over the last seven days. This can be attributed to a broader decline in cryptocurrencies following tariffs imposed by President Trump on Canada, Mexico, and China. Elevated tariff rates would reduce access to lower-priced goods - pushing consumer costs higher. Such inflationary effects could lead the U.S. Federal Reserve to become more hesitant about cutting interest rates in the current year. Separately, another crypto name has been volatile lately, too. See: What’s Happening With Solana?
The recent slide in XRP comes after an impressive period of 600% growth between November 2024 and January 2025 and looks like a minor setback given XRP’s encouraging prospects. The cryptocurrency’s previous rally was fueled by Trump’s presidential election victory, which generated optimism about more accommodative crypto policies. Positive momentum in its legal disputes further supported the asset’s outstanding performance. Our take on XRP – Up 300% In A Month, XRP Is Just Getting Warmed Up – has more details
