XRP could drop another 40% as Trump's tariffs make traders fearful

The XRP market is currently showing warning signs with a bearish technical pattern on the weekly chart. This pattern has formed after a strong bullish trend, creating a descending triangle structure. Many analysts predict that XRP could drop about 40% from its current price if it fails to maintain a crucial support level.

Specifically, XRP's price could head towards around $1.32 by April 2025. This development coincides with the 25% tariff imposed by President Donald Trump on imported cars, effective from April 3. This tariff is forecasted to increase inflationary pressure and create a risk-averse sentiment in the market, heightening traders' concerns.

However, if XRP can recover and surpass the resistance level around $2.55, the possibility of stronger growth could occur, exceeding the previous peak of $3.35.