XRP Outlook: Examining Ripple's Price Following the Drop Below $1.5

crypthub

1 day ago

Market Reaction to Trump Tariffs

The crypto market experienced a significant selloff following President Trump's announcement of tariffs on Chinese imports. This triggered widespread risk aversion, impacting assets including XRP. Nearly $900 billion in market capitalization was lost, leading to forced liquidations and significant price declines.

XRP's Price Action

XRP broke through key technical levels, decisively falling below a multi-month symmetrical triangle. The price plunged, approaching a 55% decline toward the $1.2 threshold. Despite the crash, the long-term bullish structure remains intact if the price stays above a key ascending trendline.

Short-Term Outlook for XRP

On the 4-hour chart, XRP sliced through support levels, triggering stop-losses and widespread liquidations. Early signs of stabilization appeared with a rebound, as buyers absorbed the selling pressure. Reclaiming the $2.7–$2.8 zone could spark a relief rally, but failure to do so might extend the correction.

Momentum and Future Sentiment

The RSI indicates deeply oversold conditions, suggesting potential weakening of sellers. Recovery will likely remain volatile and heavily influenced by overall market sentiment concerning the tariff implications. The broader market's reaction will dictate XRP's near-term direction.