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Why XRP Price is Dropping Today: Will inflation data release today help it recover?

Will XRP Crash to 1.90 111 Million Shorts Dominate .webp.webp

The post Why XRP Price is Dropping Today: Will inflation data release today help it recover? appeared first on Coinpedia Fintech News

In the last seven days, the XRP market has experienced a serious drop of 4%. In the last 24 hours alone, the market has declined by over 2.9%. The big question now is: Why XRP is Dropping Today

Key Reason Why XRP is Down Today 

On February 10, the newly indicted US government, led by President Donald Trump



President



increased tariffs on steel and aluminium imports to 25%, emphasising his commitment towards supporting the struggling industries in the country. 

There are many reasons to believe that the entire cryptocurrency market, especially top cryptos like XRP, has suffered the impact of Trump’s aggressive tariff plan targeting the global aluminum and steel business ecosystem. 

A day before the announcement, the XRP market slipped by over 0.72%. At a point on February 10, the market touched as low as $2.3232. 

Trump’s Economic Decisions and XRP’s Price 

On the first day of this month, the US president announced his plan to impose import tariffs on Canada, Mexico and China. Almost all the major sectors, including the crypto, suffered the immediate impact of the decision. 

At the start of February 1, the price of XRP was $3.0364. In the first two days of the month alone, the XRP market declined by nearly 15.02%. On February 3, the White House shared its decision to briefly pause the proceedings to impose import tariffs against its neighbours. 

However, China aggressively reacted to the US’ provocative trade policy, declaring a 15% counter-tariff on selected US goods. Between February 4 and 6, the XRP market plummeted by approximately 13.87%. 

Precisely, between February 1 and 6, the market declared by not less than 23.41%. 

Notably, the market has not yet recovered from this aforementioned correction caused by the Trump administration’s early February trade policies. 

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  • Also Read :
  •   XRP Price Prediction For February 12
  •   ,

XRP Technical Analysis 

The 50-day SMA of XRP stands at $2.4114; the 100-day SMA at $2.1684; and the 200-day SMA at $1.3641.

Currently, the price of XRP remains at $2.4145. In the last 24 hours alone, the market has declined by over 2,9%.

The 14-day RSI of the XRP market is approximately 38.61. The market’s RVI value remains at 51.29. 

The ATR of XRP is approximately 0.2331. Meanwhile, the stock indicator shows that %K remains at 46,35 and %D at 45,99.  

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FAQs

What is the reason for XRP drop?

XRP is dropping due to Trump’s new tariffs, global trade tensions, and overall crypto market correction affecting investor sentiment.

What happened with XRP today?

XRP fell 2.9% in 24 hours, influenced by U.S. economic policies, declining investor confidence, and broader market volatility.

Is it worth investing in XRP now?

XRP remains volatile; traders should watch key support levels and market trends before investing amid ongoing economic uncertainties.

Kaynak : CoinPedia

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