Why XRP Is Going Down Today: Trump Tariffs on Steel Impact Price
Why XRP Is Going Down Today: Check Trump Tariffs and Market Volatility XRP has witnessed a price decline in the last 24 hours despite major developments surrounding Ripple. The XRP price dropped by 1.86%, currently trading at $2.44, with a market cap of $141.02 billion and a 24-hour trading volume of $5.51 billion. However, over the past week, the cryptocurrency recorded an impressive 4% price surge, highlighting ongoing volatility.Source: CoinMarketCapWhy XRP Is Crashing: Key Reasons Behind the DeclineThe broader cryptocurrency market is experiencing turbulence following former U.S. President Donald Trump’s tariffs on steel and aluminum imports. Trump announced a 25% tariff on steel and additional levies on aluminum, reinforcing his stance on trade imbalances. The financial markets reacted negatively, and XRP was particularly affected by the uncertainty surrounding these policies.Additionally, China retaliated with countermeasures, imposing tariffs on U.S. coal, liquefied natural gas, crude oil, and agricultural machinery. The escalating trade war between the world’s two largest economies has contributed to market instability, further pressuring XRP’s price.Will XRP Go Up? Factors That Could Boost XRP PriceDespite the short-term dip, analysts believe XRP could recover and even surge in the long term. Several key factors could drive future price movements:Ripple CEO Joins White House as Crypto Advisor: The latest Brad Garlinghouse news suggests that his advisory role could positively influence regulatory decisions, potentially benefiting XRP price.Ongoing Regulatory Developments: Ripple’s long-standing legal battle with the SEC has significantly impacted XRP news. Positive regulatory clarity could pave the way for a price surge.Ripple’s Technological Advancements: Ripple CTO David Schwartz recently announced that XRP will now auto-bridge RLUSD, which could drive mass adoption and increase liquidity on the XRP Ledger.XRP Price Prediction: Can XRP Reach $10?Market experts predict that XRP will trade between $5 and $7 in the first half of 2025, supported by Ripple’s expanding partnerships and regulatory clarity. Looking further ahead, the XRP prediction 2030 suggests that if adoption continues to grow and legal hurdles are cleared, XRP could reach $10.While the cryptocurrency faces short-term challenges due to global economic conditions and trade tensions, long-term growth prospects remain strong. The question remains: Will XRP go up? The answer largely depends on market sentiment, regulatory progress, and continued advancements in Ripple’s technology.