XRP took a hit today, sliding down 4% amidst a turbulent backdrop of global economic jitters. The ripple effect of this downturn has been felt across the crypto landscape, with XRP falling from $2.20 to $2.14, as the market wrestled with a 3.81% contraction, shrinking the overall cap to $3.3 trillion. This latest volatility was spurred by the U.S. Court of International Trade’s abrupt decision to dismantle Trump-era tariffs, a move that has rekindled trade policy anxieties and sent shockwaves through risk assets. This mirrors the cautious optimism seen in the broader crypto market, as detailed in Bitcoin Traders Eye Breakout to New Highs as Trump Says Tariff Deals Progressing.
Market Reactions and Liquidations
XRP’s stumble wasn’t without consequence. Traders were on high alert, leading to over $29.68 million in long positions being liquidated. It appears that the market was caught off guard by the broader selloff, prompting many to reassess their exposure. According to CoinDesk Research, the token faced formidable selling pressure at the $2.21 resistance level, a key technical marker that thwarted any attempted rebound.
Meanwhile, other developments in the XRP ecosystem are stirring interest. On the same day, China-based Webus International disclosed plans to inject up to $300 million into its global chauffeur payment network, backed by an XRP reserve. The initiative is set to harness XRP’s cross-border settlement prowess, integrating on-chain booking records and a Web3 loyalty program. This strategic move is underscored by a renewed partnership with Tongcheng Travel Holdings, aiming to streamline cross-border ride settlements through the XRP Ledger. This comes on the heels of Ripple’s significant financial maneuvers, such as the reported offer of $4B-$5B for stablecoin issuer Circle, as covered in Ripple Offered $4B-$5B for Stablecoin Issuer Circle: Bloomberg.
Technical Hurdles and Potential Stabilization
The technical landscape for XRP paints a picture of cautious optimism. A strong buying wave emerged around $2.11 during the early morning hours, staving off deeper declines. Recent consolidation between $2.13 and $2.14 hints at potential stabilization, though the persistent pattern of lower highs suggests that sellers still hold sway.
In a curious twist, the last trading hour saw XRP forming a higher-low pattern around $2.135, hinting at a flicker of short-term support. However, this was met with resistance at the $2.144-$2.145 corridor, creating a tight range that traders will be scrutinizing for the next decisive move.
Ripple’s strategic maneuvers continue to unfold, with the company recently releasing a report on the transformative potential of blockchain in cross-border payments. As traditional rails grapple with inefficiencies—slow speeds, high costs, and opacity—Ripple’s blockchain-based solutions promise near-instant settlements, enhanced liquidity, and improved trust. The report highlights the $31.6 trillion B2B market, with projections soaring to $50 trillion by 2032, underscoring the massive opportunity for disruption.
Looking Ahead: Uncertain Terrain
As we look to the days ahead, XRP’s trajectory remains uncertain. The interplay of macroeconomic pressures and technical dynamics will be crucial in determining its path. Traders are likely to keep an eagle eye on key levels, watching for signs of sustained support or further breakdown.
The broader market’s response to ongoing economic developments, particularly in the realm of international trade policies, will also be a significant factor. With Webus International’s bold XRP-backed initiative and Ripple’s focus on cross-border payment innovations, the landscape is anything but static.
In an ever-evolving market, the question remains: Can XRP find its footing amidst the cacophony of global economic tensions and technical challenges? Only time will tell, but for now, traders and analysts alike are bracing for what comes next.
Source
This article is based on: XRP Down 4% as Global Economic Tensions Trigger Market Selloff
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
