XRP prices have dropped by 4.08% in the last day along with most of the cryptocurrency market after the US announced a potential 50% tariff for goods imported from the European Union (EU). In this connection, the popular market analyst Casitrades stated that XRP is not in danger of further decline if the specific level of support was promoted.

XRP must avoid failures below USD 2.25 – USD 2.26

When Bitcoin prices reached a recent level of all time last week, XRP followed in their footsteps, reaching even USD 2.45 before rejecting the prices of negative macroeconomic pressure due to the recent international tariffs by the US government.

During the day, the XRP price in particular dropped by over 5% from 2.45 to 2.33 USD before it found some stability to enter the side traffic, as can be seen in the last few hours. According to CasiitadesThe XRP rejection is consistent with the extension of Fibonacci 1: 1 wave pattern in the theory of Wave Elliott, signaling the possible exhaustion of the previous Rally of Aid seen earlier this week.

In particular, the analyst warns that the decrease in XRP may lead to a re -“main structural support” in the $ 2.25 – USD 2.26 zone, which is in accordance with the level of Fibonacci 0.382 Fibonacci. Casitrades explains that FIB 0.382 is a key level of technical price over the past six months.

Therefore, the price break below this level can cause deeper corrections, forcing the price of XRP by a height of $ 1.90 – $ 1.90, a price movement that would determine all the price benefits that have been registered since the resumption of the growth of the cryptographic market at the beginning of April. However, if the 2,25 – USD 2,26 support zone is maintained, such market resistance can cause a recent price rally to around USD 2.70 and more. Then XRP will probably return to the local current peak of Biela for USD 3.84.

Discussion of the XRP price

At the time of writing, XRP still trades $ 2.33 after a drop in 1.45% last week. However, Altcoin has increased by 9.77% over the past month, which reflects that most recent market participants still have profits.

In other positive messages, the variability divides fired Futures Trading Fund in XRP (ETF) on May 22. It is a 1x fund, which indicates that it tracks the daily results of Futures XRP contracts without levers.

With a total market capital of 233.58 billion dollars, XRP remains the fourth largest cryptocurrency and the third largest Altcoin on the market.