The XRP price rose 13% on the same day, and after President Donald Trump announced a 90 -day suspension of all mutual tariffs except China, he raised an additional 125% increase in response to the United States.
XRP’s rally begins with additional positive news and XXRP ETF at the New York Stock Exchange (NYSE) Arca.
Despite the positive macroeconomic and Tradfi Crypto adoption news, the XRP chart warns that the XRP chart still has a sudden drop in prices.
Hint with 33% drop of triangle pattern
Since December 2024, the XRP price is characterized by a flat support level mixed with a downward direction resistance line by forming a potential triangle pattern on the daily chart.
The descent triangle chart pattern formed after a strong rise is considered a weak reversal indicator. In principle, if the price drops below the flat support level, the settings will be solved and the maximum height of the triangle is dropped.
The price was $ 2 on April 6, down below the triangle support line, confirming potential failure. In this case, the price may fall toward the downturn of about $ 1.20 by the end of April, down 33% from the current price level.
XRP/USD Maeil Daily Chart. Source: COINTELEGRAPH/TradingView
XRP’s descent triangle targets Trader Casitrade’s prediction that Altcoin can drop to $ 1.55 due to the “textbook” Elliott Wave theory analysis.
The Trader added that on April 8, the April 8 post, the price will confirm the deeper movement if the price loses the level.
According to Casitrades, the next level is $ 1.71, where the price will be temporarily suspended before the “expected final minimum” to $ 1.55.
“Key area: $ 1.55 is a golden sponsorship and is likely to end the end of the entire corrective W2.”
XRP/USD 15 minutes chart. source: Casitrades
Bearish Outlook reflects the prediction of the veteran merchant Peter Brandt’s prediction that the XRP price can fall to $ 1.07 due to the “textbook” head and shoulder pattern on the daily chart.
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Can XXRP ETF avoid selling XRP prices?
Despite the launch of XXRP ETFs on NYSE ARCA on April 8, 2025, the price of XRP is unstable due to the increase in market epidemiology and trade war.
Designed to amplify XRP’s daily revenue, the 2X leverage ETF debuted at about $ 1.71 after a high volatility and a 7.4% decrease in XRP transactions in 24 hours.
The XXRP ETF attracted $ 5 million in the first book, which was called a great achievement, considering the bust of Bloomberg ETF analyst ERIC BALCHUNAS in Crypto and other global markets.
This is 200 times lower than the volume posted by BLACKROCK’s IBIT ETF on the first day, but this performance puts XXRP to the top 5%of the new ETF release.
source: Eric Balchunas
In addition to XXRP ETFs, US President Donald Trump’s mutual tariffs and macroeconomic factors are the center of this week, threatening further volatility in the crypto market.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.