Why Is XRP Going Down? Trump’s Steel and Aluminum Tariffs Are Affecting Crypto Prices 

The cryptocurrency market experienced turbulence as former President Donald Trump announced substantial tariffs on steel and aluminum imports, with XRP particularly affected by the market uncertainty.Why Is XRP Down Today? Token Faces Pressure Following Trump’s Trade War EscalationXRP has declined 2.36% in the last 24 hours, currently trading at $2.40, as traders react to Trump’s latest trade policy announcement. The digital asset movement reflects broader market concerns about escalating trade tensions.The former president declared a 25% tariff on steel imports entering the United States, alongside additional levies on aluminum. Trump emphasized his commitment to reciprocal tariffs, stating that trade imbalances with other nations would not continue unchecked.Why is XRP falling? The price gets to the $2.40 mark. Source: CoinMarketCapAfter the announcement, the cryptocurrency market’s total capitalization showed signs of stress, though some assets have begun showing recovery signals. The announcement represents another chapter in ongoing trade tensions, with Trump also indicating plans to implement tariffs on various sectors, including superconductors, oil, gas, and copper.Will XRP Go Up? XRP/USDT Technical Analysis Says SoBased on my technical analysis, XRP is currently utilizing a strong support zone that could potentially trigger a bounce toward theoretical maximums just below the $3.40 level.February’s decline halted at the $2.25 level, which is further reinforced by the 38.2% Fibonacci retracement. The price formed a significant hammer pattern (pin bar) at this level on February 3rd, with a notably long lower wick. While the buy signal hasn’t materialized yet, and the price continues to hover around the support area, this level should ultimately allow movement toward the current consolidation’s upper boundary.XRP technical analysis shows growth potential. Source: Tradingview.comThis scenario would be invalidated if XRP drops below $2.25, opening the path for a retest of the $2 level, where the 50% Fibonacci retracement coincides with the descending trendline drawn from the declining peaks since December 2024.A break below this level would signal to me that sellers are returning to the XRP/USDT chart, potentially pushing the price toward $1.60, which aligns with the 61.8% Fibonacci retracement.Support LevelsResistance Levels$2.25 – Local 2025 lows$2.48 – Local resistance$2.00 – Psychological level, 50% Fib retracement$2.9185 – December highs$1.60 -Mid-November highs, 61.8% Fib retracement$3.50 – 2025 highs, target levelTrading activity suggests heightened caution among investors, with market participants closely monitoring the potential ripple effects of these trade policies on digital asset valuations. While some cryptocurrencies have shown resilience, XRP’s current price action indicates particular sensitivity to macroeconomic developments.XRP Price Prediction 2025: Will XRP Reach $5?Advanced predictive modeling using DeepSeek AI and market