XRP prices have fallen 4.08% in the past day alongside the majority of the crypto market following the US announcement of a potential 50% tariff on goods being imported from the European Union (EU). Amid this market downturn, popular market analyst CasiTrades has stated that XRP lies in danger of a further decline should a particular support level fail.\n<\/p>\n
As Bitcoin prices reached a new all-time high in the past week, XRP followed suit, reaching as high as $2.45 before experiencing a price rejection driven by negative macroeconomic pressure due to the new international tariffs by the US Government.<\/p>\n
In the day, XRP price notably declined by over 5% from $2.45 to $2.33 before finding some stability to enter a sideways movement as seen in the last few hours.\u00a0According to CasiTrades<\/a>, XRP\u2019s rejection aligns with a 1:1 Fibonacci extension of the corrective C-wave pattern in the Elliott Wave Theory, signaling the possible exhaustion of the previous relief rally seen earlier in the week.<\/p>\n \u00a0<\/p>\n Notably, the analyst warns that XRP\u2019s decline may lead to a retest of \u201cmajor structural support\u201d at the $2.25 \u2013 $2.26 price zone, which aligns with the Fibonacci retracement level 0.382. CasiTrades explains that Fib 0.382 has represented a key technical price level over the past six months.\u00a0<\/p>\n Therefore, a price break below this level could trigger deeper corrections, forcing XRP\u2019s price as low as $1.55 \u2013 $1.90, a price move that would wipe out all price gains that have been recorded since the crypto market uptrend resumed in early April.\u00a0However, if the $2.25 \u2013 $2.26 support zone holds, such market resilience could trigger a new price rally to around $2.70 and beyond. Thereafter, XRP is likely to return to the local peak of the current bull run at $3.84.\n<\/p>\n At the time of writing, XRP continues to trade at $2.33 following a 1.45% decline in the past week. However, the altcoin is up by 9.77% in the past month, reflecting that the majority of new market entrants are still in profit.\u00a0<\/p>\nXRP Price Overview\u00a0<\/strong><\/h2>\n