XRP has been trading near an important support level,
showing multiple rebounds in recent sessions. On the hourly chart, XRPUSD made
a bearish move after facing rejection around 2.20000. If the support at 2.07000
holds, the price may attempt an upward move. However, a breakdown below the
support could push the price lower.
The broader market remains uncertain as the Trump
administration prepares to announce its tariff strategy. The policy, set for
release today at 10 PM CET, will introduce reciprocal tariffs on 15 countries,
including China, Canada, and Mexico. These measures target nations that have
imposed duties on U.S. goods.
Tariff Volatility Continues to Impact Risk Assets
“The well publicised implementation of tariffs and volatility
we have seen in the wake of their announcements will continue to impact risk
assets. Our strategy has always to maintain a market neutral position and
nowhere is this more appropriate than in such a volatile environment,” Paul
Howard, Senior Director at Wincent, commented.
Wall Street is concerned about the economic impact of the
tariffs. Meanwhile, the cryptocurrency market faces uncertainty. Analysts have
differing views on how digital assets will react, given the volatility seen
earlier this year.
“The correlation between risk assets such as
cryptocurrencies and macro markets is more pronounced than ever,” Howard
continued.
Trump’s tariffs will result in a massive transfer of wealth from working people into the hands of millionaires and billionaires. Here’s how. pic.twitter.com/pS7QHK9CGz
— Robert Reich (@RBReich) March 25, 2025
“If we focus on the fundamental changes that have
happened in support of the industry the last 3 months then it is likely once
the markets become more settled with the new economic paradigm. Once again, we
should see the majors start to trade a more positive trajectory in the
mid/longer term.”
This article was written by Tareq Sikder at www.financemagnates.com.
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