Following tariff suspension, XRP climbs over 10%, reaching a three-day high of $2.09.
Tariffs are suspended on some US trading partners for 90 days, with an increase on Chinese imports.
President Donald Trump announced a temporary suspension of
tariffs on many US trading partners while increasing tariffs on Chinese
imports. The decision came less than 24 hours after new tariffs had triggered a
global market decline.
Following the announcement, XRP saw a sharp increase,
climbing over 10%. The cryptocurrency reached a three-day high of $2.09235,
regaining the $2 psychological level.
XRP Price Rebounds Following Tariff Suspension
The XRPUSD H1 chart indicates that the price was initially
below 1.97600 and trending downward. However, it found support at 1.74300 and
made a strong bullish move. As it rose, the price breached the 1.97600 level
and traded above it for some time. This level could act as support, potentially
attracting intraday buyers to go long above it.
XRPUSD, H1 Chart, Source: TradingView
Conversely, if the price breaks the support, it may move
downward again. However, the tariff suspension could discourage sellers from
taking short positions.
Meanwhile, Ripple
has acquired Hidden Road for $1.25 billion, a move that could enhance its
position in the crypto market and support potential growth for XRP. The
acquisition makes Ripple the first crypto company to own and operate a global,
multi-asset prime broker.
Hidden Road provides services such as clearing, prime
brokerage, and financing across foreign exchange, digital assets, derivatives,
swaps, and fixed income.
The acquisition is intended to support the next phase of
growth in the crypto industry by providing infrastructure for institutional
adoption. Prime brokers are seen as essential for bridging traditional finance
and decentralized finance.
President Donald Trump announced a temporary suspension of
tariffs on many US trading partners while increasing tariffs on Chinese
imports. The decision came less than 24 hours after new tariffs had triggered a
global market decline.
Following the announcement, XRP saw a sharp increase,
climbing over 10%. The cryptocurrency reached a three-day high of $2.09235,
regaining the $2 psychological level.
XRP Price Rebounds Following Tariff Suspension
The XRPUSD H1 chart indicates that the price was initially
below 1.97600 and trending downward. However, it found support at 1.74300 and
made a strong bullish move. As it rose, the price breached the 1.97600 level
and traded above it for some time. This level could act as support, potentially
attracting intraday buyers to go long above it.
XRPUSD, H1 Chart, Source: TradingView
Conversely, if the price breaks the support, it may move
downward again. However, the tariff suspension could discourage sellers from
taking short positions.
Meanwhile, Ripple
has acquired Hidden Road for $1.25 billion, a move that could enhance its
position in the crypto market and support potential growth for XRP. The
acquisition makes Ripple the first crypto company to own and operate a global,
multi-asset prime broker.
Hidden Road provides services such as clearing, prime
brokerage, and financing across foreign exchange, digital assets, derivatives,
swaps, and fixed income.
The acquisition is intended to support the next phase of
growth in the crypto industry by providing infrastructure for institutional
adoption. Prime brokers are seen as essential for bridging traditional finance
and decentralized finance.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
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Watch the full video to see if Hola Prime Markets fits your trading needs.
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We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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▶️ YouTube: /@financemagnates_official
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We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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Recognition that matters.
Built on transparency.
Driven by the industry.
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Built on transparency.
Driven by the industry.
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Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
