XRP (XRP) price is up 13% on the day, trading above the $2 level after President Donald Trump announced a 90-day pause on all reciprocal tariffs, except for China, which saw an additional 125% hike in response to their counter-tariffs against the US. XRP’s rally comes on the heels of additional positive news and the XXRP ETF being launched on the New York Stock Exchange (NYSE) Arca.
Despite the positive macroeconomic and TradFi crypto adoption news, XRP charts still caution that a sharp price downside could lie ahead.
Descending triangle pattern hints at a 33% drop
Since December 2024, XRP price has been forming a potential triangle pattern on its daily chart, characterized by a flat support level mixed with a downward-sloping resistance line.
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