- XRP surges ~12% reclaiming $2 following Trump’s 90-day pause on some tariffs
- Rally hits resistance ($2.04, $2.11 EMA); StanChart maintains $12.50 long-term target
- Context: Short-term rally meets tech hurdles, highlighting gap to bullish long-term views
XRP made headlines again Thursday, surging nearly 12% in the past 24 hours to reclaim the $2 price level.
This jump came during a broader market relief rally following a surprise announcement from United States President Donald Trump.
What Drove the XRP Surge?
Trump announced a temporary 90-day pause on tariffs, lowering the reciprocal tariff rate to 10%. His decision, shared via Truth Social, marks a significant de-escalation in the trade tensions between the US and other countries, except China.
Related: XRP Network Grows Stronger: Holder Addresses Now At Record 6.26 Million
The tariffs on China were raised to 125%. Trump cited a “lack of respect” as the reason for this increase. Meanwhile, a lack of retaliation from more than 75 countries pushed Trump towards a 90-day pause on tariffs.
Markets reacted swiftly—and positively. XRP was among the biggest beneficiaries, surging to a daily high of $2.08. However, despite the bullish momentum, the asset has faced resistance at $2.04 and $2.38, as pointed out by prominent crypto analyst Ali Martinez.
$XRP key support levels sit at $1.67 and $1.39, while major resistance stands at $2.04 and $2.38! pic.twitter.com/VpmCwaU9tK
— Ali (@ali_charts) April 9, 2025
According to CoinMarketCap data, XRP has failed to break above the 20-day exponential moving average (EMA), which currently stands at $2.11.
What Does XRP’s Chart Show Now?
Current technicals suggest XRP needs to prove its strength. The Relative Strength Index (RSI) for the XRP price trajectory reads a value of 43.32, suggesting neutral-to-bearish momentum for the fourth-largest digital asset.
Related: Trump’s 90-Day Tariff Pause Can’t Shake Polymarket’s 65% Recession Odds
The gradient of the RSI line shows a spike in buying pressure followed by a sudden drop as XRP aims to retain price action above $2.
Meanwhile, XRP is eyeing a retest of the resistance level at the middle Bollinger Band ($2.15). If the lower Band support at $1.78 holds, investors can expect a move towards $2.15 and then $2.5 in the coming days.
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