XRP (XRP) has gone up by 7% and currently sits at $2.13 despite a wave of negative catalysts and bad news for the U.S. economy.
Earlier today, China responded to President Trump’s tariff increase by imposing a 34% levy on all U.S. goods.
Meanwhile, the Chairman of the Federal Reserve, Jerome Powell, said during a speech addressing business reporters that the central bank will take a pause before making any decisions on interest rates as the latest policy decisions from the Trump administration will likely increase inflation in the near term.
Finally, a strong jobs report this morning was interpreted as a relief for the Fed as well as the economy seems to be doing fine, which gives them room to delay rate cuts as they don’t seem necessary for now.
All of these macroeconomic developments should have catalyzed a significant drop in the price of digital assets, but they have not – at least not until now. In fact, they have done the exact opposite as the market is rallying following the news.
Apart from XRP, Solana (SOL) has gone up by 4.3% while Dogecoin (DOGE) has gained 6.1% in the past day.
XRP Bounces Off Key Trend Line Support – Can it Rally to $2.5?
Trading volumes have gone down by 25% in the past 24 hours for the native asset of the Ripple network. However, they are still well above the 14-day simple moving average (SMA) as Trump’s tariff announcement immediately caused a spike in volatility.
XRP bulls have managed to push the price of the token above a key trend line support to maintain a bull flag pattern in play that could result in high gains for the token in the next few months if a bullish breakout occurs.
Momentum indicators have been improving in the past couple of days as the Relative Strength Index (RSI) has been rising and seems heading to retest the signal line. Meanwhile, the MACD’s histogram shows that negative momentum has been decelerating.
The $1.90 level seems as the most relevant support area to watch in the daily chart at this point as a break below could signal the beginning of a trend reversal.
Meanwhile, if XRP loses the $1.8 level, the token could enter a downtrend and could risk losing a significant portion of the gains that it took in during the post-election and post-court-ruling rally.
On the other hand, as far as bulls are concerned, the most relevant resistance to watch stands at $2.5 at the moment, which means an 18% upside potential if positive momentum accelerates and the market shakes off the bad news.
As Trump’s trade war rages on, the best crypto presales like MIND of Pepe (MIND) still offer appealing upside potential to early buyers.
MIND of Pepe (MIND) Rises Nearly $8M to Launch a Power AI Agent
MIND of Pepe (MIND) is an innovative project that combines the power of artificial intelligence and the popularity of the Pepe the Frog meme to captivate social media users and build an influence across platforms like X.
Since the presale event kicked off in January, MIND of Pepe has raised $7.8 million, showcasing how investors are still drawn to meme coins and AI coins despite the market’s turmoil.
MIND of Pepe will share the insights it collects from its interactions with high-profile accounts and regular users on social media to $MIND holders to help them navigate these challenging conditions.
In addition, the agent can create its own meme coins to capture top social trends. $MIND holders will get exclusive access to the presale event of these assets before the public does to position themselves favorably to reap the highest returns once they are launched.
To buy $MIND, simply head to the MIND of Pepe website and connect your wallet. You can either swap USDT or ETH for this token or use a bank card to make your investment.
