The broader crypto markets flashed all shades of red on Monday morning, as Donald Trump’s global trade tariffs echo across the markets. Since the United States President came back to the Oval Office, the global crypto market cap has slimmed by $1.11 trillion, now summing up to below $2.5 trillion for the first time in a while.
Major-cap altcoins are among the hardest hit, with Ethereum price (ETH) tumbling by 16.5%, while the popular cross-border altcoin Ripple (XRP) surrendered to a 15.2% 24-hour drop. Besides, things were not looking any better for Ripple coin’s main competitor Solana (SOL), as the Layer-1 chain’s price flopped below $100 for the first time in two years.
Why XRP Price Dip Might Not Be Over Just Yet
As Donald Trump’s imposed global tariffs scare away crypto & stock market investors, many are concerned about Ripple (XRP) coin’s price in the near term despite the recent rumors on XRP SWIFT integration. Indeed, the OG altcoin is exposed to institutional investors that could choose to panic sell if the global trade war accelerates.
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As if that wasn’t enough, leveraged crypto traders were caught red-handed on Derivatives, as market mayhem resulted in $1.22B daily long liquidations.
Since Sunday morning, the differential between bear and bull strength in terms of XRP coin price has gradually grown towards a full-on crypto bear takeover. Simply put, the Bull Bear Power (BBP) meter shows who is dominating the market, short-sellers or believers in the token.
After hitting the intra-day lows of $1.65, Ripple coin (XRP) managed to get out of the dangerous territory and broke through the low-level Bollinger Band (BOLL), depicted in green colour on the price chart. On top of that, XRP price has shown weakness in price structure against Bitcoin in the recent weeks, as XRP price dropped by 12.5% weekly in comparison to Bitcoin’s 5.5% slip.
On The Flipside
- As responses to Donald Trump’s worldwide trade tariffs begin to flood in, the shifting geopolitical landscape could induce another wave of Bitcoin & XRP sell-offs.
- Adoption cases in cross-border payments, including a plausible XRP SWIFT integration, could massively impact Ripple’s native coin price in the longer term.
Why This Matters
The Domino effect across crypto markets comes after Donald Trump’s tariffs announcement, resulting in an implosion on China stock market, Dow Jones Futures and the S&P 500. The situation resembles the 1987 stock market crash, notoriously known as the Black Monday.
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