Amid Trump’s reciprocal tariffs, XRP price came crashing down 5%, testing crucial support at $2, while futures liquidation surged to $18.5 million.
XRP XRP $2.14 24h volatility: 3.8% Market cap: $124.76 B Vol. 24h: $5.04 B has come under severe selling pressure, correcting 5% soon after Trump’s reciprocal tariffs kicked in on Wednesday, April 2. XRP price has once again dropped to the crucial support of $2 in a make-it-or-break-it situation for investors.
Bitcoin and the overall crypto market have come under severe selling pressure as Trump’s reciprocal tariffs send jitters across the global market. XRP experienced increased selling pressure on Wednesday, dropping 5% and triggering $18.51 million in futures liquidations. Long positions accounted for $12.067 million of the total liquidations, while short positions saw $6.45 million in losses, according to the CoinGlass data.
Will XRP Price Hold Above Crucial Support of $2?
Following the recent drop, XRP price has once again come to test the crucial support of $2. A drop below this level and the 200-day Simple Moving Average (SMA) would confirm a Head-and-Shoulders (H&S) pattern, potentially pushing XRP down to test support at $1.35.
Source: TradingView
However, if XRP bounces back, it still needs to close above the $2.34 resistance to invalidate the downtrend thesis. Crossing this will further open the gates for a rally to $3 and beyond.
Blockchain analytics firm Glassnode reports that XRP has become a standout asset among retail investors this cycle, diverging from Bitcoin’s institutionally driven rally. Since the 2022 market low, the number of active XRP addresses has surged by 490%, compared to Bitcoin’s modest 10% increase. This trend signals a significant rise in speculative retail interest in XRP.
$XRP has emerged as a new retail favorite this cycle, diverging from #Bitcoin’s more institutional-driven rally. Since the 2022 cycle low, $XRP active addresses are up +490%, while $BTC has only seen a +10% increase – a sharp signal of speculative retail demand. pic.twitter.com/mGRuktUVXK
— glassnode (@glassnode) April 3, 2025
RLUSD Stablecoin Goes Live on Ripple Payments
Just as the US House of Financial Services Committee announced the STABLE Act on Wednesday, for clear stablecoin regulations, Ripple’s RLUSD stablecoin also went live on the Ripple Payments, the cross-border payments network, in order to boost the stablecoin’s adoption.
Ripple announced that select clients, including cross-border payment providers BKK Forex and iSend, are utilizing RLUSD to enhance international treasury operations. Since its launch in December, RLUSD has expanded significantly, approaching a market capitalization of $250 million and reaching $10 billion in trading volume, according to Ripple.
As promised, RLUSD is now integrated into Ripple Payments — our cross-border payments solution with near-global coverage through 90+ payout markets, and instant connections to banks, FIs, payment service providers, exchanges and many more around the world. Enterprise utility… https://t.co/iAkjfNbkKI
— Jack McDonald (@_JackMcDonald_) April 2, 2025
Former Binance CEO Changpeng Zhao commented on Ripple’s announcement, stating that healthy competition in the stablecoin market is only beginning. However, he also noted that stablecoins will likely drive greater adoption of fiat currencies, as they remain pegged to them.
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