XRP Surges 12% to $2 as Trump Pauses Tariffs

On April 11, XRP experienced a notable surge, climbing approximately 12% to reclaim the $2 price level. This rally was triggered by a broader market relief following an announcement from United States President Donald Trump, who declared a temporary 90-day pause on certain tariffs, reducing the reciprocal tariff rate to 10%. This decision marked a significant de-escalation in trade tensions between the US and other countries, except China, where tariffs were raised to 125%. The lack of retaliation from over 75 countries influenced Trump's decision to pause the tariffs.

XRP was among the cryptocurrencies that benefited the most from this news, reaching a daily high of $2.08. However, despite the bullish momentum, the asset faced resistance at $2.04 and $2.38, as highlighted by a prominent crypto analyst. The asset has struggled to break above the 20-day exponential moving average (EMA), which currently stands at $2.11. This technical hurdle suggests that while the short-term rally was driven by the tariff pause, the long-term outlook remains uncertain.

Current technical indicators suggest that XRP needs to demonstrate its strength to sustain the recent gains. The Relative Strength Index (RSI) for XRP's price trajectory reads a value of 43.32, indicating neutral-to-bearish momentum. The gradient of the RSI line shows a spike in buying pressure followed by a sudden drop as XRP aims to maintain price action above $2. XRP is now 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.

Despite the short-term rally, the gap between the immediate gains and long-term price targets highlights the volatility and unpredictability of the cryptocurrency market. The recent price movement underscores the importance of monitoring both short-term news events and long-term market trends when assessing the potential for further gains in XRP. While the tariff pause provides immediate relief, the long-term trajectory of XRP will depend on broader market conditions and regulatory developments. Analysts maintain a long-term target of $12.50 for XRP, reflecting a bullish outlook despite the current technical challenges.