Ripple’s native coin XRP is following in the footsteps of the public fallout between tech mogul Elon Musk & The United States President Donald Trump. The squabble around the massive tax cut bill, popularly dubbed as “One Big Beautiful Bill Act (OBBBA) divided the Republican Party’s supporters into two very contrasting camps.
Ripple (XRP) is getting caught up in the middle of this superstorm, as the OG altcoin still holds a comfortable spot in the upcoming crypto strategic reserve in the United States. On Friday, XRP price dipped 3.5% to find its floor at $2.08. Orchestrating a mini comeback later, XRP price now trades at $2.172, according to TradingView’s real-time price data.
Does XRP Price See Light At The End Of The Tunnel?
As we will see in the graph below, Ripple coin’s (XRP) price broke through the green Bollinger Band (BOLL) after shortly falling below the $2.09 range late Thursday evening. Currently, the $2.17 price range won’t offer much support if the OG altcoin doesn’t reclaim the mid-tier BOLL band, portrayed with a thin blue line.
On the brighter note, XRP’s Balance Of Power (BOP) is showing strength this Friday afternoon, signaling that XRP bulls are likely to try push XRP price back above the $2.20 demand levels Additionally, the Stochastic Relative Strength Index (StochRSI) constituted a softly oversold position, balancing out the recent sell-offs.
So far, the belief in XRP price growth wasn’t rewarding since the Musk vs. Trump public beef took off – over $22 million XRP long liquidations had hit the Derivatives markets.
On the other hand, only $682.63K of the $22.62 liquidations were short-selling positions, says CoinGlass analytics. Ultimately, this means that Ripple (XRP) believers had dramatically over-leveraged their positions, expecting a sharp XRP rebound rally.
On The Flipside
The debate surrounding the One Big Beautiful Bill Act didn’t scare off most crypto investors, but still altered the overall market sentiment.
From moderate greed levels, the real-time Crypto Fear & Greed Indexmovedto ‘45’, hinting at mild fear kicking in.
Why This Matters
Market moves are often influenced by the developments in the United States political scene, while both Elon Musk & Donald Trump are associated with popular crypto currencies to some extent.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Can XRP Price Withstand The ‘Kill Bill’ Selling Pressure?
Ripple’s native coin XRP is following in the footsteps of the public fallout between tech mogul Elon Musk & The United States President Donald Trump. The squabble around the massive tax cut bill, popularly dubbed as “One Big Beautiful Bill Act (OBBBA) divided the Republican Party’s supporters into two very contrasting camps.
Ripple (XRP) is getting caught up in the middle of this superstorm, as the OG altcoin still holds a comfortable spot in the upcoming crypto strategic reserve in the United States. On Friday, XRP price dipped 3.5% to find its floor at $2.08. Orchestrating a mini comeback later, XRP price now trades at $2.172, according to TradingView’s real-time price data.
Does XRP Price See Light At The End Of The Tunnel?
As we will see in the graph below, Ripple coin’s (XRP) price broke through the green Bollinger Band (BOLL) after shortly falling below the $2.09 range late Thursday evening. Currently, the $2.17 price range won’t offer much support if the OG altcoin doesn’t reclaim the mid-tier BOLL band, portrayed with a thin blue line.
So far, the belief in XRP price growth wasn’t rewarding since the Musk vs. Trump public beef took off – over $22 million XRP long liquidations had hit the Derivatives markets.
On the other hand, only $682.63K of the $22.62 liquidations were short-selling positions, says CoinGlass analytics. Ultimately, this means that Ripple (XRP) believers had dramatically over-leveraged their positions, expecting a sharp XRP rebound rally.
On The Flipside
Why This Matters
Market moves are often influenced by the developments in the United States political scene, while both Elon Musk & Donald Trump are associated with popular crypto currencies to some extent.
Read DailyCoin’s hottest crypto news:
Trump Shuns Magic Eden Crypto Wallet Ties, TRUMP Coin Dips 13%
Chainlink Under Watch: Whale Activity, Bearish Indicators Stir Caution