Despite the launch of the XXRP ETF on NYSE Arca on April 8, 2025, XRP’s price remains precarious due to a mix of market dynamics and escalating trade wars. The 2x leveraged ETF, designed to amplify XRP’s daily returns, debuted amid heightened volatility, with XRP trading at around $1.71 after a 7.4% drop in 24 hours. The XXRP ETF attracted $5 million in first-day volume, in what Bloomberg ETF analyst Eric Balchunas termed a commendable achievement considering the ongoing tumult in crypto and other global markets. Although this was 200x less than the volume posted by BlackRock's IBIT ETF on day one, this performance puts XXRP in the top 5% of new ETF launches.
Source: Cointelegraph/TradingViewXRP’s descending triangle target echoes trader CasiTrade's prediction that the altcoin could drop as low as $1.55 due to a “textbook” Elliott Wave Theory analysis.“Right now, $1.81 is a critical level to break in this plan,” the trader said in an April 8 post on X, adding that if the price loses that level, it would confirm a deeper move.
XRP’s rally comes on the heels of additional positive news and the XXRP ETF being launched on the New York Stock Exchange (NYSE) Arca. Despite the positive macroeconomic and TradFi crypto adoption news, XRP charts still caution that a sharp price downside could lie ahead.
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Author / Journalist: Cointelegraph by Nancy Lubale
The story "XRP price gains 13% after Trump 90-day tariff pause and XXRP ETF launch" has 565 words across 21 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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