XRP is up more than 7% over the last 24 hours, bouncing from a low of $1.79 on the day before, rising as much as 55% to a high of $2.78 on Feb. 4, according to data from CoinBerg Markets Pro and TradingView.
XRP/USD daily chart. Source: TradingView
Let’s look at the drivers behind XRP’s rebound today.
XRP price boosted by Trump’s tariffs pause
XRP’s rally on Feb. 4 mirrors similar moves across the broader crypto market after US President Donald Trump agreed to put a temporary hold on proposed tariffs aimed at Canada and Mexico.
“Canada is implementing our $1.3 billion border plan” and will ensure “enhanced coordination with our American partners” to protect the border, Trudeau said in a Feb. 3 post on X.
Source: Justin Trudeau
XRP price needs to reclaim key support level
Market participants expect the XRP/USD pair to resume its bullish momentum after rebounding from the year-to-date low of $1.76. However, there are indications that the latest rebound might have been a been a bull trap.
XRP/USD daily chart. Source: CoinBerg/TradingView
The relative strength index (RSI) likewise shows a decline from 49 to 38 over the last two days, indicating increasing bearish momentum. If the sell-side pressure continues, XRP price may retrace lower toward the major support at $2.26 and later toward $2.00, embraced by the 100-day SMA. XRP investors have realized nearly $2 billion in profits in the past three days — one of the highest in its history, according to data from Santiment.
