TLDR

Table of Contents

XRP price rose 15.3% to hit $2.08 on April 9, rebounding from a multi-month low of $1.6401 on April 7
The primary reason for the surge was President Trump’s announcement temporarily halting reciprocal tariffs for 90 days
Elliot Wave Analysis suggests XRP could drop below $1 before potentially reaching $20 in Wave 3
XRP has traded in a value area between $2.11 and $2.60 from December 2024 to April 2025
Key factors affecting XRP price include Bitcoin price movement, Fed interest rate decisions, and US-China trade tensions

XRP has rebounded above the $2 mark following a steep decline earlier this week. The cryptocurrency saw a 15.3% price surge on April 9, reaching a daily high of $2.08 after touching a multi-month low of $1.6401 on April 7.

The recovery comes primarily due to an announcement from US President Donald Trump, who issued a statement on April 9 temporarily halting all reciprocal tariffs for 90 days. During this period, the US will lower its reciprocal tariffs to 10%.

China was notably excluded from this tariff pause. Instead, President Trump raised China’s tariffs to 125%, stating the increase was “based on the lack of respect the country has shown the world markets.”

This decision triggered a broad market recovery, with Bitcoin rebounding from $74,400 on Monday to above $82,000. XRP followed this upward trend but has since retraced slightly to $2.03.

Despite the recent gains, XRP remains down 3.35% over the past week and 5.06% over the last 30 days.

Market Analysis and Trading Range

From December 2024 to April 2025, XRP has traded within a value area extending from $2.11 to $2.60. This range represents where 70% of XRP’s trading volume occurred over the past four months.

Market analysts suggest two possible short-term scenarios for XRP. If the price maintains above $2.11, it could signal strength and potentially drive the price toward $2.41 or even $2.60.

Alternatively, rejection at the $2.11 level might lead to an extended correction down to $1.47, placing XRP in what some traders consider a buy zone.

The cryptocurrency had previously reached a high of $3.40 before declining to its current trading level around $2.

Elliot Wave Predictions

Some market analysts are applying Elliot Wave Theory to predict XRP’s future price movements. According to this analysis, XRP has completed its first wave after rallying from $0.50 to $3.40.

$XRP
Just a friendly reminder: #XRP is one of the only few coins that has consistently formed higher lows for 7 years, despite relentless backlash.
Also, XRP continues to outpace $ETH in dominance, even in times of market stress. If that’s not strength, I don’t know what is. pic.twitter.com/NVbneHsoWg
— XForceGlobal (@XForceGlobal) April 10, 2025

The current price action is believed to be part of Wave 2, which could see XRP’s value drop to a buy zone between $1.70 and $1.0. Due to market volatility, some analysts warn the price might briefly fall below the $1 mark.

If this prediction holds true, Wave 3 would follow, potentially driving XRP to much higher levels. In Elliot Wave Theory, the third wave is typically the longest and strongest.

However, these long-term price targets remain speculative and would depend on numerous factors, including overall market conditions and project developments.

Several key factors could impact XRP’s price direction in the coming weeks. Bitcoin’s performance will likely influence XRP and other altcoins, as the leading cryptocurrency often sets the tone for the entire market.

Macroeconomic conditions, particularly Federal Reserve policy decisions regarding interest rates, will also play a crucial role. If the Fed decides to cut interest rates, it could create a risk-on environment favorable for cryptocurrencies.

The ongoing trade tensions between the US and China represent another critical factor. Any cooling of trade war rhetoric could allow both stock and crypto markets to recover further.

XRP’s recent price movement is part of the broader crypto market’s reaction to macroeconomic events, particularly the temporary tariff relief announced by President Trump.

As of press time, XRP trades at $2.03 with 24-hour gains of 12.4%. Traders and investors are closely watching key price levels to determine whether the token will continue its recovery or face additional downward pressure.

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