Ripple (XRP) price is poised for volatility this week as President Trump’s “Liberation Day” tariffs go into effect today, April 2. The impact that these tariffs will have on risk assets such as crypto and stocks is also causing jitters among investors. In this article, we explore what to expect from Ripple price after “Liberation Day.”
President Trump’s Liberation Day Tariffs Go Into Effect Today
President Trump has vowed that April 2 will be the day that the US gets “money, and respect, back” and be liberated from exploitative policies. This has sparked a drop in Bitcoin price, XRP, and other top altcoins.
On this day, Trump seeks to bolster the US manufacturing industry by making it costly for foreign companies to export their products to the US. He will also announce reciprocal tariffs that will target all countries that impose fees on US imports.
According to ABC News, Trump informed reporters earlier this week that the tariffs would be “far more generous” compared to what these countries have imposed on the US.
However, Reuters noted that experts from the Federal Reserve Bank of Atlanta expect these tariffs to increase the inflation rate and the level of unemployment. A recent Coingape article also revealed that China, Japan and Korea are planning to jointly respond to these tariffs.
Investors holding risk assets have been on an aggressive selling spree to mitigate risk. The US stock market has wiped out nearly $5 trillion of its value in less than two months. The crypto market also remained in limbo as XRP price and most altcoins edged lower.
What to Expect From XRP Price on Liberation Day
XRP price today trades at $2.11 with a slight 1.4% drop in 24 hours. Like many risk assets, Ripple may experience volatility today, as traders react to the extent of these new tariffs.
Technical indicators on the one-day chart suggest that bearish trends are still prevalent but may be weakening. The RSI line is tipping north and made higher lows, which signals that the selling activity is weakening. At the same time, the MACD line is rising albeit being in the negative region.
At the same time, the triple bottom pattern on the 4-hour XRP price chart makes a bullish case for the altcoin. If Ripple successfully defends the support of $2.06 to confirm the triple bottom, it could spark an upswing toward $2.48.
This triple bottom is not the only factor that makes a bullish case for Ripple price. According to Whale Alert, more than $1.4 billion worth of XRP tokens have been locked away in escrow. This might help ease the selling pressure.
Therefore, as President Trump’s Liberation Day dawns, XRP price faces intense volatility. However, the removal of more than $1 billion Ripple tokens from supply and a triple bottom pattern hints towards a possible recovery. Moreover, XRP may reach $10 in April due to a stablecoin bill before the US Congress.
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