A crypto -friendly wind has been blowing over the market since President Trump took office. At the beginning of April, however, the US president’s trade policy caused a real storm. The financial markets collapsed after deciding to increase the import tariffs for dozens of countries.
XRP whales cannot be put off by some headwind. These wealthy investors together have 7.38 billion XRP. In the past week alone, these crypto millionaires bought as a whole 510 million XRP -in the equivalent of over one billion US dollars.
XRP course recovers after dramatic week
After massive criticism, Trump decided to take a break in the increased import tariffs. Rising stock and cryptocurse reflected the relief and joy among investors. So XRP increased by 11.7 percent. The whales use this development and buy large amounts of XRP. Your purchases contribute to the upward dynamics of the cryptocurrency.
Thanks to the latest price increase, the XRP price is currently $ 2. Despite a preliminary trading break, the trade war continues. The resistance for XRP is $ 2.14. In which direction the course is developing depends on several factors, including US economic policy and geopolitical events.
If the market environment is again in a negative spiral, the course for the support could be $ 1.94. In the case of a pronounced bear-sentiment, a decline to $ 1.70 would even be possible.
Despite positive market tendencies, there is still great uncertainty about the direction of XRP. That the Net unrealized profit/loss (nulp) Lating less than 0.5 is a rather negative signal. Among other things, this indicator shows whether one Cryptocurrency is in a positive or negative phase. Ripple is currently in the “anxiety zone”, in which price losses often occur.
Wale activities are a positive sign
Despite the uncertainties on the market, the activities of the whales are a positive indicator for XRP. The strong accumulation shows that more and more wealthy investors are interested in cryptocurrency. The trust in XRP is growing. In addition, Ripple, the company behind the cryptocurrency, took an important step forward this month.
The suspension of global import tariffs is also positively absorbed by XRP investors. Countries that are willing to negotiate with the USA only have to pay 10 percent of import duties for 90 days.
China, on the other hand, has no place at the negotiating table, since according to its own statement, it will fight the high US tariffs “to the end”. The government under President XI Jinping takes countermeasures and increased import duties to US goods to 84 percent.
Also big Bitcoin-investors are currently increasing massively. This month even the largest merchant wave has been held in eight months.