The tumultuous sea of the XRP market is swelling with ominous shadows, as a bearish tale unfolds upon its weekly parchment of fate, hinting at a dismal descent with the wind of US tariffs howling through the canyons of commerce. Ah, the drama of economics! šš¼
Descending Triangle: The Grim Reaper of XRP? š¤
Since galloping on the backs of bulls in late 2024, the XRP price chart now scribbles a triangle of despairāa flat bottom where hope meets a downward-sloping resistance that mocks its every move.
Such a triangle, birthed in the chaotic aftermath of a dizzying uptrend, resembles a herald of doom. Tradition dictates that this formation, once it breaks through its flimsy support, could see prices tumble faster than a toddlerās ice cream cone on a summerās day. š¦š„
As we clash into March 28, XRP finds itself at the precipice of this triangleās support. If the fates decree, we could witness a splatter down to a pitiful $1.32 by Aprilāa stomach-churning 40% drop. Care to bring a parachute? š±
Ah, the sage words of veteran trader Peter Brandt resonate like a bardās tune foretelling doom: a potential plunge to a miserable $1.07, driven by a ‘textbook’ head-and-shoulders patternāhow poetic! ššµļøāāļø
But wait! Should fortune smile upon XRP, a rebound from its flat support might lead it on a daring escapade toward the upper trendline at around $2.55. Yet, a clear breakout could leave the bearish tales in tatters, flinging it up to heights unseenā$3.35, anyone? š¢āØ
Trumpās Tariffs: The Uninvited Guest at the XRP Party š
Meanwhile, the looming specter of President Donald Trumpās audacious 25% tariffs on auto imports, dropping like a surprise piƱata on April 3, has turned the collective psyche of the market wary and wary. Who can blame them?
These tariffs are set to inflate prices, squeezing every nickel from consumers and manufacturers alike. With the February 2025 CPI report already ringing alarm bells with a 0.2% increase, one can almost hear the cash registers grinding in despair. šøš©
St. Louis Federal Reserveās own oracle, Alberto Musalem, forecasts that these tariffs could stir the cauldron of inflation by a whole 1.2 percentage points. The gift that keeps on givingāwhat a time to be alive in the world of finance! šš
As per the ominous CME FedWatch Tool, the hopes of a Federal Reserve rate cut have dwindled to a mere 55.7%, down from 67.3% like a balloon escaping the clutches of a child’s handāand a delayed rate cut could choke the life out of speculative markets. Chaos reigns supreme! š«š°
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2025-03-28 16:01